Malaysia has officially been recognised as one of 13 nations added to BRICS as a partner country, a bloc that collectively represents one-fifth of global trade. This announcement was made via an update from @BRICSInfo on X, indicating the inclusion of these nations as partners, although not yet as full members.
The additional countries are Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam. This expansion highlights BRICS’s growing influence in the global economic landscape.
On July 28, Prime Minister Datuk Seri Anwar Ibrahim confirmed that Malaysia had submitted an application to join the BRICS intergovernmental organisation, which is currently chaired by Russia. The bloc originally comprised Brazil, Russia, India, and China and was established in 2009, with South Africa joining in 2010.
During a discussion with Brazilian President Luiz Inacio Lula da Silva on June 18, Anwar confirmed Malaysia’s intention to join BRICS. The bloc has expanded to include Iran, Egypt, Ethiopia, and the United Arab Emirates, demonstrating its commitment to fostering cooperation among emerging economies.
BRICS represents approximately 40 per cent of the global population and accounts for a cumulative gross domestic product (GDP) of US$26.6 trillion, or 26.2 per cent of the world’s GDP, nearly matching the economic strength of the Group of Seven (G7). The G7 consists of seven of the world’s advanced economies: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, along with the European Union. (US$1 = RM4.34).
Minister of Economy Rafizi Ramli is set to deliver Malaysia’s national statement at the BRICS Outreach/BRICS Plus Summit in Kazan, Russia, on October 24, 2024.
