Kuala lumpur: Malaysia has called for stronger cooperation among BRICS nations and their partners to create a more resilient, inclusive, and sustainable global order in response to escalating geopolitical tensions, weakened global institutions, and disruptions in supply chains.
According to BERNAMA News Agency, Foreign Minister Datuk Seri Mohamad Hasan emphasized the growing importance of BRICS cooperation as the world faces economic uncertainties and evolving geopolitical challenges. Speaking at the BRICS Partners' Foreign Ministers' Meeting, Mohamad highlighted the need for collaboration against a backdrop of weakened global structures, increased risks of geopolitical conflict, and destabilized energy markets and supply chains.
He noted that BRICS, representing some of the world's most productive economies, has the potential to enhance global resilience through increased intra-trade and cross-investment. Mohamad suggested that by leveraging their relative strengths, BRICS nations could establish a major global supply chain that is diversified, reliable, and capable of withstanding global shocks.
However, Mohamad acknowledged that resilience alone is not enough, as the current phase of global growth is increasingly influenced by technology and digital transformation. He pointed out that digital public infrastructure, fintech systems, and artificial intelligence are transforming economic functions and government service delivery. Without inclusive access, these technologies could exacerbate inequality rather than bridge gaps.
Malaysia sees value in deeper BRICS cooperation on digital governance, particularly in areas like AI, digital infrastructure, and skills development, to ensure equitable technological advancement. On sustainable development, Mohamad stressed the need for green finance to become central in global development planning. He emphasized the role of institutions like the New Development Bank in ensuring that financing is fair, accessible, and responsive to the needs of the Global South.
BRICS, which includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, the United Arab Emirates, and Indonesia, accounts for a significant share of the global population and economy, encompassing about 3.87 billion people or approximately 48.8% of the global population. By 2025, the collective GDP of BRICS member countries is projected at around US$32 trillion, representing approximately 28.5% of global output.
Malaysia, along with Belarus, Bolivia, Cuba, Kazakhstan, Thailand, Uganda, and Uzbekistan, will become BRICS Partner Countries starting January 1, 2025. Nigeria and Vietnam will obtain the same status on January 17, 2025, and June 13, 2025, respectively.