Indonesia Joins BRICS: Market Expansion and Independence on the Agenda
In a significant move, Indonesia has officially become a full member of the BRICS group, formerly comprising Brazil, Russia, India, China, and South Africa. This strategic shift, driven by President Prabowo Subianto‘s leadership, promises to expand Indonesia’s market reach and bolster its economic independence.
Luhut Binsar Pandjaitan, the Chairman of Indonesia’s Economic Policy Agency (DEN), welcoming the news, emphasized the potential market expansion: "Our market will be bigger," he said in a press conference at his Jakarta office. "That’s the main benefit we get from BRICS."
Luhut underscored Indonesia’s sovereignty, stating that it would not align with any single nation. He expressed confidence in Prabowo’s leadership, dismissing fears of retaliatory measures from the West or the U.S.: "Indonesia is too big to take sides. We need to be independent and somewhat, dare I say, mischievous."
With a larger market, Indonesia can mitigate challenges faced by other nations, such as energy crises in Europe and economic struggles in China and the U.S., Luhut explained. The DEN will advise Prabowo and help implement priority economic policies.
Indonesia’s BRICS membership was formally announced by Brazil’s foreign ministry on January 6, 2025. The ministry noted Indonesia’s eagerness to reform global institutions and contribute positively to South-South cooperation. Brazil, currently holding the BRICS presidency, approved Indonesia’s application in Johannesburg in 2023.
Founded in 2009, BRICS has welcomed several new members alongside Indonesia, including Iran, Egypt, Ethiopia, Saudi Arabia, and the United Arab Emirates (UAE).
With this development, Indonesia positions itself as a key player on the global economic stage, asserting its independence while forging stronger ties with influential nations.
