KUALA LUMPUR: The government will continuously assess the development of the BRICS bloc to ensure that Malaysia's involvement brings significant benefits to the country, in line with the economic policies such as the MADANI Economic Aspirations and the New Industrial Master Plan 2030.
The Ministry of Investment, Trade, and Industry (MITI) believes that Malaysia could potentially reap various economic benefits through closer engagement with the BRICS economic bloc.
One key advantage for Malaysia is the opportunity to make BRICS a platform to present its views and positions on regional economic issues through dialogues, forums, and discussions with BRICS member countries.
"Engagement in these dialogues and discussions opens the door for Malaysia to diversify and strengthen strategic relations with BRICS member nations.
"By emphasising neutrality, without compromising existing relationships with major trading partners, Malaysia can seize the opportunity to enhance economic ties with countries such as Brazil, South Africa, and the United Arab Emirates in strategic sectors like the Halal industry, biodiversity, and sustainable development," MITI said in a written reply on Parliament's website today.
It said this in response to a question from Ganabatirau Veraman (PH-Klang), who sought government assurance that the nation's BRICS membership would remain focused on investment and trade cooperation.
Ganabatirau also inquired about the measures that would be taken if BRICS evolved into a military cooperation in the future.
In response, MITI explained that it had been informed that the Malaysian Armed Forces (ATM) would need to adopt several strategic measures to adapt to such a new landscape.
"If BRICS shifts towards military cooperation, it could potentially alter the global balance of power, particularly with major nations like China and Russia, which wield significant military influence," the ministry added.
Currently, BRICS countries with bilateral defence cooperation with Malaysia include Russia, India, China, South Africa, Egypt, and the United Arab Emirates.
Meanwhile, Brazil, Iran, and Ethiopia have yet to establish bilateral defence cooperation with Malaysia.
– BERNAMA