Indonesia is positioning itself for new economic alliances by officially submitting an application to join BRICS, a global bloc comprised of Brazil, Russia, India, China, and South Africa. This significant step could establish Indonesia as a new BRICS partner alongside 12 other aspiring member nations.
Foreign Minister Sugiono delivered Indonesia’s expression of interest in joining BRICS at the BRICS Plus Summit in Kazan, Russia, on October 24, 2024, marking a shift in Indonesia’s stance from cautious observer to active applicant.
Although BRICS had invited Indonesia to join as early as 2023, former President Joko Widodo took a more measured approach, preferring to evaluate the potential advantages before making any hasty decisions.
Reflecting on this careful consideration, Edi Prio Pambudi, Deputy for International Economic Cooperation at Indonesia’s Coordinating Ministry for Economic Affairs, confirmed that the offer from BRICS was previously acknowledged.
However, at that time, Indonesia’s alignment with MIKTA (a G20 grouping comprising Mexico, Indonesia, South Korea, Turkey, and Australia) reflected its middle-power strategy within the global economic landscape.
“We were previously invited to join, but our stance in G20 as part of MIKTA emphasizes balance,” said Edi during a press conference on October 25, 2024, at the ministry in Jakarta.
Edi explained that Indonesia’s non-aligned, middle-power policy serves as a bridge between major international blocs. This position allows Indonesia to remain true to its non-alignment principles as outlined in the Indonesian Constitution’s preamble and the 1999 Foreign Policy Law, which advocate for an active, independent stance in international affairs.
Edi elaborated, “Our aim is to be connectors, bridging different blocs while maintaining our own unique role.”
With a keen focus on Indonesia’s open economic policy, Edi stressed that this approach allows the nation to selectively engage with blocs like BRICS if the domestic benefits align with its priorities. “Our open economy allows us the freedom to choose partnerships that provide the greatest benefit to Indonesia,” he explained.
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While Indonesia’s government has not yet finalized a comprehensive assessment of the economic gains BRICS membership might bring, Edi highlighted that global forums offer Indonesia an extended platform to boost trade and investment, crucial for achieving Prabowo’s ambitious goal of 8% economic growth.
“Economically, we’re looking to expand trade and investment channels to support growth, especially up to 8%,” he noted.
BRICS, named for its founding countries, Brazil, Russia, India, China, and South Africa, serves as a cooperative bloc of emerging economies with the shared goal of reducing dependence on the U.S. dollar in their financial dealings.
Additionally, BRICS advocates for economic collaboration among developing countries to increase their productivity, aiming to bridge the gap with advanced economies that continue to dominate global economic power, primarily from Europe, the U.S., and parts of Asia.
According to insights from the Council on Foreign Relations, BRICS aims to help member nations coordinate economic strategies and unlock greater productivity, gradually establishing parity with developed nations.