Latest news with #BrazilianNationalConfederationofIndustry
New Straits Times
3 hours ago
- Business
- New Straits Times
Anwar urges BRICS to emulate Asean and boost intra-member trade
RIO DE JANEIRO: Asean's move to trade in local currencies among its member states is part of efforts to strengthen the financial system and be free of unilateral domination. Prime Minister Datuk Seri Anwar Ibrahim said this is also one of the steps towards reforming Asean, which had previously focused on boosting trade among member states. "Malaysia, together with Indonesia, Thailand and China, have begun using our own currencies (to trade), even though it makes up only 10 to 20 per cent of total trade. "This signals change as we cannot continue to complain without carrying out our own plans," he said at the BRICS Economic Forum, held in conjunction with the BRICS Summmit here. Also present were Brazil president Luiz Inacio Lula da Silva, vice-president of Brazil Geraldo Alckim, and Brazilian National Confederation of Industry (CNI) president Ricardo Alban. Anwar said trade among BRICS members should be intensified to the same level as Asean's. "Right now, we must increase intra-BRICS trade. We have a huge potential for progress, and only with that strength can we negotiate safely and fairly with other partners." Malaysia's participation in the summit is due to its status as a BRICS partner country, and as the 2025 Asean chair. Malaysia became a BRICS partner country on Jan 1 this year.
New Straits Times
8 hours ago
- Business
- New Straits Times
PM to deliver keynote address at BRICS Business Forum
RIO DE JANEIRO: Prime Minister Datuk Seri Anwar Ibrahim will deliver the keynote address at the BRICS Business Forum, held in conjunction with the 17th BRICS Leaders' Summit, today at 9am (8pm Malaysian time). Anwar, who has just arrived in Rio de Janeiro, will be joined by Brazilian President Luiz Inácio Lula da Silva, who also serves as president of the Brazilian National Confederation of Industry, in delivering the keynote. Malaysia is participating in the summit as a BRICS partner country and as the incoming chair of Asean for 2025. The country officially became a BRICS partner on Jan 1 this year. During his visit to Rio de Janeiro, Anwar, who is also finance minister, is scheduled to hold a business meeting with Brazilian multinational aerospace company Embraer. The Prime Minister is accompanied by Transport Minister Anthony Loke; Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz; Energy Transition and Water Transformation Deputy Minister, Akmal Nasrullah Mohd Nasir; and senior government and corporate officials. Bilateral trade between Malaysia and Brazil is projected to rise by 14.6 per cent to RM20.35 billion in 2024, up from RM17.43 billion in 2023, maintaining Brazil's position as one of Malaysia's top trading partners in Latin America.
