Indonesia Officially Joins BRICS

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112 Comments November 11, 2024

In a significant geopolitical development, Brazil, the rotating chair of the BRICS nations for 2025, announced on January 6 that Indonesia has officially joined the group as its latest memberThis announcement marks a historic milepost as Indonesia becomes the 10th member of BRICS and the very first Southeast Asian nation to be part of this cooperative frameworkSuch integration not only underscores Indonesia's growing influence in international affairs but also highlights the country’s commitment to promoting a more inclusive and equitable global order through multilateral cooperation.

The term "BRICS" was initially coined to describe the collective of Brazil, Russia, India, and ChinaThe first official meeting of the foreign ministers from these countries took place in 2006, setting the stage for robust collaborationsThe evolution of BRICS gained momentum in June 2009 when the leaders held their inaugural summit in Russia, bringing the partnership to a summit-level platform

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Two years later, South Africa joined, further expanding the group's geographical representationLooking ahead, BRICS is expected to welcome Iran, Egypt, Ethiopia, and the United Arab Emirates as members in 2024, signifying a broader outreach and diversity in representation.

On January 7, Indonesia’s Ministry of Foreign Affairs expressed its enthusiasm regarding the announcementThe ministry emphasized that this milestone is a testament to Indonesia's active role on the global stage and reflects its steadfast dedication to enhancing multilateral collaboration geared toward fostering a fair and inclusive global orderJoining BRICS is perceived as a strategic move that aligns with the principles of equality, mutual respect, and sustainable development, thereby facilitating Indonesia's partnerships with other developing nations.

As a rapidly growing and economically diverse nation, Indonesia is set to proactively contribute to the BRICS agenda, focusing on enhancing economic resilience, fostering technological cooperation, promoting sustainable development, and addressing global challenges like climate change, food security, and public health

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The Indonesian government's statement highlighted that BRICS serves as an essential platform for amplifying the voices and demands of countries in the Global South, ensuring they are effectively heard and represented in global decision-making processesIn this context, Indonesia aims to collaborate closely with all BRICS members and relevant parties to create a just, peaceful, and prosperous world.

The admission of Indonesia into BRICS is deemed a significant diplomatic initiative by the newly installed government of President Prabowo, who took office on October 20, 2024. Shortly after revealing his cabinet, Prabowo sent Foreign Minister Sugianto to participate in the BRICS summit held in Kazan, RussiaDuring this summit, Sugianto expressed Indonesia's intentions to join the organization, stating that the principles advocated by BRICS resonate strongly with Indonesia’s foreign policy stance

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He clarified that Indonesia's pursuit of BRICS membership isn’t about aligning with a specific bloc but rather aims to leverage this platform for greater freedom in voicing the needs and interests of Southern nations globally.

Prabowo reiterated the significance of BRICS as a vital platform for fostering solidarity among Global South nationsSeveral countries, including Thailand and Malaysia, have also shown interest in joining, hoping to use this opportunity for economic boost and improvement of their people’s welfareThe strategic gain from Indonesia's inclusion in BRICS translates not only to the group's enhanced international standing and influence but also paves the way for new development opportunities for Indonesia itself.

Indonesia stands out as the fourth most populous country globally and the largest economy in Southeast Asia, endowed with rich natural resources like palm oil and nickel

This position allows Indonesia to emerge as a crucial partner for other BRICS nationsBy 2024, the combined population of BRICS member countries is projected to encompass around 46% of the global populace and hold nearly 35% of the world's Gross Domestic Product.

For Indonesia, joining BRICS is akin to unlocking new avenues for market access and investment opportunitiesIn 2022, BRICS nations accounted for a notable 21.2% of Indonesia's total foreign direct investmentWith its newly gained status as a BRICS member, there is considerable potential for this figure to rise even further, facilitating enhanced economic engagements.

According to Ahmad Koiru Umam, a researcher at the Paramadina Public Policy Institute, Indonesia's membership could prove advantageous in securing support from the New Development Bank associated with BRICS, which has so far approved financing worth $32.8 billion

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Alsyad Rashid, the chairman of the Indonesian Chamber of Commerce, lauded the event as a historic moment, indicating that Indonesia's formal membership will lead to tightened trade and investment ties with other BRICS nations.

In recent years, the Indonesian government has been actively pursuing membership in various cooperative organizations such as BRICS, the Organisation for Economic Co-operation and Development (OECD), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This endeavor aims to align Indonesia more closely with major global economies and multilateral frameworks, thereby bolstering domestic economic developmentBy May 2024, Indonesia's roadmap for OECD membership received approval, with plans to align domestic regulations and standards as part of the membership pursuitData from Indonesia’s Coordinating Ministry of Economic Affairs indicates that the nation must meet 250 standards and recommendations to qualify as an OECD member, with hopes to finalize these processes within a three-year time frame.

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