KUALA LUMPUR: Brazilian President Luiz Inacio Lula da Silva’s support for Malaysia’s bid to join the BRICS grouping of Global South countries as a full member marks a significant diplomatic milestone and a potential turning point in the country’s global economic engagement.
Brazil’s support comes on the heels of China and South Africa’s ringing endorsement for Malaysia to join up as a full member from a partner country when these original BRICS founding members attended the 47th ASEAN Summit and Related Summits here recently.
Brazil and South Africa were personally invited by Prime Minister Datuk Seri Anwar Ibrahim, as Malaysia was the ASEAN 2025 host and chair.
BRICS stands for Brazil, Russia, India, China, and South Africa.
Speaking during his inaugural visit to Malaysia for the summit, Lula made it clear that Brazil stands firmly behind Malaysia’s aspiration to become a full member of the increasingly influential bloc.
For Malaysia, which is presently only a partner country of BRICS, such an endorsement signals both recognition and opportunity.
KSI Research and Advisory Services senior economic adviser Dr Anthony Dass said that deeper engagement with BRICS could open up wide-ranging economic benefits. “By engaging BRICS, Malaysia can tap into the growing demand from BRICS economies and attract potential investment flows from member countries,” he told Bernama.
He also highlighted the potential for expanded access to key markets and increased investment in sectors such as manufacturing and infrastructure via full membership.
Lula’s statement aligns with BRICS’ broader goal of fostering economic cooperation among emerging economies and diversifying global trade beyond Western-dominated systems.
Besides Lula, Russia Deputy Prime Minister Alexey Overchuk also voiced support, saying Malaysia meets the criteria to become a full member of the BRICS bloc.
Overchuck said BRICS member countries have been discussing Malaysia’s intention to join the group and believe that the nation’s policies and outlook are well aligned with its core values and objectives.
For Malaysia, a full membership could also mean greater influence in shaping global economic narratives, enhanced South-South cooperation, and new avenues for technology and capital exchange.
With a strategically located position in Southeast Asia’s maritime routes, an established manufacturing and export base, and connections to ASEAN, Malaysia makes a useful partner for BRICS members seeking Asian trade and investment linkages.
The country also brings neutrality and middle-power credentials.
Malaysia’s export sector, especially electronics components, palm oil, rubber, and other commodities, can supply BRICS markets and vice versa.
The prospects for diversifying markets are also there, Dass noted.
By engaging BRICS, Malaysia can reduce its reliance on a few traditional buyers and tap into the growing demand from BRICS economies.
Dass, who is also the Kuala Lumpur Economic Club advisory council research director, noted that BRICS members are increasingly undertaking “intra-BRICS” trade, using more of their own currencies rather than relying on the US dollar, making the bloc more independent.
However, they still can’t sidestep the US system entirely.
For example, he said in 2022, intra-BRICS trade reportedly exceeded US$600 billion, yet there is no full, formalised BRICS-wide trade or investment treaty or a common customs and investment regime that entirely removes US or Western financial system linkages.
“There is discussion of alternative payment systems, but the implementation is still weak, and the US (and allied systems) still hold dominant roles in global finance, payments, trade settlement, and reserve currencies,” he continued.
“So, while BRICS can reduce dependence over time, they cannot instantly flip over to a completely independent system.”
He reiterated that BRICS can and is making moves to trade and invest more within their own bloc and reduce reliance on the US and US-dominated systems, but they are far from fully independent.
On whether BRICS helps deepen integration among economies hit by US tariffs or facing US-centric trade pressures, Dass said BRICS provides an additional channel that could mitigate US tariffs and pressure risks.
“But it is not a silver bullet or quick fix,” he added.
The BRICS door is now more ajar for Malaysia to step in; however, Malaysia must navigate the path ahead carefully.
While a BRICS full membership could amplify the country’s global voice, it also requires strategic balancing of economic and diplomatic interests between the East and West.
Brazil’s endorsement might be just the push Malaysia needs, but the real test lies in how effectively the country leverages this support to advance its long-term economic and geopolitical objectives.
