Speaking at the plenary session of the 9th Eastern Economic Forum in Russia on Thursday (Sept 5), Prime Minister Datuk Seri Anwar Ibrahim said joining the intergovernmental organisation BRICS will not only allow Malaysia to benefit from the Global South economies but also enable the nation to share its expertise, especially due to its position as a semiconductor hub in the region.
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00:00The rise of the Global South does not signify merely a shift of economic power but a reconfiguration
00:11of global influence.
00:14Encompassing countries across Asia, China, India, Africa, and Latin America, the Global
00:22South is on a trajectory to play a pivotal role in reshaping the future of the world
00:29economy.
00:30According to recent estimates, the Global South now accounts for roughly 40% of the
00:36world's economic output and is home to about 85% of the global population.
00:44By 2030, it is projected that three of the four largest economies will be from the Global
00:51South.
00:53This rise is a reality that presents both challenges and opportunities.
01:00For Malaysia, it is essential there will be strong ties to share in the growth and to
01:08contribute to a more balanced global order.
01:13Like Russia, we see the potential of these developing economies and we are committed
01:19to fostering partnerships that can drive mutual prosperity.
01:25In this vein, Malaysia is actively pursuing opportunities within the Global South and
01:30joining fellow nations that seek to create a new paradigm of development, one that is
01:37more inclusive, equitable, sustainable, and resilient.
01:43In applying to join BRICS, Malaysia aims to diversify our economic diplomacy efforts and
01:50enhance collaboration.
01:51I would like to take a moment to express my profound thanks and gratitude to President
02:00Putin for his gracious invitation for me to attend the forthcoming BRICS Summit in Kazan
02:07in October.
02:08We are entering an era marked by intense superpower rivalry, significant global economic upheavals,
02:24as well as trade and technology as tools to consolidate power bases against the growing
02:30existential threat of climate change.
02:35Together we should continue to cooperate, speak in a unified voice, and exchange ideas
02:42and strategies and best policy practices to build a future of even greater peace and prosperity
02:52in Asia and the world.
02:58As we chart the path forward together, let us remember that the true strength of our
03:04partnership lies not only in the agreements we sign or the projects that we jointly undertake,
03:12but in the shared vision and mutual respect that bind our nation.
03:18Bol shoye, spasiba.
03:27As I have said to President Putin last night, there are vast opportunities.
03:33Russia has seen its resilience, its capacity to expand in all sectors.
03:39Now, being in BRICS would allow us to benefit and share.
03:46Malaysia now is the hub for semiconductors in the region.
03:53There are some fields that we can share, but there are a lot of other areas we can.
03:57But I think the global south network of BRICS would give us an opportunity to leverage,
04:05to ensure that there is a fair trade practices, that the international financial infrastructure
04:14is not monopolized by one country or one region.
04:17And then essentially it will be beneficial not only to Malaysia, but I think to the global
04:23south and naturally to the whole world.