Malaysia is preparing to join the BRICS group of transition economies. Prime Minister of Malaysia Anwar Ibrahim announced this during his visit to China.
He writes about it Reuters.
“We have made a decision and will soon begin the formal procedures“, Ibrahim said, adding that he was waiting for confirmation from South Africa.
The publication also reports that five new countries (Saudi Arabia, Iran, Ethiopia, Egypt and the UAE) officially became full members of the intergovernmental association called BRICS on January 1. They joined Brazil, Russia, India, China and South Africa. The corresponding decision was made at the BRICS summer summit. However, at that time, Argentina was also going to join this association.
Anwar’s comments came ahead of Chinese Premier Li Qiang’s three-day visit this week to mark the 50th anniversary of the establishment of diplomatic relations between Malaysia and China. The countries are expected to sign several agreements, including the extension of a five-year agreement on trade and economic cooperation.
Experts are already discussing the possible consequences of this expansion for international relations and the world economy. The signing of the agreement between Malaysia and China is expected to be only the beginning of a new economic strategy within the framework of BRICS.
