Indonesia became the 10th member of BRICS

Why in the news?

• Recently Indonesia has become the 10th member of BRICS.
• Brazil officially announced this.
• The BRICS summit of the year 2025 will be held under the chairmanship of Brazil.
• It was clear that Indonesia would join BRICS in the Johannesburg Summit in the year 2023.
• It is the 10th country to join BRICS.
• South Africa announced the joining of Saudi Arabia along with Iran, UAE, Egypt and Ethiopia in the year 2023.

BRICS summit in the year 2025:

• In July 2025, the BRICS summit will be held in Rio de Janeiro under the chairmanship of Brazil.
• This time the theme of BRICS is Global South.
• It aims to develop payment gateways to facilitate trade between member countries.
• The BRICS organization meeting was held in the year 2024 under the chairmanship of Russia.

About the BRICS group:

• It was established in September 2006.
• Initially it included Brazil, Russia, India and China.
• It was originally named BRIC.
• South Africa joined in September 2010.
• It was renamed BRICS. (B-Brazil, R-Russia, I-India, C-China and S-South Africa)
• It is headquartered in Shanghai, China.
• The presidency of the organization changes annually among the members in alphabetical order of BRICS.
• The members who recently joined BRICS are;
  • Egypt, Ethiopia, Iran and United Arab Emirates.
  • Indonesia has become the 10th member of BRICS in January 2025.

Important summits of BRICS:

• The first official meeting of the BRICS countries was held in Russia on 16 June 2009.
• India chaired the BRICS summit in the year 2021.
• During the COVID period, these summits of 2020, 2021 and 2022 were held through video conference.
• In the year 2023, the 15th summit of BRICS was held in Johannesburg, South Africa on 22-24 August.
• The 16th BRICS summit was held from October 22 to 24, 2024 in the Russian city of Kazan.