KUALA LUMPUR (BERNAMA) – Malaysia has been recognised as one of 13 nations officially added to BRICS as a partner country, a bloc that collectively accounts for one-fifth of global trade.
According to an update from @BRICSInfo on X, the bloc officially added 13 new nations to the alliance as partner countries, though not yet as full members.
Apart from Malaysia, the other 12 nations were Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Nigeria, Thailand, Turkey, Uganda, Uzbekistan and Vietnam.
For the record, on July 28, the Prime Minister, Datuk Seri Anwar Ibrahim, confirmed that Malaysia had submitted an application to Russia to join the BRICS intergovernmental organisation.
Russia currently chairs the bloc, which also includes Brazil, India, China and South Africa.
On June 18, Anwar confirmed Malaysia’s intention to join BRICS during a discussion with Brazilian President Luiz Inacio Lula da Silva.
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 has since expanded to include Iran, Egypt, Ethiopia, and the United Arab Emirates.
BRICS represents about 40 per cent of the global population and accounts for a cumulative gross domestic product (GDP) of USD26.6 trillion, or 26.2 per cent of the world’s GDP, nearly matching the economic strength of the Group of Seven (G7). (USD1 = MYR4.34).
The G7 is an informal grouping of seven of the world’s advanced economies, including Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, as well as the European Union.
Minister of Economy, Rafizi Ramli, is scheduled to deliver the country’s national statement at the BRICS Outreach/BRICS Plus Summit in Kazan, Russia, on Oct 24, 2024.
