Anwar Announces Plans For Malaysia To Join BRICS
Prime Minister Dato’ Seri Anwar Bin Ibrahim has recently announced Malaysia’s intentions to join the BRICS economic bloc in order to strengthen trade and economic ties.
According to an interview with the Chinese news outlet Guancha, which aired ahead of a scheduled visit by Chinese Premier Li Qiang to Malaysia, Anwar said that the government has indicated as a policy that Malaysia is joining the economic bloc and that the decision is made and formal procedures would soon follow.
What is BRICS membership?
The BRICS acronym stands for Brazil, Russia, India, China and South Africa, and represents a group of emerging nations that has doubled in size since the start of 2024. Most members are developing countries, but it also consists of some of the biggest energy producers and consumer populations in the world, potentially enhancing the group’s economic clout in a US-dominated world.
From 1 January onwards, Saudi Arabia, Iran, the United Arab Emirates, Ethiopia and Egypt all accepted invitations to join the economic bloc. Argentina was invited, but later declined the invitation. Venezuela is expected to join later this year.
Anwar’s comments come as China seeks to deepen ties with smaller nations like Malaysia that have asserted its neutrality in the increasingly intense US-China competition.
The group is not a formal multilateral organisation like the United Nations, World Bank or the Organisation of the Petroleum Exporting Countries (OPEC). The heads of state and government of the member nations convene annually with each nation taking up a one-year rotating chairmanship of the group.
