Malaysia has applied to join BRICS, which was established in 2009 as a platform for emerging economies comprising Brazil, Russia, India, and China, with South Africa joining the group in 2010.

In January, Iran, Egypt, Ethiopia, and the United Arab Emirates (UAE) joined the organisation as new members.

“India’s distinct and influential role within BRICS is of particular importance, as we recognise that our strong bilateral ties will add significant value to the dynamics of the grouping,” he said in his lecture “Towards a Rising Global South: Leveraging Malaysia-India Ties” at Sapru House, Indian Council of World Affairs here.

Anwar, who is also finance minister, said Putrajaya was confident that its entry into the group would strengthen economic links with India and open new avenues for cooperation across a broader spectrum of industries and policy areas.

He said contrary to some views that minilateral arrangements were contentious, Malaysia believed these mechanisms ultimately work towards delivering public good to benefit the people and raise living standards.

“In that vein, Malaysia will not shy away from participating in these arrangements as we see fit. Our recent application to join BRICS is a fine example.”

Anwar arrived in New Delhi on Monday for a three-day official visit to strengthen India-Malaysia ties and establish a multi-sectoral cooperation agenda for the future.

This is the prime minister’s first visit to India after assuming office in November 2022.

Total trade between Malaysia and India stands at US$16.5 billion, bolstered by a compounded annual growth rate of 8.5% over the past two decades.

Anwar added that the trade growth trajectory was a testament to the deepening economic links facilitated by frameworks such as the Malaysia-India Comprehensive Economic Cooperation Agreement and the Asean-India Free Trade Agreement.

Cumulatively, the gross domestic product (GDP) of BRICS member countries was US$25.9 trillion in 2022, with a combined population of 3.27 billion people.