🌍 Malaysia Seeks BRICS Membership to Enhance Global Economic Ties

🇲🇾 Malaysia has formally applied to join the BRICS group of emerging economies. Prime Minister Datuk Seri Anwar Ibrahim announced that Malaysia has submitted its application to 🇷🇺 Russia, the current BRICS chair, emphasizing the country's interest in strengthening trade and investment relations on a global scale.

This application marks a strategic effort by Malaysia to benefit its traders, investors, and business community by joining a bloc that represents a substantial portion of the world's economy. The inclusion of Malaysia is seen as a move to make BRICS more inclusive and representative of developing countries' interests.

BRICS, which originally included 🇧🇷 Brazil, 🇷🇺 Russia, 🇮🇳 India, 🇨🇳 China, and 🇿🇦 South Africa, recently expanded to include 🇮🇷 Iran, 🇪🇬 Egypt, 🇪🇹 Ethiopia, and 🇦🇪 United Arab Emirates. The group's combined GDP amounts to $26.6 trillion, representing 26.2% of the world's GDP and 45% of the global population.

South African envoy, speaking on the matter, highlighted that BRICS is not about de-dollarisation but about using national currencies to service loans and pay for trade and investments, thereby reducing dependency on the US dollar. This approach aligns with Malaysia's broader economic goals within the ASEAN region.

The potential inclusion of Malaysia in BRICS is expected to enhance cooperation in various fields, including trade, investment, climate change, and public health, furthering the group's influence on the global stage.

For more details, you can refer to the full articles on BRICS Russia 2024 and Bernama【10†source】 oai_citation:1,Russian 2024 BRICS Chairmanship oai_citation:2,BERNAMA - Malaysia Joining Brics Will Make Grouping More Inclusive, Representative -- South African Envoy