SHAH ALAM, Oct 29 — Malaysia’s trade with BRICS members has increased by 20 per cent, or RM481.02 billion, in the first half of the year, said Deputy Foreign Minister Datuk Lukanisman Awang Sauni.
He told the Dewan Rakyat today that exports this year are up 17.4 per cent to RM181.4 billion and imports grew 21.7 per cent to RM299.62 billion compared with H1 last year, according to a New Straits Times report.
“China, Indonesia and India remain Malaysia's largest trading partners in BRICS, accounting for about 90 per cent of total trade,” he said in reply to Datuk Seri Ronald Kiandee’s (PN-Beluran) question about the objectives of Malaysia’s BRICS partner status and its benefits compared with existing bilateral cooperations.
Lukanisman added that total trade between Malaysia and BRICS members reached RM846.5 billion last year, up 3.4 per cent from RM818.04 billion in 2024, representing 27.7 per cent of Malaysia’s overall global trade.
On Malaysia’s participation in BRICS, Lukanisman said it is to diversify economic partnerships, reduce reliance on traditional markets, and strengthen developing countries’ presence in international economic and financial governance.
“Cooperation through BRICS provides significant added value and complements existing bilateral cooperation mechanisms and free-trade agreements (FTAs),” he added.
He said the grouping offers opportunities to expand exports to markets in which Malaysia has no FTAs while attracting investment and technology transfers in strategic sectors such as semiconductors, artificial intelligence and digital infrastructure.
Malaysia is also prioritising exports of electrical goods, semiconductors and palm oil, alongside cooperation in food and energy security and the expansion of services such as tourism, education, healthcare and Islamic finance, he explained.
Lukanisman said Malaysia remains neutral and will keep addressing South China Sea issues through bilateral mechanisms in addressing implications to Malaysia’s foreign policy and ASEAN centrality.
