Brazil, which holds the BRICS presidency until the end of 2025, has expressed full support for Malaysia's accession.
In a volatile and uncertain global economic environment, many countries are showing increased interest in the BRICS group. The original members — Brazil, Russia, India, China, and South Africa — have now expanded: in 2024, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates joined, while Indonesia was added in 2025.
In January 2025, nine countries — Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Thailand, Uganda, Uzbekistan, and Nigeria — were announced as BRICS partner countries. Despite the threats from US President Donald Trump to impose sanctions on BRICS members, several states remain interested in joining. Trump had stated in October 2025: "Everybody is leaving BRICS. It was an attack on the dollar, and I said: 'If you want to play that game, I will put tariffs on all your products imported into the US.'"
Trade and monetary cooperation
Trade between BRICS countries amounted to approximately $650 billion in 2024, according to Modern Diplomacy. Following US sanctions against Russia due to the war with Ukraine, the use of local currencies in trade transactions has increased.
The group is working to create the BRICS Pay system, a cross-border payment mechanism that would facilitate trade in local currencies and reduce dependence on the US dollar. Although some analysts consider that it could be an alternative to the Western-centric SWIFT, this is considered unlikely due to technical and geopolitical limitations.
Malaysia and the BRICS
Malaysia, one of the BRICS partner countries, has been trying in recent years to maintain a delicate balance between China and the United States. Following Trump's trade tariffs, the country adjusted its foreign policy, pursuing closer economic ties with China, while simultaneously attracting investments from Western companies in the semiconductor sector.
In 2024, 30% of Malaysia's total trade was conducted with BRICS countries. The country submitted an application for full membership in the same year and, as of January 2025, is officially a "partner country."
Brazil, which holds the BRICS presidency until the end of 2025, has expressed full support for Malaysia's accession. President Luiz Inácio Lula da Silva stated: "Malaysia will have Brazil's support to become a full member of BRICS." Similarly, Russian Deputy Prime Minister Alexey Overchuk noted: "BRICS countries exchange views on global issues and strategic approaches. In this regard, Malaysia meets the criteria."
A cautious stance from Malaysia
Foreign Minister Mohamad Hasan recently stressed that Malaysia will move cautiously regarding its full membership, so as not to deviate from its multi-dimensional foreign policy, which avoids joining "camps."
The main reason for maintaining the "partner" status is the fear of provoking displeasure in Washington. The US Ambassador to Malaysia, Edgard D. Kagan, stated that the United States understands Malaysia's interest, pointing out that relations with BRICS should not be considered "zero-sum." He warned, however, that: "The President has made it clear what the 'red lines' are and what the consequences will be if they are crossed."
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