Malaysia Added As BRICS Partner Country, Trade Access With Member States
BANGI, Oct 24 (Bernama) -- Malaysia, officially added to a group of 13 BRICS partner countries, will give it trade access with other partner countries within the bloc, said Universiti Kebangsaan Malaysia's Malaysian Inclusive Development and Advancement Institute (MINDA-UKM) director Professor Tan Sri Dr Noor Azlan Ghazali.
He said as a recognised partner, Malaysia will also be able to access information and the latest developments in member countries.
"It is possible that considerations will be given to a friendly partner country when there is a need to know what is happening (in that country).
"In a way, as a friend, I am sure there will be some kind of support shown, and it is possible a partner country may access the latest discussions, incentives and trade privileges," he said after a special Budget 2025 media conference here today on Malaysia’s inclusion in the bloc.
According to an update from @BRICSInfo on X , Malaysia has been officially added to the bloc, joining 12 countries that collectively account for 20 per cent of global trade.
Other partner countries are Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Nigeria, Thailand, Turkey, Uganda, Uzbekistan and Vietnam.
To recap, on July 28 2024, Prime Minister Datuk Seri Anwar Ibrahim confirmed that Malaysia applied to Russia to join the BRICS intergovernmental organisation.
Russia currently chairs the bloc, which also includes Brazil, India, China and South Africa.
BRICS, originally comprising Brazil, Russia, India and China, was established in 2009 as a cooperation platform for emerging economies. South Africa joined in 2010.
The bloc later expanded to include Iran, Egypt, Ethiopia, and the United Arab Emirates.
BRICS represents about 40 per cent of the global population and has a combined gross domestic product (GDP) of US$26.6 trillion, or 26.2 per cent of global GDP, almost equivalent to the economic strength of the Group of Seven (G7). (US$1=RM4.34).
G7 is an unofficial grouping of the world's advanced economies comprising Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.
-- BERNAMA