Latest news with #17thBRICSLeaders'Summit
The Sun
01-08-2025
- Business
- The Sun
Malaysia-BRICS trade hits RM818 billion in 2024, MITI reports
KUALA LUMPUR: Malaysia's trade with BRICS member countries surged to RM818 billion in 2024, making up 35.2% of the nation's total global trade, according to the Ministry of Investment, Trade and Industry (MITI). The ministry also confirmed RM104.9 billion in realised investments from BRICS nations as of last year. 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
Sinar Daily
01-08-2025
- Business
- Sinar Daily
Malaysia–BRICS trade reaches RM818 billion in 2024
It also reported that a total of RM104.9 billion in investments from BRICS countries had been realised in Malaysia as of last year. 01 Aug 2025 08:41am The BRICS countries, an acronym of the five members Brazil, Russia, India, China and South Africa, meet for three days for a summit in Johannesburg. - (Photo by Marco Longari / AFP) KUALA LUMPUR - Malaysia's total trade with BRICS member countries has reached RM818 billion, representing 35.2 per cent of the country's total global trade in 2024, according to the Investment, Trade, and Industry Ministry (Miti). In a written Parliamentary reply published on the Dewan Rakyat portal yesterday, it also reported that a total of RM104.9 billion in investments from BRICS countries had been realised in Malaysia as of last year. Malaysia's engagement with BRICS as a partner country is a strategic step, enabling it to explore market access opportunities, attract potential foreign investment, and evaluate the broader implications before deciding on full BRICS membership. 'Although Malaysia is not yet a full BRICS member, the country has already benefited economically from its ties with BRICS nations, many of which are existing trade and investment partners. 'At the same time, BRICS may also view this engagement as an opportunity to assess Malaysia's commitment to advancing the group's agenda,' Miti said. It was responding to Kemaman MP Datuk Seri Ahmad Samsuri Mokhtar's query on the tangible benefits of Malaysia's cooperation with BRICS, particularly in economic development and sustainability. Miti noted that Prime Minister Datuk Seri Anwar Ibrahim had expressed Malaysia's commitment to strengthening multilateral cooperation and inclusivity in line with BRICS principles during his participation in the 17th BRICS Leaders' Summit, held from July 6 to July 7 in Rio de Janeiro, Brazil. 'As a BRICS partner country, Malaysia can use this opportunity to enhance regional supply chain integration, broaden market access, and open new investment channels. 'Cooperation with BRICS also supports Malaysia's efforts to promote a rules-based, inclusive global trading system, while strengthening economic resilience against protectionism and economic decoupling,' it said. Miti added that the government believes in the importance of strengthening joint efforts between BRICS and Asean to bring mutual benefits to both regional blocs. Through collaboration in areas including trade, sustainable development, clean energy, and emerging technologies, both regions can improve economic resilience, expand investment opportunities, and reinforce their positions in addressing global challenges. In conjunction with Malaysia's Asean chairmanship in 2025, the country will lead several regional initiatives, including the development of the 'Declaration on the Establishment of an Asean AI Safety Network', the Asean AI Malaysia Summit 2025 (August 11 to August 13), and the Smart City Expo Kuala Lumpur on September 17. 'These programmes and initiatives will also involve Asean Dialogue Partners such as China, India, and Russia, all of whom are BRICS member countries,' it said. BRICS is a forum for cooperation among a group of leading emerging economies. It includes 10 countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa, and the United Arab Emirates. - BERNAMA More Like This
The Star
15-07-2025
- Business
- The Star
Anwar advances Malaysia's diplomatic agenda
MALAYSIA's participation in the 17th BRICS Leaders' Summit in Rio de Janeiro, Brazil, represents a major milestone in the country's ongoing commitment to constructive diplomacy, strategic economic diversification and global engagement under the leadership of Prime Minister Datuk Seri Anwar Ibrahim. Held from July 6–7, the summit marked Malaysia's debut as a BRICS partner country and as Asean Chair for 2025. Anwar's visit included high-level engagements with leaders such as Indian Prime Minister Narendra Modi, South African President Cyril Ramaphosa and Brazilian President Luiz Inacio Lula da Silva, highlighting Malaysia's renewed strategic posture in international affairs. The BRICS group was originally formed by Brazil, Russia, India and China in 2006, with the first BRIC Summit held in 2009. South Africa officially joined in 2011, expanding the bloc into BRICS. Following the Johannesburg Declaration in August 2023, the group expanded further, and as of 2024–2025, BRICS now comprises 11 members: its five original members – Brazil, Russia, India, China and South Africa – along with six new members admitted during the expansion: Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates and Indonesia. The alliance also recognises 10 partner countries — Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam. Collectively, BRICS countries account for around 45% of the world's population and approximately 35% of global GDP when measured by purchasing power parity (PPP), reflecting the bloc's growing influence in shaping global economic and geopolitical affairs. BRICS aims to strengthen economic, political and social cooperation among its members while amplifying the voice of Global South countries in international governance. Anwar's presence at the summit reaffirmed Malaysia's commitment to fostering inclusive global cooperation while advancing national interests in trade, digital innovation, renewable energy, regional security and the pursuit of a more sustainable economy. 