KUALA LUMPUR, July 31 — Malaysia’s total trade with BRICS member countries has reached RM818 billion, representing 35.2 per cent of the country’s total global trade in 2024, according to the Investment, Trade, and Industry Ministry (Miti).
In a written Parliamentary reply published on the Dewan Rakyat portal today, it also reported that a total of RM104.9 billion in investments from BRICS countries had been realised in Malaysia as of last year.
Malaysia’s engagement with BRICS as a partner country is a strategic step, enabling it to explore market access opportunities, attract potential foreign investment, and evaluate the broader implications before deciding on full BRICS membership.
“Although Malaysia is not yet a full BRICS member, the country has already benefited economically from its ties with BRICS nations, many of which are existing trade and investment partners.
“At the same time, BRICS may also view this engagement as an opportunity to assess Malaysia’s commitment to advancing the group’s agenda,” Miti said.
It was responding to Kemaman MP Datuk Seri Ahmad Samsuri Mokhtar's query on the tangible benefits of Malaysia’s cooperation with BRICS, particularly in economic development and sustainability.
Miti noted that Prime Minister Datuk Seri Anwar Ibrahim had expressed Malaysia’s commitment to strengthening multilateral cooperation and inclusivity in line with BRICS principles during his participation in the 17th BRICS Leaders’ Summit, held from July 6 to July 7 in Rio de Janeiro, Brazil.
“As a BRICS partner country, Malaysia can use this opportunity to enhance regional supply chain integration, broaden market access, and open new investment channels.
“Cooperation with BRICS also supports Malaysia’s efforts to promote a rules-based, inclusive global trading system, while strengthening economic resilience against protectionism and economic decoupling,” it said.
Miti added that the government believes in the importance of strengthening joint efforts between BRICS and Asean to bring mutual benefits to both regional blocs.
Through collaboration in areas including trade, sustainable development, clean energy, and emerging technologies, both regions can improve economic resilience, expand investment opportunities, and reinforce their positions in addressing global challenges.
In conjunction with Malaysia’s Asean chairmanship in 2025, the country will lead several regional initiatives, including the development of the “Declaration on the Establishment of an Asean AI Safety Network”, the Asean AI Malaysia Summit 2025 (August 11 to August 13), and the Smart City Expo Kuala Lumpur on September 17.
“These programmes and initiatives will also involve Asean Dialogue Partners such as China, India, and Russia, all of whom are BRICS member countries,” it said.
BRICS is a forum for cooperation among a group of leading emerging economies. It includes 10 countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa, and the United Arab Emirates.
