Politics

Malaysia's BRICS Membership Set to Strengthen Economic Ties with India

Aug 18, 2024 1 min read

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Malaysia's potential entry into BRICS, the intergovernmental organization comprising Brazil, Russia, India, China, and South Africa, is anticipated to enhance economic collaboration with India. Founder of the ASEAN-India Business Council, Datuk Ramesh Kodammal, highlighted that this move aligns with shared interests in the Indo-Pacific region, positioning Malaysia as a significant trade and investment hub. He noted that Malaysia's integration into BRICS would offer a strategic advantage in bolstering economic ties with India.

Prime Minister Datuk Seri Anwar Ibrahim and Russian Foreign Minister Sergey Lavrov discussed Malaysia's application for BRICS membership during a recent meeting. The Indian government has also introduced a 30-day double-entry electronic visa for Malaysians at no cost from July 1, 2024, to June 30, 2025, which is expected to further boost tourism between the two countries. Discussions are anticipated to focus on continuing and potentially expanding this visa-free policy to enhance bilateral relations.

Additionally, Malaysia's involvement in BRICS aligns with its membership in ASEAN, aiming to address global challenges like climate change and technological disruption. This participation is seen as a way to strengthen regional cohesion and maintain its role as a neutral and cohesive bloc, potentially expanding Malaysia's strategic and economic horizons.

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