Malaysia’s total trade with BRICS member countries reached RM818 billion in 2024, representing 35.2% of the country’s total global trade, said the investment, trade and industry ministry (Miti).
In a written parliamentary reply, the ministry also reported that RM104.9 billion in investments from BRICS countries had been realised in Malaysia as of last year.
The ministry said Malaysia’s engagement with BRICS as a partner country since Jan 1 is a strategic step which enables the country to explore market access opportunities, attract potential foreign investment and evaluate the broader implications before considering full BRICS membership.
“Although Malaysia is not yet a full BRICS member, the country has already benefitted economically from its ties with BRICS nations, many of which are long-standing 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.”
The response was in reply to a question from Ahmad Samsuri Mokhtar (PN–Kemaman) regarding the tangible benefits of Malaysia’s cooperation with BRICS, particularly in the areas of economic development and sustainability.
The ministry noted that Prime Minister 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 6-7 in Rio de Janeiro, Brazil.
“As a BRICS partner country, Malaysia can leverage 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,” Miti added.
The ministry also said the government sees value in strengthening joint efforts between BRICS and Asean to bring mutual benefits to both regional blocs.
It said through collaboration in areas such as 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 this year, 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 from Aug 11-13, and the Smart City Expo Kuala Lumpur on Sept 17.
“These programmes and initiatives will also involve Asean dialogue partners such as China, India and Russia, all of which are BRICS member countries,” said the ministry.
BRICS is a forum for cooperation among leading emerging economies. It currently comprises 10 countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa and the United Arab Emirates.
