Indonesia has officially joined the Brazil, Russia, India, China, and South Africa alliance (or BRICS) economic bloc, marking a historic step.
According to a Reuters report, the accession was confirmed on 6 January 2025 by Brazil, the current chair of BRICS.
In an official statement, BRICS highlighted Indonesia’s strategic importance and said, “As the largest economy and most populous nation in Southeast Asia, Indonesia shares with other BRICS members support for the reform of global governance institutions and makes an important contribution to deepening cooperation within the Global South.”
JUST IN: 🇮🇩 Indonesia officially joins BRICS as a full member. pic.twitter.com/TSj7LyEGPK
— BRICS News (@BRICSinfo) January 6, 2025
Explore: This Week In Crypto Asia: Indonesia Crosses $30 Billion In Crypto Transactions In 2024
“BRICS Is An Important Platform For Indonesia To Strengthen South-South Cooperation”
“We have reiterated several times that BRICS is an important platform for Indonesia to strengthen South-South cooperation and ensure that the voices and aspirations of Global South countries are well-represented in global decision-making processes,” Indonesian Foreign Ministry spokesperson Rolliansyah Soemirat told media.
Indonesia has insisted on being committed to contributing to the agendas discussed by BRICS, including efforts to promote economic resilience, technological cooperation, and public health.
This milestone comes on the heels of the block’s broader expansion efforts. In early 2024, Egypt, Ethiopia, Iran, and the United Arab Emirates also became full members.
With Indonesia joining their ranks, the alliance now consists of ten full members—Brazil, Russia, India, China, South Africa, Iran, UAE, Egypt, Ethiopia, and Indonesia—representing over half of the world’s population and more than 41% of global GDP based on purchasing power parity (PPP).
In addition to its ten full members, the block has established partnerships with eight other countries—Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.
So, What Does All This Mean For Dedollarisation?
This expansion could tilt the balance of global power away from the West, especially as BRICS nations push for de-dollarization. It could reshape trade, finance, and alliances worldwide if they succeed.
Trump has said he will work against countries that try to de-dollarize ,so we’ll see what happens.
Related: The Four New BRICS Nations in 2025 in 2 Minutes
China Congratulates Indonesia. Will Vietnam Be The Next BRICS Member?
China welcomed and congratulated Indonesia on becoming a full member of BRICS. The spokesperson said Indonesia, as a major developing country and an important force in the Global South, highly recognizes the BRICS spirit and has taken an active part in “BRICS Plus” cooperation.
Following Indonesia’s accession, questions have arisen about whether other Southeast Asian nations might follow suit.
Vietnam has indicated that it is carefully studying its potential participation in international mechanisms like BRICS.
Pham Thu Hang, spokesperson for Vietnam’s Ministry of Foreign Affairs said, “Vietnam consistently pursues its foreign policy of independence, self-reliance and multilateralization. Vietnam will contribute to peace, stability and development of the region and the world in accordance with its needs and interests.”
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
