Kuala lumpur: Prime Minister Datuk Seri Anwar Ibrahim has called for a fairer global financing system, emphasizing that no country should be forced to choose between repaying its debts and fulfilling its obligations to its people. Addressing the National Statement on Shaping the Future for Inclusive Global Growth at the conclusion of the 18th BRICS Leaders Summit, Anwar highlighted the critical situation many developing nations face, where debt distress is causing them to allocate more resources to interest payments than essential services such as education and healthcare.
According to BERNAMA News Agency, Anwar, who also holds the position of Finance Minister, stressed that financing must be appropriate for its purpose. He underscored the importance of meeting basic needs and providing public goods without burdening countries with unsustainable debt levels. Anwar highlighted the potential role of commercial capital, provided it is deployed on sustainable and sound terms, and called for progress on initiatives like the New Development Bank, local currency settlement mechanisms, and Islamic capital markets.
The Prime Minister urged nations to take solid actions to dismantle unfair trading practices and to share development experiences, technical cooperation, and training in emerging fields such as semiconductors and artificial intelligence. He further addressed the green transition, asserting that countries should be allowed to move at different speeds and paths in alignment with their circumstances and development stages. Anwar advocated for investment in technologies such as carbon capture, utilization, and storage as part of Malaysia's transition.
Anwar also praised BRICS for its 'crucial geo-economic advantages,' noting that the bloc's vast integrated market could offer opportunities for trade diversification and help reduce member economies' dependency on traditional Western markets. He emphasized the importance of synergies created within BRICS as a driver for economic growth and shared prosperity.
Turning his attention to West Asia, Anwar stated that inclusive growth and prosperity could not be discussed amid conflicts that drive up energy prices and threaten vital sea lanes. He reiterated Malaysia's stance on respecting sovereignty, protecting civilians, and keeping global economic arteries out of conflict zones. Anwar urged those with the capacity to influence events to prevent further escalation.
Furthermore, Anwar expressed Malaysia's hope that BRICS would clearly oppose 'occupation, settler colonialism, or settler terrorism,' emphasizing that every life holds equal value regardless of its location. He concluded by noting that while BRICS could enhance choice and strengthen countries' capacity to influence global affairs, influence itself is not the ultimate goal. For Malaysia, strategic autonomy means having the freedom to choose its path and the courage to uphold that choice when necessary. As a Partner Country, Malaysia aims to contribute in this spirit.