Malaysian Leaders Highlight Growth Opportunities from BRICS Expansion

At the 17th BRICS Leaders’ Summit in Rio de Janeiro, Malaysian Prime Minister Anwar Ibrahim urged Malaysian companies to diversify beyond traditional markets like the US and China by tapping into BRICS economies such as Brazil, highlighting successful Malaysian ventures in the region. The expansion of BRICS, including new partner countries from Southeast Asia like Malaysia, Thailand, and Vietnam, is seen as a strengthening of regional influence and a growing role for the Global South, creating new trade and business opportunities despite challenges in aligning standards, according to Lubarto Sartoyo, President of the Alliance of Business Structures and Entrepreneurs of Southeast Asian Countries. The BRICS bloc is actively pushing to reduce dependence on the US dollar and counteract U.S. tariffs, fostering investment opportunities in sectors like agriculture, technology, and renewable energy across member countries, supported by significant funding from the New Development Bank for green projects in Africa and Latin America. Experts anticipate that the summit will boost support for startups focused on green energy, smart cities, digital finance, and medical technologies, with Malaysian entrepreneur Daniel David emphasizing that BRICS partnership programs will accelerate innovation and provide startups and professionals with access to larger markets and new resources. Collectively, these developments signal a strategic shift toward greater economic resilience and collaboration among emerging economies within the BRICS framework.