BRICS membership: Malaysia’s potential benefits and challenges

Free Malaysia Today

Joining the bloc may lead to enhanced market access and currency diversification, but may also put the country under scrutiny from the West.   Read More: https://www.freemalaysiatoday.com/posts/preview/?p=dENCZ20weUc4dUxhUHllOXJPR29ObHZ2cFkxRVVwOVE3M0FIN01LMmpVRT0=  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #BRICS #EconomicBloc #GlobalTrade

Transcript

00:00Prime Minister Anwar Ibrahim's announcement last month that Malaysia is seeking to join

00:07the BRICS economic bloc has sparked much discussion about its potential impact on the country.

00:14BRICS is an international organisation comprising Brazil, Russia, India, China and South Africa,

00:21with recent additions Iran, Egypt, Ethiopia and the UAE.

00:27The combined economic strength of these countries positions BRICS to significantly reduce dependency

00:32on the dollar and promote a more multi-polar currency system in global trade.

00:38Security and strategy analyst Collins Chong of University Malaya says joining BRICS would

00:44enhance Malaysia's market access, allowing it to participate in a credible platform for

00:49trade, supply chains and technology collaboration among emerging non-Western powers.

00:56Bank Muamalat Malaysia Berhad's chief economist, Afzal Nizam Abdul Rashid, said BRICS membership

01:02would enhance Malaysia's currency diversification in trade settlements.

01:06However, Chong warned that joining the bloc could subject Malaysia to increased scrutiny

01:11and wariness from the West, particularly concerning the country's long-term policy alignment.

01:18Meanwhile, Afzal Nizam said Malaysia must ensure its participation in BRICS does not

01:24result in tariff and non-tariff measures imposed by G7 nations.

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