Benefits And Challenges Of Being A Partner Of Brics


 
From Jamil A Ghani
Malaysia’s recent entry as a partner country of BRICS, championed by Prime Minister Anwar Ibrahim, reflects his vision to boost economic growth and enhance the country’s geopolitical influence.
This collaboration offers both opportunities and challenges, necessitating a prudent approach.
Opportunities for economic diversification 
Participation alongside new members Egypt, Ethiopia, Iran, and the UAE presents avenues for trade within a bloc that includes founding members Brazil, Russia, India, China, and South Africa.
Collectively, BRICS represents over US$28.5 trillion (RM12.48 trillion) in GDP, or roughly 28% of the global economy, with nearly 45% of the world’s population.
This economic heft enhances our trade prospects and opens opportunities for meaningful engagement with emerging markets.
Anwar highlighted the strategic Straits of Malacca and Malaysia’s close ties with China, our largest trading partner, as key motivations for joining.
Advantages and limitations of partner status
While aligned with BRICS on economic and infrastructure initiatives, partner status does not provide the privileges of full membership, such as direct voting rights or influence over BRICS institutions like the New Development Bank and Contingent Reserve Arrangement.
Instead, Malaysia has opportunities for selective engagement in areas like non-dollar trade and discussions on global financial reform, without full institutional responsibilities.
This arrangement allows flexibility, enabling us to expand our economic networks while keeping the option of full membership open.
Implications for Asean 
Since independence, Malaysia has upheld a non-alignment policy to preserve its sovereignty and avoid major-power conflicts.
Building on these principles, Tunku Abdul Rahman led the nation into the Commonwealth and the United Nations, and co-founded Asean in 1967 to promote regional stability free from major power influence.
Abdul Razak Hussein continued this approach by establishing the Zone of Peace, Freedom and Neutrality in 1971, and normalising relations with China in 1974.
While potentially positioning Malaysia as a bridge between the two blocs, the BRICS partnership could influence Asean’s economic and foreign policy dynamics.
It may raise concerns within the region if other members perceive Malaysia as aligning too closely with BRICS powers like China.
To uphold Asean centrality, Putrajaya must manage its relationships carefully to avoid internal strife.
Anwar has assured that involvement in BRICS will not compromise Malaysia’s long-standing neutrality, a crucial factor in attracting foreign investments.
Geopolitical influence and strategic positioning
The BRICS partnership could enhance Malaysia’s geopolitical standing, offering a platform to advocate for developing countries and to support a more multipolar world order.
Anwar highlighted that joining BRICS aligns with our commitment to the Global South, challenging Western dominance in global affairs.
To maintain a balanced approach, he addressed concerns that engagement with the economic bloc could distance the country from its Western trade partners.
Anwar emphasised that the aim is to foster trade and cooperation rather than create divisions.
Citing India — a BRICS member with substantial Western economic ties — as an example, Anwar intends to maintain our relationships with the Asia-Pacific Economic Cooperation (Apec), Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to uphold a broad foreign policy framework.
Economic risks and governance challenges 
New trade and investment from BRICS countries offer growth potential, but over-reliance may introduce economic vulnerabilities.
Sanctions on Russia or a slowdown in China could have a negative impact on Malaysia’s economy as it deepens ties within the bloc.
To mitigate these risks, the government must continue to diversify its trade portfolio beyond BRICS to protect against external shocks.
Moreover, partnership involves navigating a variety of political systems and economic policies, which can complicate joint initiatives.
Malaysia needs to strategically balance its principles of transparency and rule of law with the bloc’s objectives, particularly in areas such as trade regulations, investment protection and technology transfer.
Domestic political considerations 
Entry into the economic bloc has drawn parliamentary scrutiny, with concerns that closer ties with countries like Russia and China could have an impact on our democratic values.
Anwar has reiterated his government’s commitment to democratic principles and the rule of law.
Maintaining transparency will be essential to address public concerns and ensure that the benefits of BRICS involvement are effectively communicated and widely understood.
Conclusion 
With neighbouring Indonesia also joining BRICS as a partner country and expressing interest in full membership, Malaysia’s timely involvement reflects strategic foresight in aligning with a bloc that advocates for a multipolar world order.
By adhering to non-alignment principles, broadening trade partnerships and selectively engaging within BRICS, Malaysia will enhance its regional influence and position itself within a non-Western coalition aimed at reforming global governance.
While this partnership does not grant direct decision-making power, it provides avenues for economic diversification and engagement with key emerging markets, reflecting a commitment to an inclusive global economy. - FMT
Jamil A Ghani is a PhD candidate at the S Rajaratnam School of International Studies, Nanyang Technological University, Singapore and an FMT reader.
The views expressed are those of the writer and do not necessarily reflect those of MMKtT.


