In a move hailed as a game-changer for global economics, Indonesia has officially joined the BRICS bloc as a full member. This bold step is set to redefine the country’s role in international trade and diplomacy and could be a major blow to the dominance of Western economic powers.
Brazil, which holds the bloc’s presidency in 2025, announced Indonesia’s acceptance into BRICS in a statement on Monday.
In the statement, Brazil’s government said that Indonesia had been accepted after its application bid was received during the 2023 BRICS annual summit in Johannesburg. Indonesia requested its acceptance be halted amid presidential elections last year, where Prabowo Subianto was officially elected. Now, Indonesia has become the 10th member of the growing economic group.
Part of the statement from the Brazilian government states, and I quote: “Indonesia shares with the other members of the group support for the reform of global governance institutions and contributes positively to the deepening cooperation of the global south,” 2025 BRICS President Brazil said in a statement.
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BRICS was formed on June 16, 2009, when the first BRIC summit was held in Yekaterinburg, Russia. The term BRICS, which stands for Brazil, Russia, India, China, and South Africa, was originally BRIC, referring to the first four countries, with South Africa joining in 2010, making it BRICS.
As the world’s fourth-most populous nation and the largest economy in Southeast Asia, Indonesia’s entry into BRICS is a significant expansion of the bloc, which already includes heavy hitters like China, India, and Russia. With its rich natural resources, strategic location, and growing consumer market, Indonesia is poised to play a major role in shaping the future of global trade and commerce.
Indonesia’s foreign ministry said in a statement on Tuesday that it welcomed the announcement and that “BRICS membership is a strategic way to increase collaboration and partnership with other developing nations.”
But what does this mean for the rest of the world? Will Indonesia’s membership in BRICS mark a shift towards a more multipolar world order where emerging economies have a greater say in global affairs? Only time will tell, but one thing is certain: this is a development that will be watched with great interest by economists, policymakers, and business leaders around the globe.
