Brasilia:
Brazil announced on Monday that Indonesia had become a full member of BRICS, a group of developing economies seen as a counterweight to the West.
Brazil's Ministry of Foreign Affairs said in a statement that Southeast Asia's most populous country “shares with other member states the will to reform the world governance institutions and actively contribute to cooperation within the Global South.” Ta.
Brazil, which holds the group's rotating presidency in 2025, said Indonesia's proposal to join the bloc was approved at a summit in Johannesburg in 2023.
BRICS was created in 2009 by founding members Brazil, Russia, India, and China. South Africa also joined the following year.
Last year, the group expanded to include Iran, Egypt, Ethiopia and the United Arab Emirates as full members.
During his presidential term, Brazil aims to promote cooperation among countries of the “Global South” and reform multilateral institutions.
According to the government of left-wing President Luiz Inacio Lula da Silva, one of the aims is to “develop payment instruments” to facilitate trade between member countries.
At the last BRICS summit, held in Kazan, Russia, in November 2024, member countries discussed promoting non-dollar trade and strengthening local currencies.
This angered US President-elect Donald Trump, who threatened to impose “100% tariffs'' if the group's member countries devalued the US dollar.
This year's BRICS summit will be held in Rio de Janeiro in July.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
