LETTER | Brics' vast potential entices Malaysia

LETTER | Malaysia is eager to join Brics, a grouping that will bring many commercial and economic benefits.

The grouping is expected to get very much bigger and more powerful as many countries are keen to reap the socio-economic benefits of membership.

Malaysia is a major trading nation and membership in Brics will bring more benefits and investments. Trade and commercial opportunities are getting stagnant and Malaysia needs new markets for its exports.

It is for this reason that Prime Minister Anwar Ibrahim decided on this new initiative. The original group consisting of Brazil, Russia, India, China and South Africa represent more than a third of the world’s population and one can imagine the socio-economic prospects as well as the political clout of this collective combination.

The addition of more countries could increase its numerical strength and power. The main attraction in this group is China whose economic progress has astounded the world and to a lesser extent India.

Together with China, India, Brazil and Russia which have large populations the economic and commercial prospects are greatly enticing. This is the reason why more countries want to become members.

More egalitarian

It was the Brics economic power that helped Russia to a large extent ward off the punitive sanctions against it by the West. The Brics has been a lifeline for Russia in its war with Ukraine which is very much supported by Nato and the West.

The grouping is also a more egalitarian one as compared to some of the more exploitative trade pacts, especially against small developing countries.

The formation of Brics came as an alternative to the Western-led trade pacts which gave much power and protection to their multinationals, their patents and legal exclusion.

The US did not join either the Trans-Pacific Partnership or its successor the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. This has provided a good opportunity for another economic and trade pact to take shape.

Unlike regional pacts which excluded outsiders, Brics encompasses the whole world and members can envision the vast benefits, unlike smaller geo-political groupings with limited opportunities and unfair terms.

About 40 countries are willing to join the Brics grouping and if this is realised it could make Brics the most powerful in the world and act as a counterweight to the US, Nato and the EU.

Brics is also building on the unfulfilled development and political aspirations and agenda of the Non-Aligned Movement and the Global South, both of which have now been overshadowed by Brics.

Resolve issues

With its growing membership, Brics should address various issues that have kept the developing countries very much backwards enabling the West to dominate them through unfair policies.

The Brics leadership should use its power to resolve latent contentious issues between its members to ensure that it is united.

A disunited grouping like the South Asian Association for Regional Cooperation had been able to do very little due to the enmity and indifference of India and Pakistan, and this has rendered the group ineffective.

In this regard, President Vladimir Putin needs to use his influence and good office to bring about a peaceful settlement of the border issues between China and India. Much will depend on China and India who are the main growth engines in Brics being friendly to each other.

Border clashes or worse still a war could wreck the unity and clout of Brics and render the grouping powerless. In fact, any clashes between China and India should be avoided for the well-being of Brics. The unresolved border issues are motivating India to join the US-led Quad.

This should be avoided as it brings disunity and enmity within the grouping. The enmity between the two Asian giants, who had been civilisational partners, could pre-empt the much touted Asian Century where China, India, Siberian Russia, Asean and other regions will be at the forefront of its realisation in the next few decades of the 21st century.

Asian Century

The next Brics summit in Kazan, Russia in October needs to tackle the border issue between China and India with Putin as the intermediary.

One of the primary achievements of Brics will be the realisation of the Asian Century.

With the conclusion of the Russia-Ukraine conflict in the near future, Brics could get a boost in membership as some countries are hesitant to join in an ongoing conflict.

At a time when both American and European powers have begun to decline and when international organisations like the UN, the G7 or G20 are very much polarised by divisions and disunity and not able to contribute to global peace or goodwill, Brics, founded on egalitarian principles could with increased membership, play a more active role in international affairs.

The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini.