The government of Brazil, who assumed the presidency of the BRICS this yearannounced this Monday the accession of Indonesia, in a new expansion of this group of the main emerging economies that also includes China, India and Russia.
Brazil highlighted that Indonesia, the most populous country and the largest economy in Southeast Asia“shares with the other members of the group support for the reform of global governance institutions and contributes positively to the deepening of cooperation in the Global South,” according to a note from the Foreign Ministry.
Indonesia’s candidacy was approved at the BRICS summit in Johannesburg in 2023.
Created in 2009, the BRICS group, which also includes South Africa, recently expanded to include countries such as Iran, Egypt and the United Arab Emirates.
Under the Brazilian presidency, the group will focus on cooperation between countries of the global south and the reform of multilateral institutions, according to the leftist president’s government. Luiz Inácio Lula da Silva.
One of its priorities is “the development of means of payment” to facilitate trade and investments between member countries, after the promotion of transactions was on the table at the last BRICS summit, in Kazan, Russia. in currencies other than the US dollar.
In this regard, in November, the president-elect of the United States, donald trumpthreatened to impose 100% tariffs on the countries of the BRICS group if they try to end the international dominance of the dollar.
Leaders of the BRICS countries are due to meet at a summit scheduled for July in Rio de Janeiro.
