Brasilia:
Brazil on Monday introduced that Indonesia had develop into a full member of BRICS, a bloc of growing economies more and more seen as a counterweight to the West.
Brazil’s overseas ministry mentioned in a press release that Southeast Asia’s most populous nation “shares with the opposite members the need to reform the establishments of worldwide governance and contribute positively to cooperation throughout the International South.”
Brazil, which holds the rotating presidency of the grouping in 2025, mentioned Indonesia’s bid to affix the bloc had been permitted throughout a summit in 2023 in Johannesburg.
BRICS was created in 2009 by founding members Brazil, Russia, India and China. South Africa joined the next yr.
Final yr, the grouping expanded with Iran, Egypt, Ethiopia and the United Arab Emirates changing into full members.
Throughout its presidency, Brazil goals to spice up cooperation between nations of the “International South” and reform multilateral establishments.
One of many aims, in accordance with the federal government of left-wing President Luiz Inacio Lula da Silva, is the “growth of technique of fee” to facilitate commerce between member nations.
Over the past BRICS summit in Kazan, Russia in November 2024, member nations mentioned boosting non-dollar transactions and strengthening native currencies.
This raised the ire of US President-elect Donald Trump, who threatened the group’s members with “one hundred pc tariffs” in the event that they undercut the US greenback.
This yr’s BRICS summit will happen in Rio de Janeiro in July.
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