Malaysia wants to join the BRICS grouping of emerging economies, the Southeast Asian country’s leader has said.

In an interview with Chinese media outlet Guancha, Malaysian Prime Minister Anwar Ibrahim said his government would soon begin the process of joining the bloc, once it had received feedback from South Africa – the current BRICS chair – to its expression of interest.

“We have made our policy clear and we have made our decision. We will start the formal process soon. As far as the Global South is concerned, we are fully supportive,” Anwar said, according to the Shanghai-based outlet.

Anwar also backed comments by Brazilian President Luiz Inacio Lula da Silva criticising the dominance of the US dollar in international trade.

“Last year Malaysia had the highest investment ever, but the currency was still attacked. Well, it has eased in the past few weeks. But it doesn’t make sense, it goes against basic economic principles,” Anwar was quoted as saying.

“Why? A currency that is completely outside the trade system of the two countries and is irrelevant in terms of economic activities in the country, has become dominant, purely because it is used as an international currency.”

Founded in 2006, the grouping was originally known as BRIC, and comprised Brazil, Russia, India and China. South Africa joined in 2010, and the grouping came to be known as BRICS.

In January 2024, the bloc expanded its membership to include Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE).

In his interview, Anwar said China’s rise had “brought us a glimmer of hope that there are checks and balances in the world” and praised Chinese President Xi Jinping for recognising the importance of rejuvenating Asian values.

“When I first met President Xi Jinping, I was attracted to him because President Xi is one of the few outstanding leaders who talks about civilisation. In a sense, he is unique,” he was quoted as saying.

Al Jazeera