Brazil on Monday announced the joining of Indonesia as a new full member of BRICS bloc, which comprises of major economic like China and India.

Brazil said BRICS leaders endorsed Indonesia’s candidacy during the Johannesburg Summit in August 2023, as part of the group’s expansion process for full members.

"Due to the 2024 presidential elections, Indonesia formally notified the group of its interest in joining BRICS only after the establishment of its new government. In 2024, the BRICS countries approved by consensus Indonesia’s membership in line with the guiding principles, criteria, and procedures for expansion agreed upon in Johannesburg," the statement said.

Brazil said it welcomed Indonesia for its entry into BRICS.

"As the largest economy and most populous nation in Southeast Asia, Indonesia shares with other BRICS members the support for the reform of the global governance institutions and contributes significantly to the deepening of Global South cooperation," the statement said.

What is BRICS?

The leaders of BRIC (Brazil, Russia, India, and China) countries met for the first time in St. Petersburg, Russia, on the margins of G8 Outreach Summit in July 2006. Shortly afterwards, in September 2006, the group was formalised as BRIC during the 1st BRIC Foreign Ministers’ Meeting, which met on the sidelines of the General Debate of the UN Assembly in New York City.

After a series of high level meetings, the 1st BRIC summit was held in Yekaterinburg, Russia on 16 June 2009.

BRIC group was renamed as BRICS (Brazil, Russia, India, China, South Africa) after South Africa was accepted as a full member at the BRIC Foreign Ministers’ meeting in New York in September 2010.