BRICS Plus Trade Has Surpassed G7 Countries

Illustration (Photo: Doc Antara)

JAKARTA - Chief of Staff for the International Chamber of Commerce, Davide Cichero revealed, currently, the combined gross domestic product (GDP) of the BRICS countries (Brazil, Russia, India, China, and South Africa) has surpassed the G7 group.

This, he said, after Egypt, Ethiopia, Iran, and the United Arab Emirates joined the group in early 2024.

"There are already a number of economic blocks around the world, whether it's ASEAN, whether it's APEC, whether it's the G7, G20, and the like. But what we see, and I think this is clearly something interesting for a number of players in ASEAN, is clearly the emergence of the BRICS+ group," he said, Thursday, November 28.

He said, with the joining of Egypt, Ethiopia, Iran, and the United Arab Emirates, the contribution of BRICS Plus to global GDP has exceeded 35 percent.

"These countries combined represent more than 35 percent of global GDP, a higher share than the G7 countries," he continued.

For information, the G7 is a large group of developed countries such as the United States, Italy, England, France, Japan, Canada, and Germany.

Cichero said, with this achievement, the International Chamber of Commerce is paying special attention to the development of the BRICS Plus member countries.

The reason is, there is an intensification of economic and trade integration in the BRICS Plus countries.

In addition, trade in goods between BRICS+ countries has exceeded trade between BRICS+ member countries and the G7.

"So overall, from our perspective, from the International Chamber of Commerce, we see this development with great attention," he continued.

Regarding Indonesia's joining BRICS, Indonesian Foreign Minister Sugiono previously officially conveyed Indonesia's desire to join the BRICS economic bloc at the BRICS Plus Summit in Kazan, Russia, October 24, 2024.

The statement shows that Indonesia views that there is a similarity between the organization's goals and national interests.

BRICS priorities are also in line with the work program of President Prabowo Subianto's government, including food and energy security, poverty eradication, and the advancement of natural resources.

"(RI's joining BRICS) does not mean that we are joining a particular camp, but rather that we are actively participating in all forums," Sugiono emphasized, June 25 October.