Malaysia Calls for Stronger BRICS Role in Global Trade

Prime Minister urges intra-trade boost, reform of international institutions

Amid rising protectionism, **Malaysian** Prime Minister **Anwar** is urging BRICS nations to increase trade among themselves and become a powerful force promoting fair practices on the global stage.

Boosting Intra-BRICS Trade

**Anwar** addressed the 17th BRICS Leaders’ Summit in Rio De Janeiro, emphasizing the bloc’s potential. He stated that Malaysian companies should actively seek new international markets and trading opportunities.

The Prime Minister voiced confidence in BRICS’ capacity to stimulate trade within the group, which accounts for nearly 40% of the global economy.

“With that collective strength, we can engage the world safely, fairly, and justly, negotiating on equal terms with all partners in the multilateral system,”

—Anwar, Prime Minister of Malaysia

Additionally, **Anwar** stressed the need to overhaul major international organizations. He advocated for the transformation of global governance structures to ensure a more democratic and equitable multilateral order.

Reforming Global Institutions

**Anwar** stated key institutions, including the United Nations, World Trade Organization, International Monetary Fund and the World Bank, must undergo reforms.

**Anwar** voiced his support for **Brazilian** President **Luiz Inácio Lula da Silva**, praising his courage to advocate for marginalized communities. The PM highlighted the importance of strategic cooperation between BRICS and ASEAN members, emphasizing cross-regional trade and investment. In 2023, ASEAN was the United States’ fourth-largest goods trading partner, with $368.1 billion in total trade (U.S. Census Bureau).

Private Sector and New Markets

The Malaysian PM noted the importance of private sector participation, women, youth, and civil society. He advised Malaysian businesses to explore beyond traditional markets and tap into new opportunities offered by platforms like BRICS. **Anwar** lauded **Petronas** and **Yinson Production** for their ventures in Brazil.

**Yinson**, which specializes in floating, production, storage and offloading (FPSO) vessels, currently has three projects underway in Brazil since 2023: FPSO Anna Nery, FPSO Maria Quiteria and FPSO Atlanta.

**Anwar** has instructed Trade and Industry Minister **Tengku Zafrul Abdul Aziz** to assist Malaysian companies doing business in Brazil.

Bilateral Discussions

During a meeting with **Lula**, **Anwar** stated that both leaders addressed key bilateral issues and that **Lula** accepted an invitation to visit Malaysia during the ASEAN Summit in October.

Malaysia officially became a BRICS partner country on January 1, participating in the summit as both a partner and as the ASEAN Chair for 2025.

Malaysia-Brazil Trade

Trade between Malaysia and Brazil saw a 14.6% increase in 2024, reaching RM20.35 billion (US$4.38 billion). Brazil stands as one of Malaysia’s primary trading partners within Latin America.

Initially founded by Brazil, Russia, India, and China, the BRICS group has expanded to include South Africa, Egypt, Ethiopia, Iran, the United Arab Emirates (UAE), and Indonesia, with other nations like Malaysia accepted as partner countries.