Malaysia plans to join Brics, says PM Anwar ahead of China premier’s visit

KUALA LUMPUR – Prime Minister Anwar Ibrahim has said Malaysia will join the Brics economic bloc, becoming the latest country to take part in an expanding group seen challenging the western-led global order.

“We have indicated, as a policy, that we are” joining, Datuk Seri Anwar said in an interview with the Chinese news outlet Guancha, aired ahead of a scheduled visit by Chinese Premier Li Qiang to Malaysia.

“We have made a decision. We are placing the formal procedures soon.”

The Brics group of emerging-market nations – the acronym stands for Brazil, Russia, India, China and South Africa – doubled in size at the start of 2024.

The bloc is pairing some of the planet’s largest energy producers with some of the biggest consumers of developing countries, potentially enhancing the group’s economic clout in a US-dominated world.

Saudi Arabia, Iran, the United Arab Emirates, Ethiopia and Egypt accepted invitations to join starting on Jan 1.

Argentina was invited as well, but President Javier Milei, who took office on Dec 10, decided against joining.

Venezuelan President Nicolas Maduro said in May his country expects to join Brics during its summit in October.

Mr Anwar’s comments come as China seeks to deepen ties with smaller nations like Malaysia that have asserted its neutrality in the increasingly intense US-China competition.

Mr Li and Mr Anwar will witness the signing of several memorandums of understanding and agreements, including on digital economy, green development and the export of agriculture-related commodities to China, according to the Malaysian Foreign Ministry. BLOOMBERG