Connect with us

Hi, what are you looking for?

Economy

Indonesia joins BRICS bloc as full member, Brazil says

SAO PAULO (Reuters) -Indonesia will formally join BRICS as a full member, Brazil’s government said on Monday, further expanding the group of major emerging economies that also includes Russia, India, China and South Africa.

Indonesia’s foreign ministry said in a statement on Tuesday that it welcomed the announcement and that “BRICS membership is a strategic way to increase collaboration and partnership with other developing nations.”

Indonesia, the world’s fourth most populous nation, had previously expressed its desire to join the group as a means of strengthening emerging countries and furthering the interests of the so-called Global South.

Brazil, which holds the bloc’s presidency in 2025, said in a statement that member states approved Indonesia’s entry by consensus as part of an expansion push initially endorsed at the 2023 BRICS summit in Johannesburg.

The South American nation noted that Jakarta’s bid got the green light from the bloc in 2023 but the Southeast Asian country asked to join following the presidential election held last year. President Prabowo Subianto took office in October.

“Indonesia shares with the other members of the group support for the reform of global governance institutions, and contributes positively to the deepening of cooperation in the Global South,” the Brazilian government said.

The BRICS group also includes Egypt, Ethiopia, Iran and the United Arab Emirates.

This post appeared first on investing.com

You May Also Like

Investing

Fisker (NYSE: FSR) stock price has been one of the best-performing electric vehicle (EV) stocks this week even as Tesla slumped. The shares jumped...

Investing

Newmont (NYSE: NEM) reported mixed financial results even as the price of gold approached its all-time high. In all, the company’s earnings per share...

Investing

The Fox Corporation (NASDAQ: FOX) stock price has been under pressure as investors come to terms with the abrupt firing of Tucker Carlson. The...

Investing

NatWest (LON: NWG) share price rose sharply, helped by the strong results from Barclays. The stock jumped to a high of 274.8p, which was...




Disclaimer: Oldamericanbroker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the-company.


Copyright © 2025 Oldamericanbroker.com