Qistina Sallehuddin, Amalia Azmi
KUALA LUMPUR: The government has conducted a detailed study on all implications of Malaysia joining the intergovernmental organisation BRICS, said Prime Minister Datuk Seri Anwar Ibrahim.
During the prime minister's question time in Dewan Rakyat today, Anwar said while Malaysia had different views from other member countries of BRICS on certain issues, the matter should not hinder the country's participation in joining the organisation.
"The government took a bit of time to study the possibilities and implications (of Malaysia joining BRICS) and when we see other Asian countries that are also in the Asia Pacific Economic Cooperation (APEC) and Organisation for Economic Cooperation and Development (OECD) participating in BRICS, there is no reason why Malaysia should be excluded from such considerations.
"The same goes with our relationship with other countries, including the Western countries where we do not agree on everything. There are disagreements, such as our differences in opinion regarding the Gaza issue but this does not mean we should cut off our relationships.
"Similarly, China and Russia have different systems but they are both close to us. The United Arab Emirates (UAE) and India too have economic trade agreements with the United States and European countries that are not part of BRICS," he said in Dewan Rakyat, today (July 9).
Anwar said this in response to a supplementary question from Datuk Sri Doris Sophia Bordi who enquired whether the government had implemented a thorough study on Malaysia's participation in BRICS due to different policies and stances with member countries.
He also said that Malaysia's application to join BRICS might take some time, but a good relationship had been established between Malaysia and BRICS countries.
"However, there is a possibility of being a partner country in an immediate context or a BRICS partner country model before we finalise participation."
Meanwhile, Anwar added that the decision to join BRICS also did not contradict Malaysia's foreign policy as the country has continuously taken the approach of being a free and independent country in establishing relationships with all parties.
This, he said, was also among the reasons that the government retained the Asian Pacific Economic Cooperation (APEC) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which was signed by the previous administration.
"At the same time, the current economic reality is no longer unipolar, where the economic prowess (of a country) does not only depend on the strength of a big nation like the US, but also on new emerging powers such as China and India.
"Secondly, we also feel that global south countries should have a stance that can aid our negotiations in the World Trade Organisation (WTO) or even the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC COP 28) and Malaysia should be included in the network of issues.
"Why should we be tied to one bloc? There is a new bloc that offers competition now and we will continue to establish relationships with both blocs."
In terms of trade and gross domestic product (GDP) growth, Anwar added that the GDP gained by BRICS member countries also comprised 26.2 per cent of the world's GDP.
"The GDP of BRICS members stood at about USD26 trillion (in 2022), which is 26.2 per cent of the world's GDP.
"Therefore, by opening the channel (by joining BRICS), we are confident that it will benefit the national economy and also (local companies)."
Last month, Anwar announced that Malaysia will soon begin the process of joining the intergovernmental organisation BRICS, which comprises Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia and the United Arab Emirates (UAE).
The prime minister said Malaysia in principle had agreed to join BRICS, in which the matter had been brought to the Foreign Ministry for further study.
Anwar also said he had personally spoken to the Brazilian president Luiz Inácio Lula da Silva about Malaysia's intention to join the intergovernmental organisation.
The organisation held its first summit in Russia in 2009, with the host, Brazil, India and China as the founding members to highlight the investment opportunities in member countries.
As the group evolved, it has undergone two phases of expansion. In 2011, South Africa was formally accepted as a member and the group was renamed BRICS.
In August last year, the group extended invitations to six potential countries, including Argentina, which then reversed its decision in late December of the same year.
In January this year, four new members — Egypt, Ethiopia, Iran and the UAE — were formally admitted into the group, taking the total membership to nine countries.
BRICS countries are also considered the foremost geopolitical rival of the G7 bloc.
It has competing financial and investment initiatives, such as the New Development Bank, the BRICS Contingent Reserve Arrangement, BRICS pay and the BRICS basket reserve currency.