JAKARTA - Chief Economist & Head of Research Mirae Asset Sekuritas Rully Arya Wisnubroto welcomed the joining of Indonesia as a member of Brazil, Russia, India, China, South Africa (BRICS).

According to him, this step will have a long-term impact.

"In the short term, the impact (on the Indonesian economy) has not had much impact, it doesn't even have an impact at all. Yesterday, it was also even when Indonesia (joined into BRICS), finally the rupiah also weakened. This may be more in the long term," he said as quoted by ANTARA, Tuesday, January 14.

He continued, one of the advantages that Indonesia got to join BRICS was economic cooperation, increasing foreign investment (PMA), and being involved in the international trade market.

This is because several BRICS member countries have the potential to trade more widely with Indonesia, namely China, Russia, and India.

"So, if you join, you should also expand. However, it should also be noted why there are not many because in terms of geography, for example, like Brazil or South Africa, it's far away, right. So, that's what might have to be considered," said Rully.

In addition, Indonesia can carry out investment activities with BRICS member countries that are far away geographically.

Another advantage is that Indonesia can carry out export and import activities with BRICS member countries which are geographically closer.

"If it's far away, I think it's more likely for investment activities. If exports are imports, automatically if you can get something close," he said.


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