Malaysia-BRICS trade hits RM818 billion in 2024, MITI reports
MITI stated that Malaysia's engagement as a BRICS partner country is a strategic move to explore market access, attract foreign investments, and assess broader implications before considering full membership. 'Although Malaysia is not yet a full BRICS member, the country has already gained economically from ties with BRICS nations, many of which are existing trade and investment partners,' the ministry said.
The statement was part of a parliamentary reply to Datuk Seri Dr Ahmad Samsuri Mokhtar (PN–Kemaman), who inquired about the tangible benefits of Malaysia's cooperation with BRICS, particularly in economic development and sustainability.
Prime Minister Datuk Seri Anwar Ibrahim reinforced Malaysia's commitment to multilateral cooperation during the 17th BRICS Leaders' Summit in Rio de Janeiro, Brazil, held from July 6–7, 2025. MITI noted that Malaysia's partnership with BRICS could enhance regional supply chains, expand market access, and open new investment avenues.
'Cooperation with BRICS supports Malaysia's push for a rules-based, inclusive global trading system while strengthening economic resilience against protectionism,' MITI added. The ministry also emphasised the importance of joint efforts between BRICS and ASEAN to foster mutual benefits in trade, sustainable development, clean energy, and emerging technologies.
As ASEAN chair in 2025, Malaysia will lead initiatives such as the ASEAN AI Safety Network Declaration, the ASEAN AI Malaysia Summit (August 11–13, 2025), and the Smart City Expo Kuala Lumpur (September 17, 2025). These programmes will involve BRICS members like China, India, and Russia.
BRICS, a forum for leading emerging economies, now includes Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa, and the United Arab Emirates. - Bernama
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