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Last year saw the accession of new members to BRICS, the bloc comprising Russia, Brazil, India, China and South Africa. The new year keeps up the growth momentum, says a report by Sputnik.
BRICS now boasts 10 full members after Indonesia officially joined the group on 6 January.
BRICS currently includes Brazil, Russia, India, China, South Africa, Egypt, the United Arab Emirates, Ethiopia, Iran, and Indonesia.
What does Indonesia bring to the table?
Indonesia is the fourth-most populous nation (281,562,465) in the world.
It is the world's 16th-largest economy by nominal GDP and the 8th-largest by PPP (purchasing power parity).
The country is a major exporter of crude petroleum and natural gas, supplier of rubber, coffee, cocoa, palm oil, sugar, tea, tobacco, copra, and spices.
Its average GDP is projected to grow 5.1% per year from 2024 to 2026, according to the World Bank.
Newest BRICS partner states
Belarus: Russia’s closest security ally, positioned in the heart of Europe;
Bolivia: Boasts the world's largest lithium reserves at around 23 million tonnes;
Kazakhstan: 9th-largest country in the world, with Caspian Sea ports of Aktau and Kuryk; trade turnover with Russia already at $30 billion;
Cuba: Rich in minerals like nickel and cobalt; strategic Caribbean location;
Malaysia: Offers a “neutral and non-aligned” venue for strategic semiconductor hub via its National Semiconductor Strategy (NSS);
Thailand: Offers the role of “bridge builder” with regional groupings, such as ASEAN, APEC, ACD, and Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC);
Uganda: Strategic location for regional trade and investment in East Africa;
Uzbekistan: Active in projects such as the North-South Transport Corridor, connecting Russian ports with Iran;
Nigeria: Africa's largest economy, with GDP growth projected to reach 3.6% per year in 2025-2026, according to the World Bank