Economic reports and analysis from Indonesian government or international economic bodies

Indonesia Joins BRICS as Full Member on December 6, 2024, Enhancing Largest Economy in Southeast Asia

Jan 13, 2025, 12:30 PM

Indonesia has officially joined BRICS as a full member, a decision announced by the Brazilian government on December 6, 2024, following the country's presidential elections. This membership was approved at the BRICS summit held in Johannesburg in 2023. Indonesian Foreign Minister emphasized that the nation aims to bridge the interests of developing countries and the Indo-Pacific region while actively working to prevent the escalation of geo-economic and geopolitical rivalries. Economists view Indonesia's entry as a strategic milestone for its domestic economy and the global trade landscape, particularly noting that it brings the largest economy of Southeast Asia into the bloc. In recent years, Indonesia has also established numerous new or upgraded economic agreements with countries beyond Southeast Asia.