MercoPress. South Atlantic News Agency

Brazil says BRICS is large enough for the moment

Antonio Patriota favours consolidation of the brand

Brazil does not want to see the BRICS group of emerging countries enlarged for the time being but demands the developing world be given a greater say in international bodies, the country's foreign minister said on Wednesday.

In an interview with Reuters, Antonio Patriota said that the BRICS group (Brazil, Russia, India, China and South Africa) was fine as it was, brushing off a suggestion Indonesia may be admitted to the club.

“I think our own preference would be to consolidate the BRICS' brand with its current membership,” he said, speaking on the Indonesian resort island of Bali.

“We would rather consolidate the current composition of BRICS and maybe engage as 'BRICS plus' with additional partners,” Patriota added, on the sidelines of a meeting of Southeast Asian nations, attended by Brazil for the first time to sign a co-operation agreement with ASEAN.

However Patriota underlined that “we are ascribing any lesser importance to our relationship with Indonesia and the ASEAN countries that share, in addition to a similar degree of economic development and similar challenges, many other characteristics”.

South Africa was admitted to the group earlier this year at a BRICS summit in China. Other countries which economists and diplomats have mentioned as future members include Mexico and Turkey.

The BRICS, who represent around one-fifth of the world's economy, have emerged as a powerful new voice in the world, at least on economic issues but have shown less ability to coordinate on trickier diplomatic matters like Libya.

Brazilian officials have stated that with the rising influence and economic clout of developing nations, they should also be given a bigger say in institutions such as the International Monetary Fund.