Fiona Nanna, ForeMedia News

4 minutes read. Updated 4:51PM GMT Mon, 29July, 2024

Malaysia has officially applied to join the BRICS group of emerging economies, as announced by Prime Minister Anwar Ibrahim on Sunday. This application comes during a pivotal moment as Russian Foreign Minister Sergey Lavrov visits Malaysia for a two-day diplomatic engagement.

During their meeting, Prime Minister Anwar Ibrahim emphasized that Malaysia’s bid for BRICS membership reflects the country’s dedication to enhancing international collaboration. “Our application for BRICS membership underscores our commitment to fostering robust international collaboration,” Ibrahim stated. The Prime Minister highlighted the country’s aspiration to strengthen bilateral relations with BRICS nations in critical sectors such as investment and trade, science and technology, agriculture, defense and military, education, and tourism and culture.

Foreign Minister Sergey Lavrov, representing Russia—currently holding the rotating chair of BRICS—expressed Russia’s support for Malaysia’s application. Lavrov indicated that Russia is prepared to advocate for Malaysia’s inclusion in the group, which is a testament to the strengthening ties between the two nations.

Founded in 2006, the BRICS group originally comprised Brazil, Russia, India, China, and South Africa. Earlier this year, the group expanded to include Saudi Arabia, Egypt, Ethiopia, Iran, and the United Arab Emirates. This expansion reflects BRICS’s growing influence, now representing a combined population of approximately 3.5 billion people, or 45% of the global population. The economies of BRICS members collectively account for more than $28.5 trillion, which constitutes about 28% of the world’s economic output.

Malaysia’s move to join BRICS comes as the group continues to play a significant role in global economic and political arenas. The potential membership could offer Malaysia enhanced opportunities for trade and diplomatic engagement on a larger scale, aligning with its broader international strategy.

For more details on BRICS and global economic developments, visit BRICS Official Website and Kuala Lumpur News.