JAKARTA – Indonesia has officially joined the BRICS economic bloc (Brazil, Russia, India, China, and South Africa) after receiving approval from several members, with the announcement made by the Brazilian government on Monday (6/1).

"Indonesia shares with other BRICS members the support for reforming global governance institutions and contributing positively to deepening cooperation in the Global South," the Brazilian government stated in its official announcement.

Welcoming the decision, Vice Chair of the National Economic Council (DEN) Mari Elka Pangestu highlighted several benefits for Indonesia upon joining BRICS.

"We now have a group that can advocate both within BRICS and in other multilateral forums," said Mari Elka during her speech at the Presidential Palace on Tuesday (7/1).

Secondly, Mari Elka noted, BRICS could serve as a bridge for the interests of developing countries on common issues that need to be advocated.

Moreover, BRICS plans to push for international transactions using currencies other than the US dollar. The bloc is also backing the New Development Bank, a financial institution aimed at supporting developing countries.

"Whether this is positive or negative for us, it needs to be studied," Mari Elka added. (KR)