'Malaysia has enhanced its global standing by participating in the BRICS 2025 Summit, being recognised as an important partner country that could further enlarge the grouping's expanding influence in a multipolar world,' said Prof Yeah. Strategic engagement Economist Prof Yeah Kim Leng described Malaysia's participation in BRICS as a strategic elevation of its international profile. 'Malaysia has enhanced its global standing by participating in the BRICS 2025 Summit, being recognised as an important partner country that could further enlarge the grouping's expanding influence in a multipolar world,' said Prof Yeah, who is also senior fellow and director of the Economic Studies Programme at the Jeffrey Cheah Institute on South-East Asia at Sunway University. 'It signals to investors that Malaysia will not only have continued market access to BRICS member countries but also participate in the group's expanding influence, which covers nearly half the global population.' 'Having trade and diplomatic ties with the BRICS community is the right thing to do and economic integration must occur in a timely fashion,' said Mohd Afzanizam. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid offered a similar view, but with a focus on realpolitik and economic resilience. 'It is quite clear that the United States (US) is pursuing an antagonistic trade policy and this will take some time to resolve, as it involves a series of negotiations. The Malaysian government will need to be nimble by taking a pragmatic approach. 'Having trade and diplomatic ties with the BRICS community is the right thing to do and economic integration must occur in a timely fashion,' he said. 'The government must ensure that more support is directed towards our businesses, especially micro, small and medium enterprises (MSMEs), in terms of capacity building. Ultimately, we want more Government-Linked Companies (GLCs), Government-Linked Investment Companies (GLICs), the private sector and MSMEs to be integrated with BRICS to mitigate the impact of US tariffs.' From a political standpoint, Prof Datuk Dr Sivamurugan Pandian of Universiti Sains Malaysia observed that Malaysia's BRICS participation marks a strategic pivot towards multipolar engagement. 'It enhances Malaysia's global economic and geopolitical relevance beyond traditional Western alliances. Malaysia, which practices multilateral relations and constructive engagement, sees BRICS as another platform to strengthen economic ties.' Unlocking new opportunities The summit opened doors to multiple forms of cooperation — in trade, finance, and development — from which Malaysia is well positioned to benefit. According to Prof Yeah, deeper ties with BRICS members and other Global South developing countries could unlock access to larger markets and collaborative initiatives. 'Malaysia can benefit from various initiatives carried out by BRICS countries, such as infrastructure development, climate financing and trade settlement systems based on local currencies,' he said. Mohd Afzanizam identified several key sectors where Malaysia stands to gain: 'Technology, e-commerce, tourism, healthcare, commodities, agri-food and education — these are areas where integration with BRICS economies could be mutually beneficial.' Prof Sivamurugan further emphasised that Malaysia's engagement with BRICS could help reduce dependency on the US dollar-dominated financial system. 'Malaysia stands to benefit from increased trade, investment, technology transfer, energy collaboration and alternative financial mechanisms outside the US-dollar framework,' said the political analyst. 'This visit reflects Anwar's pragmatic and balanced foreign policy — one that prioritises sovereignty, economic diplomacy and a proactive role in emerging global blocs,' said Prof Sivamurugan. Anwar's leadership The summit also offered a unique platform for Anwar to showcase his foreign policy acumen and global statesmanship. 'This visit reflects Anwar's pragmatic and balanced foreign policy — one that prioritises sovereignty, economic diplomacy and a proactive role in emerging global blocs,' said Prof Sivamurugan. Mohd Afzanizam echoed this, noting that 'Anwar promotes pragmatism and diplomacy. This can foster a longer and sustainable multilateral relationship.' Prof Yeah added that the Prime Minister's role as Asean spokesperson has elevated his stature. 'It enabled Malaysia's perspectives on various geopolitical issues to be articulated at the summit,' he said. Diplomatic bridge Malaysia's role as Asean Chair in 2025 adds further weight to its engagement with BRICS. Analysts agree that this dual role amplifies Malaysia's influence as a regional bridge. 'As one of BRICS partner countries and the Asean Chair concurrently, Malaysia, together with two other Asean member countries, Thailand and Indonesia, which are also BRICS partners, is in an influential position to foster closer economic and geopolitical relationships between the two regional groupings,' said Prof Yeah. 