Addis Ababa, June 18, 2024 (Addis Walta) Malaysian Prime Minister, Anwar Ibrahim, announced that his country has planned to join the BRICS grouping of emerging economies.
Speaking to a Chinese media, Guancha, the prime minister said “We have made our policy clear and we have made our decision. We will start the formal process soon. As far as the Global South is concerned, we are fully supportive.”
Prime Minister Anwat Ibrahim joined the criticism of Brazilian president, Luiz Inacio Lula da Silva, on the dominance of US Dollar in the international trade, per Aljazeera.
He said although Malaysia had the highest investment, its currency has been attacked due to dollar dominance in the global trade. He said “A currency that is completely outside the trade system of the two countries and is irrelevant in terms of economic activities in the country, has become dominant, purely because it is used as an international currency.”
Founded in 2006, BRICS originally comprised Brazil, Russia, India, China, and South Africa, and in January 2024, the emerging economic bloc expanded its membership to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE).