Malaysia and Thailand also seek BRICS membership to get rid of the dollar

The governments of Malaysia and Thailand are seeking membership in the BRICS group, aiming to expand their commercial opportunities and strengthen their positions in an increasingly multipolar global scenario.

Malaysian Prime Minister Anwar Ibrahim announced that the country will soon begin the formal procedure to join the bloc. He revealed that Malaysia is awaiting feedback and final results from South Africa, as reported by news website Guancha.

At the same time, during the BRICS Foreign Ministers’ Summit in Russia, Thai Foreign Minister Maris Sangiampongsa expressed:

“The sooner the inclusion of potential new BRICS partners, the stronger the BRICS voice will be on the world stage.” Thailand approved the application to join the group in May this year.

Maris also mentioned the expectation of announcing Thailand’s full membership during the next BRICS Summit, which will take place in October in Russia.

Analysts and academics assess that joining the BRICS could be strategic for both countries. Julia Roknifard of the University of Nottingham, Malaysia commented that this is a maneuver within Malaysia’s international relations diversification strategy, while Thomas Daniel of the Malaysian Institute of Strategic and International Studies sees it as a response to the Prime Minister’s policies Anwar on multipolarity and diversified economic development.

Wan Suhaimie Wan Mohd Saidie, from Malaysia’s Kenanga Investment Bank, highlighted that BRICS membership could attract more investment from China and India to Malaysia, and the need for flexible economic policies to adapt to the requirements of joining the bloc.

Participation in BRICS is also seen as a way to strengthen Thailand’s influence among developing nations and support its role in international groups such as the Asia-Pacific Economic Cooperation and the Group of 77, according to Narongsak Putthapornmongkol, president of the Chamber of Thai-Chinese Trade.

The expansion of BRICS, which has already added new members such as Egypt, Ethiopia, Iran and the United Arab Emirates at its annual summit in August, reflects growing interest from other ASEAN nations such as Indonesia and Vietnam in joining the bloc.

Experts believe that once approved as members, Malaysia and Thailand could bring mutual benefits to the BRICS, given their strategic location and regional economic ties.

With information from China Daily