Brazil Welcomes Indonesia as New Member of BRICS Bloc

By Alayaran News Desk

Rio de Janeiro – Brazil announced on Monday that Southeast Asia's most populous country, Indonesia, had become the latest member to join the BRICS bloc of developing economies.

According to the Brazilian foreign ministry, Indonesia shares with other BRICS members the "will to reform the institutions of global governance and contribute positively to cooperation within the Global South."

The announcement comes after Japan and Vietnam were added as permanent observers in July last year, bringing the total number of member countries to seven. The group was created in 2009 by Brazil, Russia, India, China, and South Africa.

Brazil's Foreign Ministry said Indonesia joined the bloc through its approval during a summit in Johannesburg in 2023. During this president, Brazilian President Luiz Inácio Lula da Silva aims to boost cooperation between countries of the "Global South" and reform multilateral institutions.

One of Brazil's key objectives is the development of means of payment to facilitate trade between member countries, according to the government. This includes boosting non-dollar transactions and strengthening local currencies, as discussed during the last BRICS summit in Kazan, Russia last November.

However, this agenda has attracted opposition from US President-elect Donald Trump, who has threatened group's members with "100 percent tariffs" if they undercut the US dollar.

The latest development marks another expansion of the alliance. Other recent additions to the bloc include Iran, Egypt, Ethiopia, and the United Arab Emirates.

This year's BRICS summit is scheduled to take place in Rio de Janeiro in July, providing an opportunity for leaders to further discuss key objectives and address growing global concerns.

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