'Anwar in assuming the Asean Chairmanship role is also in a vantage position to resolve differences and tensions between member countries within and across the two groupings.' Mohd Afzanizam stated that Malaysia's diplomatic posture projects unity and progressiveness. 'This image can greatly boost Malaysia's role in promoting international trade,' he added. According to Prof Sivamurugan, Malaysia's engagement with BRICS enhances its credibility as Asean Chair. 'It demonstrates leadership in bridging Asean with other rising global powers.' Multilateral alignment Malaysia has long been a proponent of multilateral engagement and its BRICS participation reflects a consistent, principle-based foreign policy. 'Malaysia's well-telegraphed neutrality in Big Power competition, its core interest in free trade and openness to foreign investment from all countries are in line with its multilateral commitments,' said Prof Yeah. Prof Sivamurugan highlighted Malaysia's active promotion of South-South cooperation. 'Malaysia's engagement with BRICS complements its multilateral stance by promoting South-South cooperation, global equity and non-alignment.' Mohd Afzanizam emphasised that BRICS engagement does not conflict with Malaysia's existing commitments. 'It's about building parallel tracks of cooperation — with Asean, the EU and BRICS — in ways that reinforce our resilience,' he said. Rational engagement Some quarters have questioned the productivity or necessity of Anwar's visit to Brazil. The experts firmly counter this notion. 'International visits and participation in global and regional summits are important not only to foster closer ties and understanding among world leaders, but also to facilitate joint economic development, coordinated policy responses and conflict resolution affecting two or more countries,' said Prof Yeah. Mohd Afzanizam noted that Anwar's international presence is an asset in itself. 'Malaysia under Anwar is well respected by the international community. This has greatly facilitated trade negotiations among BRICS, Asean and the EU — resulting in favourable deals.' Prof Sivamurugan added, 'This visit is a forward-looking move to diversify partnerships, enhance Malaysia's global influence and secure national interests in a rapidly shifting world order.'
The Star
09-07-2025
- Business
- The Star
Brazil visit a boost for cooperation, says Anwar
KUALA LUMPUR: Datuk Seri Anwar Ibrahim has described his visit to the 17th BRICS Leaders' Summit in Brazil as a significant success in strengthening bilateral ties and expanding Malaysia's network of strategic cooperation at the global level. In a Facebook post, the Prime Minister said the visit had achieved its main objectives, including strengthening bilateral ties with Brazil and other member countries of the BRICS bloc. 'Malaysia's name continues to be on the lips of international investors as a result of the unwavering commitment of the entire Madani government's team in attracting high-quality investments that can drive growth and generate benefits for the people,' Bernama reported. 'Let us not be distracted by dissenting voices that attempt to belittle these efforts. 'Our journey is far from over, and we will continue to forge ahead with determination and commitment to bring real change to the country and future generations.' The Prime Minister also expressed his appreciation to all parties who contributed to the success of the mission, including ministry officers and agencies, the Malaysian Embassy in Brazil, the security team and the media. 'We continue moving forward for a Malaysia that is more respected, stable and prosperous. 'Obrigado, Brasil. Ate nos encontrarmos novamente (Thank you, Brazil. Until we meet again),' he said. Anwar departed for home on July 8 after a three-nation tour, which had earlier taken him to Italy and France.
The Sun
08-07-2025
- Business
- The Sun
Anwar praises Brazil visit success in boosting ties and cooperation
KUALA LUMPUR: Datuk Seri Anwar Ibrahim has declared his visit to Rio de Janeiro for the 17th BRICS Leaders' Summit a major success in enhancing bilateral relations and expanding Malaysia's global strategic cooperation. In a Facebook post, the Prime Minister stated that the trip met its key goals, reinforcing ties not only with Brazil but also with other BRICS nations. Anwar emphasised Malaysia's growing reputation among international investors, crediting the MADANI Government's dedication to attracting high-quality investments that drive economic growth. 'Malaysia's name continues to be on the lips of international investors as a result of the unwavering commitment of the entire MADANI Government team,' he said. He urged the public to remain focused on progress, dismissing negative voices that undermine these efforts. 'Our journey is far from over, and we will continue to forge ahead with determination and commitment to bring real change to the country and future generations,' Anwar added. The Prime Minister thanked all involved in the mission's success, including ministry officials, the Malaysian Embassy in Brazil, security personnel, and media representatives. He concluded with a message in Portuguese: 'Obrigado, Brasil. Até nos encontrarmos novamente (Thank you, Brazil. Until we meet again).' Anwar returned to Malaysia after a three-nation tour that included stops in Italy and France. The Malaysian delegation departed from Galeão Air Base at 1 pm local time.
