Malaysia affirms cooperation with BRICS group despite US tariff threat
(MENAFN) Malaysia on Tuesday reiterated its strong dedication to enhancing economic, trade, and investment ties with the BRICS group of nations, highlighting the transformative potential of artificial intelligence (AI) as a key driver for inclusive global growth.
This affirmation followed a warning from U.S. President Donald Trump issued late Sunday, in which he stated that any country supporting what he described as “anti-American policies” linked to the BRICS alliance would be subjected to an extra 10% tariff.
Speaking on the matter, Investment, Trade and Industry Minister Zafrul Abdul Aziz stressed the importance of seizing opportunities within Southeast Asia’s expanding digital economy. “With Asean’s digital economy expected to reach US $2 trillion by 2030, this is a golden opportunity that we cannot afford to waste,” he stated.
According to reports, Zafrul emphasized that Malaysia would remain proactive in helping domestic firms pursue new international opportunities. He underscored the country’s continued support for a trading system that is inclusive and grounded in rules.
"Malaysia’s commitment is to strengthen a rules-based and inclusive trading system," he said, adding, “Together, we build a more just and progressive global economic future.”
The minister was part of the delegation led by Prime Minister Anwar Ibrahim attending the 17th BRICS Leaders’ Summit held in Brazil.
BRICS nations have in recent years discussed reducing their reliance on the U.S. dollar, a conversation that has gained momentum since Washington imposed sanctions on Russia in 2022 following its military action in Ukraine.
This affirmation followed a warning from U.S. President Donald Trump issued late Sunday, in which he stated that any country supporting what he described as “anti-American policies” linked to the BRICS alliance would be subjected to an extra 10% tariff.
Speaking on the matter, Investment, Trade and Industry Minister Zafrul Abdul Aziz stressed the importance of seizing opportunities within Southeast Asia’s expanding digital economy. “With Asean’s digital economy expected to reach US $2 trillion by 2030, this is a golden opportunity that we cannot afford to waste,” he stated.
According to reports, Zafrul emphasized that Malaysia would remain proactive in helping domestic firms pursue new international opportunities. He underscored the country’s continued support for a trading system that is inclusive and grounded in rules.
"Malaysia’s commitment is to strengthen a rules-based and inclusive trading system," he said, adding, “Together, we build a more just and progressive global economic future.”
The minister was part of the delegation led by Prime Minister Anwar Ibrahim attending the 17th BRICS Leaders’ Summit held in Brazil.
BRICS nations have in recent years discussed reducing their reliance on the U.S. dollar, a conversation that has gained momentum since Washington imposed sanctions on Russia in 2022 following its military action in Ukraine.
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