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Reading: Indonesia turns into full member of BRICS
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StockWaves > Business > Indonesia turns into full member of BRICS
Business

Indonesia turns into full member of BRICS

StockWaves By StockWaves Last updated: January 8, 2025 7 Min Read
Indonesia turns into full member of BRICS
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Brazil has introduced that Indonesia has develop into a full member of the BRICS group. Brazil, which holds the presidency of the BRICS in 2025, mentioned that Indonesia’s candidature was endorsed by leaders of the bloc on the Johannesburg summit in 2023.

In a press release, the Brazilian International Ministry welcomed Indonesia for its entry into BRICS. It mentioned that Indonesia and different BRICS members help the reform of the worldwide governance establishments.

“The Brazilian authorities welcomes Indonesia for its entry into BRICS. As the most important financial system and most populous nation in Southeast Asia, Indonesia shares with different BRICS members the help for the reform of the worldwide governance establishments and contributes considerably to the deepening of International South cooperation, priorities that align with Brazil’s theme for its presidency:

“Enhancing International South Cooperation for a Extra Inclusive and Sustainable Governance,” Brazilian International Ministry mentioned in a press release.

Indonesia formally notified the group of its curiosity in becoming a member of BRICS solely after the institution of its new authorities. In 2024, the BRICS nations permitted by consensus Indonesia’s membership in keeping with the guiding rules, standards, and procedures for growth agreed upon in Johannesburg, in line with the assertion.

BRIC, as a proper grouping, began after the assembly of the Leaders of Russia, India and China in St Petersburg on the margins of G8 Outreach Summit in 2006. The grouping was formalized throughout the first assembly of BRIC International Ministers on the margins of UNGA in New York in 2006.

The primary BRIC Summit was held in Russia’s Yekaterinburg in 2009. It was agreed to develop BRIC into BRICS with the inclusion of South Africa on the BRIC International Ministers’ assembly in New York in 2010.

South Africa attended the third BRICS Summit in Sanya in 2011. An extra growth of BRICS came about in 2024 with 5 new members – Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates.

The sixteenth BRICS Summit was being held underneath Russia’s chairmanship in Kazan in 2024. 



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