Malaysia's decision to join BRICS as a partner country will enhance its role in South-South cooperation and bolster its influence in international, political and economic affairs, said Xu Qingqi, chairman of the New Asia Strategic Studies Center in Malaysia.
Malaysia and other eight countries officially became BRICS partners on January 1, 2025. The new "partner country" status was approved at the BRICS summit in October 2024, hosted by Russia in Kazan.
"Firstly, Malaysia joining BRICS as a partner country can reduce its reliance on Western, European and American countries. Second, it will increase the voice of Malaysia and other ASEAN countries in South-South cooperation and on the global stage. Currently, the world is facing the challenge of climate change. ASEAN countries are also confronting similar challenges. China has been doing well in terms of the demand for renewable energy and the pursuit of green development. So, cooperation with China can benefit Malaysia and ASEAN as a whole," Xu said.
The Regional Comprehensive Economic Partnership (RCEP) celebrated its third anniversary on Wednesday.
Xu said that the implementation of RCEP promotes trade and investment liberalization within the region and enhances trade facilitation, adding that as a member state, Malaysia has reaped significant benefits.
"Since the implementation of RCEP, Malaysia's exports to RCEP countries accounted for 29 percent of its total in 2024, which has provided significant benefits to the country. Additionally, RCEP acts as a stabilizer for the Malaysian economy, especially amidst the current unstable geopolitical environment, bringing substantial advantages to the country," he said.
Malaysia's BRICS membership to enhance regional, global influence: expert
Malaysia's BRICS membership to enhance regional, global influence: expert
