M'sia set on stepping up economic ties with BRICS, says Tengku Zafrul
PETALING JAYA : Malaysia is committed to strengthening its cooperation in economics, trade and investment with BRICS countries, says investment, trade and industry minister Tengku Zafrul Aziz.
'Malaysia's commitment is to strengthen a rules-based and inclusive trading system. Together, we'll build a more just and progressive global economic future!' he said in a post on X today.
Tengku Zafrul's affirmation comes after his ministry said earlier today that Malaysia's engagement with multilateral platforms such as BRICS was guided by national interests and not ideological alignment.
It was responding to US president Donald Trump, who had threatened an extra 10% tariff on countries aligning with BRICS's 'anti-American' policies.
The ministry said Malaysia maintained an 'independent foreign and economic policy'.
'Our engagement with any multilateral platform is focused on trade facilitation and sustainable development.
'The US remains one of Malaysia's key economic partners, not only through trade but also through the multi-billion dollar American investments established in Malaysia for more than 50 years,' said a spokesman.
Tengku Zafrul also said side meetings with BRICS partner countries and business leaders had provided new avenues for Malaysian companies to explore markets and investment opportunities in 'future-oriented sectors'.
He said his ministry would continue to facilitate and support local companies to continue to boldly explore new markets.
'With Asean's digital economy expected to reach US$2 trillion (RM8.47 trillion) by 2030, this is a golden opportunity we cannot afford to waste,' he said.
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