Malaysia’s BRICS partner status set to contribute to economic growth gains - Tengku Zafrul

KUALA LUMPUR: The Malaysian government hopes that the country's recent recognition as a BRICS partner will contribute to economic growth and export expansion over the long term, said the Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He highlighted Malaysia's potential to play a key role in strengthening the global supply chain, particularly in critical sectors such as semiconductor and other strategic industries.

"We have gained the trust of BRICS members in the country's leadership.

"BRICS countries currently account for approximately 26 per cent of the world's gross domestic product, nearly matching the economic strength of the G7 nations," he said during the question-and-answer session in the Dewan Rakyat on Tuesday.

He was responding to a supplementary question from Datuk Seri Amirudin Shari (PH-Gombak) regarding the impact of Malaysia's inclusion as a BRICS partner country.

Meanwhile, he emphasised Malaysia's clear stance of not exploiting international trade conflicts.

"Malaysia has always adhered to the policy of non-alignment with any major economic power in handling international issues, including the trade war involving the United States (US), China, and Russia.

"To avoid being entangled in global trade disputes among major economic powers, the government will continue to prioritise diplomatic relations and trade ties with all countries," he said.

Tengku Zafrul said that Malaysia will continue to enhance diplomatic relations to maintain positive trade ties with all trading partners, including the US, China and Russia, as well as non-traditional trading partners.

"Malaysia, as an open trading nation, always believes in the open-economy approach and having friendly policies. We want to be pragmatic and foster a conducive trade and investment climate," he added.

-- BERNAMA