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[UPDATED] PM: Malaysia to boost economic ties with BRICS for global growth

SHANGHAI: Malaysia is committed to enhancing economic and trade relations with BRICS countries for shared prosperity and a more balanced global economic development, said Prime Minister Datuk Seri Anwar Ibrahim.

In his keynote address at the opening ceremony of the 7th China International Import Expo (CIIE), Anwar said that Malaysia's decision to participate in the international organisation reflects its commitment to a shared future.

The prime minister also cited Chinese President Xi Jinping's recent remarks during the recent BRICS Summit in Kazan, Russia, urging the adoption of a spirit of shared future to oppose forces of discord and protectionism.

China had also urged BRICS members and others to uphold global peace and security and called for the bloc's members to share their experience and expertise with the world.

"Under the leadership of Xi, we have China promoting this (policy) aggressively, emphasising that the world should benefit everyone, every country, big or small.

"The principle of a shared future has also been well received by countries across Asia, Africa, Latin America and the Global South. (Hence,) this is why Malaysia agreed to participate in BRICS," he said in his keynote address.

BRICS, originally comprising Brazil, Russia, India and China, was established in 2009 as a cooperation platform for emerging economies, with South Africa joining in 2010. The bloc collectively accounts for one-fifth of global trade.

On Oct 24, Malaysia was among 13 nations officially added to BRICS as a partner country, although Malaysia is not yet a full member.

Meanwhile, Anwar commended China's phenomenal success not only in issues of governance and pragmatic policies under the leadership of Premier Li Qiang but also in ensuring that trade, investments and economic prosperity will be beneficial to the international community.

"This is, of course, not an easy remark because it is contrary to the expression of many powerful economies of the world.

"That is why I think, I would join many of my colleagues in commending China and its leadership for this departure from very obscure, condescending and unfair trading practices.

"This international expo (CIIE) provides an opportunity, not only for Chinese companies but also companies worldwide, small companies and medium enterprises to showcase their capacity and capability while attracting imports, new investments or an expansion of trade.

"Therefore, multi-country cooperation for free trade and sustainability goals must be used as a tool to advance global progress equitably, instead of as a weapon to quell competition, promote unfair advantage or create conflict."

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