Brazil Welcomes Indonesia as Full Member of BRICS+: A Milestone in Economic Governance
Indonesia joins BRICS+ as a full member, bolstering the bloc's economic governance. This move signals BRICS+'s commitment to global south cooperation and institutional reforms.
It was announced this Monday (6) by the Brazilian’s Ministry of Foreign Affairs (MRE) that Indonesia joined BRICS+ in a position of a full member. The MRE indicated the country’s approval was a consensus by its members, in accordance to the group’s expansions guiding principles from the Johannesburg Summit of 2023.
Indonesia’s adhesion to the group in the midst of discussions relating to the rise of the MINT shows a fascinating possibility for BRICS+ expansion and consolidation as an economic and financial governance platform.
MINT (Mexico, Indonesia, Nigeria and Turkey) was created in 2011 to indicate a group of countries that were expected to demonstrate relevant economic growth, thus, interesting countries for foreign investments, quite like how the BRIC acronym was originated, not ironically produced by the same investments researcher for Goldman Sachs, Jim O’Neill.
Unlike what O’Neil might have expected for the MINT countries, the perspective of a country of such demographic importance and economic potential as Indonesia joining BRICS+ shows the strengthening of the principles established by the Brazilian presidency towards the group during the year 2025:
supporting reforms of major global governance institutions and contributing for the cooperation among countries of the global south.
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Indonesia joining BRICS presents a very significant situation for the Australian Government to consider. Sadly I don't expect either our Prime Minister, Minister for Foreign Affairs or the Minister for Defence to pick up the telephone to President Prabowo Subianto to request diplomatic dialogue on the matter.
The alternative is gaining traction. Well done.