Indonesia’s Potential BRICS Membership: Advantages and Economic Opportunities

2023-08-30 11:31:00

“We hope that Indonesia can join the BRICS soon, even if the president [indonesio Joko] Widodo said that he was still considering our accession [a la alianza]Said Abdullah announced at a parliamentary working meeting.

According to the official, Indonesia’s accession to the alliance will provide the country with a series of advantages. In particular, Indonesia believes that the alliance can support the country’s efforts to develop local currency payments.

“The BRICS spirit should be Indonesia’s new hope to increase economic growth, reduce dependence on the US dollar and develop investment,” Said Abdullah explained.

He also warned the government to beware of economic slowdowns in China, Japan and the United States, as these three countries are Indonesia’s strategic trading partners.

The deputy estimated that the country’s accession to the BRICS might reduce dependence on these states.

During the group’s forum, the incorporation of Argentina, Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia and Iran was approved, which will become members of the association as of January 1, 2024.

Despite reports of Indonesia’s request to join the alliance, the country He is not among the new members.

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