Malaysia to join BRICS; China's Xi is an 'exceptional leader', Anwar says | Business and Economy


The Malaysian leader criticizes the “Western narrative” surrounding the October 7 Hamas attack on Israel.

Malaysia is planning to join the BRICS group of emerging economies, the Southeast Asian country's leader said.

In an interview with Chinese media outlet Guancha, Malaysian Prime Minister Anwar Ibrahim said his government would soon begin the process of joining the bloc, once it had received feedback from South Africa.

“We have made our policy clear and we have made our decision. We will soon begin the formal process. As far as the Global South is concerned, we fully support it,” Anwar said, according to the Shanghai-based outlet.

Anwar also backed comments by Brazilian President Luiz Inácio Lula da Silva criticizing the dominance of the US dollar in international trade.

“Last year, Malaysia had the biggest investment in its history, but the currency was still attacked. Well, it has decreased in recent weeks. But it doesn't make sense, it goes against basic economic principles,” Anwar said.

“Why? A currency that is completely outside the trading system of the two countries and is irrelevant in terms of economic activities in the country, has become dominant, simply because it is used as an international currency.”

Founded in 2006, the BRICS originally consisted of Brazil, Russia, India, China and South Africa.

In January, the bloc expanded its membership to include Egypt, Ethiopia, Iran and the United Arab Emirates (UAE).

In his interview, Anwar said the rise of China had “brought us a ray of hope that there are checks and balances in the world” and praised Chinese President Xi Jinping for recognizing the importance of rejuvenating Asian values.

“When I first met President Xi Jinping, I was attracted to him because President Xi is one of the few prominent leaders who talks about civilization. In a sense, he is unique,” ​​he stated.

The Malaysian leader also took aim at a “Western narrative” that he said focused excessively on the October 7 Hamas attack on Israel.

“People keep talking about October 7, which bothers me. Do you want to erase 70 years of history by insisting on one event? This is the Western narrative. You see, this is the problem with the West. They want to control speech, but we can no longer accept it because they are no longer a colonial power and independent countries should have the freedom to express themselves,” Anwar said, according to Guancha.

Anwar made his comments ahead of Chinese Premier Li Qiang's visit to mark the 50th anniversary of diplomatic relations between China and Malaysia.

During Li's three-day visit starting Tuesday, Kuala Lumpur and Beijing are expected to renew a five-year economic cooperation agreement and sign agreements to collaborate in areas including the digital economy and green development.

China has been Malaysia's largest trading partner since 2009, with total trade reaching 450.84 billion ringgit ($98.9 billion) last year.

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