Malaysia Also Wants to Join BRICS

Malaysia is also on the list of countries wanting to join the BRICS group founded by Brazil, Russia, India, China, and South Africa and, starting 2024, also includes Ethiopia, Egypt, Iran, Saudi Arabia, and the UAE in 2024.

Malaysia is the latest Southeast Asian country to express interest in the bloc. Thailand, Myanmar, Laos, and Cambodia have previously expressed a desire to join, while Vietnam and Indonesia are considering applying.

“We have made the decision and will soon start formal procedures … We are just waiting for final answers from the South African government,” said Malaysian Prime Minister Anwar Ibrahim, as quoted by Reuters with reference to Chinese internet platform Guangcha. Anwar’s words came ahead of Chinese Premier Li Qiang’s visit to Malaysia to celebrate 50 years of diplomatic relations between the two countries. A number of documents are expected to be signed during the visit, including the extension of a 5-year agreement on economic and trade cooperation.

Qatar’s Al Jazeera TV channel cites other remarks by the Malaysian prime minister: “As far as the global South is concerned, we fully support it,” endorsing criticism of the US dollar’s dominance in international trade. “Last year saw the biggest investment ever into Malaysia, but our currency was still under attack,” he continued. “The situation has improved in recent weeks. But this situation should not exist, it makes no sense and contradicts basic economic principles. A currency, which is completely outside the trading system of the two trading countries and has no significance for economic activity within the country, has become dominant only because it is used as an international currency.”