INDONESIA has become a full member of Brics, Brazil, which holds the bloc’s presidency for this year, has announced.

Jakarta’s candidacy was endorsed by Brics leaders in August 2023, according to  a statement by the Brazilian Foreign Ministry on Monday. 

However, the world’s fourth-most populous nation opted to formally join the bloc only after the formation of its newly electedayd government last year.

“The Brazilian government welcomes Indonesia’s entry into the Brics,” the ministry said. 

“With the largest population and economy in south-east Asia, Indonesia shares with other members a commitment to reforming global governance institutions and contributes positively to deepening South-South co-operation.”

Indonesia’s Ministry of Foreign Affairs said joining Brics reflects the country’s increasingly active role in global issues and its commitment to strengthening multilateral co-operation.

“Indonesia views its membership in Brics as a strategic step to increase collaboration and co-operation with other developing countries, based on the principles of equality, mutual respect and sustainable development,” it said.

The statement also expressed Indonesia’s “gratitude to Russia,” which held the presidency last year, “for its support and leadership in facilitating Indonesia’s joining,” as well as to Brazil.

Brics was formed by Brazil, Russia, India and China in 2009 and South Africa was added in 2010. 

Last year, the alliance expanded to embrace Iran, Egypt, Ethiopia and the United Arab Emirates. Saudi Arabia has been invited to join but has not yet done so.

Thirty-four countries — Algeria, Azerbaijan, Bahrain, Bangladesh, Belarus, Bolivia, Cuba, Chad, the Republic of Congo, Equatorial Guinea, Eritrea, Honduras, Indonesia, Kazakhstan, Kuwait, Laos, Malaysia, Myanmar, Morocco, Nicaragua, Nigeria, Pakistan, Senegal, South Sudan, Sri Lanka, the State of Palestine, Syria, Thailand, Turkey, Uganda, Uzbekistan, Venezuela, Vietnam and Zimbabwe — have asked to be considered for Brics membership.

Before Indonesia joined, the bloc accounted for nearly 45 per cent of the world’s population and 35 per cent of global gross domestic product, measured using purchasing power parity.