Malaysia Is Officially A BRICS Partner Country
A BRICS partner country does not constitute a full membership.
By Yap Wan Xiang — 24 Oct 2024, 05:22 PM
Malaysia is now officially a partner country of BRICS, an intergovernmental organisation
The country joined the group as a partner country along 12 other nations, including Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Nigeria, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam, reported Bernama.
A partner country is not considered a full BRICS member. The economic and political bloc originally consisted of Brazil, Russia, India, China, and South Africa, but has since added four new members: Egypt, Ethiopia, Iran, and the United Arab Emirates.
Prime Minister Datuk Seri Anwar Ibrahim has repeatedly expressed Malaysia's intention to join BRICS in the past, with the country formally applying to join the group on 28 July.
Earlier, on 18 June, Anwar conveyed his intentions to Brazilian President Luiz Inacio Lula da Silva during a discussion.
Founded in 2009, BRICS currently represents about 40% of the global population and accounts for a cumulative gross domestic product (GDP) of USD26.6 trillion (RM115.7 trillion)
This substantial figure represents about 26.2% of the world's GDP, nearly matching the economic strength of the Group of Seven (G7), which includes the US, Germany, Canada, France, the UK, Italy, and Japan, reported Bernama.
BRICS aims to bring together the world's most important developing countries to challenge the political and economic dominance of wealthier Western nations.
The group has previously announced plans to form a new reserve currency to counter US dollar hegemony, aligning with Anwar's aspiration for Malaysia to reduce its reliance on the US dollar.
Economy Minister Rafizi Ramli is scheduled to represent Malaysia to deliver a statement at the BRICS Outreach/BRICS Plus Summit in Kazan, Russia today, 24 October.