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2024/11/benefits-and-challenges-of-being.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Trump Menang Apa Komen Pas Brics Ganti Dolar

Trump Menang Apa Komen Pas Brics Ganti Dolar

papar berkaitan - pada 9/11/2024 - jumlah : 209 hits
1 Trump menang apa komen PAS Ahmad Fadhli ShaariKUALA LUMPUR Parti Islam Se Malaysia menggesa Presiden Donald Trump agar tidak tunduk kepada tuntutan Israel di Timur Tengah kerana ia boleh memupuk kebencian terhadap Amerika Syarikat dalam k...
Zahir Academic Partner Solusi Terbaik Untuk Mengembangkan Kompetensi Akuntansi Di Era Digital

Zahir Academic Partner Solusi Terbaik Untuk Mengembangkan Kompetensi Akuntansi Di Era Digital

papar berkaitan - pada 5/11/2024 - jumlah : 77 hits
BloggerBorneo com Dalam era digital yang semakin berkembang pesat kemampuan mengelola keuangan dan akuntansi menjadi skill yang sangat dibutuhkan baik di dunia bisnis maupun di bidang pendidikan Untuk mendukung proses pembelajaran akuntansi...
We Re Willing To Partner With State Govts For Ltdl 2025 Says Hannah

We Re Willing To Partner With State Govts For Ltdl 2025 Says Hannah

papar berkaitan - pada 8/11/2024 - jumlah : 190 hits
Youth and sports minister Hannah Yeoh advised MPs seeking new sports facilities to first secure approval from their respective state governments before submitting their requests to her ministry KUALA LUMPUR The youth and sports ministry is ...
Brics Ekonomi Israel Diseret Merudum Pasti Al Hamdulillah

Brics Ekonomi Israel Diseret Merudum Pasti Al Hamdulillah

papar berkaitan - pada 8/11/2024 - jumlah : 753 hits
Dato Wira Dr Ku Abdul Rahman Ku Ismail1 Kerajaan diminta nyatakan langkah telah diambil KUALA LUMPUR Kerajaan diminta untuk menyatakan langkah langkah yang telah diambil bagi mengatasi persepsi seolah olah negara ini cenderung kepada negara...
Perang Ekonomi As China M Sia Pas Sertai Brics

Perang Ekonomi As China M Sia Pas Sertai Brics

papar berkaitan - pada 6/11/2024 - jumlah : 196 hits
Tentera Pembebasan Rakyat China berkumpul ketika latihan diadakan di kawasan pergunungan di wilayah Xinjiang pada 4 Januari 2021 AFP1 Sejauh mana Malaysia sedia sertai BRICS BRICS adalah satu kerjasama ekonomi antara beberapa negara yang di...
Lawatan Kerja Ke Sidang Heads Of State And Government In The Brics Outreach Brics Plus

Lawatan Kerja Ke Sidang Heads Of State And Government In The Brics Outreach Brics Plus

papar berkaitan - pada 22/10/2024 - jumlah : 79 hits
Saya akan mengadakan Lawatan Kerja ke Kazan Persekutuan Rusia pada 23 dan 24 Oktober 2024 untuk menghadiri Sidang Kemuncak BRICS Outreach BRICS Plus Lawatan ini yang turut disertai oleh pegawai kanan daripada Kementerian Ekonomi dan Kemente...
Anwar Thanks Chinese Premier For Brics Support

Anwar Thanks Chinese Premier For Brics Support

papar berkaitan - pada 6/11/2024 - jumlah : 207 hits
Prime Minister Anwar Ibrahim at the bilateral meeting with Chinese premier Li Qiang in Shanghai PETALING JAYA Prime Minister Anwar Ibrahim today thanked Chinese premier Li Qiang over China s backing of Malaysia s BRICS application During a ...
Video Captures Kid Being Hit By Train While Posing To Take Wefie

Video Captures Kid Being Hit By Train While Posing To Take Wefie

papar berkaitan - pada 29/10/2024 - jumlah : 79 hits
WHAT is the most impressive idea you can think of for a wefie with your friend For most people it can be a pleasant backdrop of any kind take for example a snow capped mountain or a field of flowers But for a bunch of adrenaline junkie kids...
Saka Bapak Kau

Natural Gas Fuel Not A Hazard

How Car Centric Planning Is Killing Malaysians

Beli Rumah Lebih Jimat Dengan Kempen Hartanah Bumiputera Matrix

Top Picks Best Trucks For Towing In 2025

Masjid Lapangan Terbang Sultan Abdul Aziz Shah

15 Playful Midcentury Kids Room Ideas For A Retro Vibe

Creating A Winning Pitch Deck


echo '';
Info Dan Sinopsis Drama Berepisod Dhia Kasyrani Slot Akasia TV3

Biodata Terkini Reshmonu Peserta Gegar Vaganza 2024 Musim 11 GV11 Penyanyi Lagu Hey Waley

Gegar Vaganza 2024 GV 11 Hadiah Tiket Peserta Juri Format Pemarkahan Dan Segala Info Tonton Live Di Astro Ria Dan Sooka

6 Janji Donald Trump Kalau Dia Naik Jadi Presiden Semula

Biodata Terkini Zehra Zambri Peserta Gegar Vaganza 2024 Musim 11 GV11 Penyanyi Lagu Semalakama


Apabila Musuh Mengerumuni Umat Islam Seperti Hidangan

Pesakit Diabetes Mengalami Masalah Mati Pucuk

Transformasi Bank Btpn Kini Berubah Nama Menjadi Smbc Indonesia

Pengalaman Mencicipi Hidangan Kuliner Khas Georgia Yang Menggugah Selera

Tattoos Portland Maine

Tattoos Raised And Itchy