KUALA LUMPUR: ASEAN is reforming its trade practices by increasing the use of local currencies among member nations to build a more stable financial system free from unilateral dominance, Prime Minister Datuk Seri Anwar Ibrahim announced.
Speaking at the BRICS Business Forum in Rio de Janeiro, Anwar emphasised that while full de-dollarisation remains distant, ASEAN nations—including Malaysia, Indonesia, Thailand, and China—have begun adopting local currencies for trade. “Even if it starts with just 10 or 20 per cent of trade volume, it makes a difference. We cannot keep complaining without taking action,“ he said.
The forum, themed ‘Bridging Continents, Building Future: A Shared Agenda for Sustainable Progress,‘ also saw attendance from Brazilian President Luiz Inácio Lula da Silva, Vice President Geraldo Alckmin, and Ricardo Alban, President of the Brazilian Confederation of National Industry. – Bernama
