MOSCOW, 21 Oct - In a significant development for Malaysia's economic landscape, Alexei Maslov, Director of the Institute of Asian and African Countries at Moscow State University, has highlighted the implications of Malaysia's intention to join BRICS. As one of the most advanced countries in ASEAN, Malaysia's potential membership could greatly enhance its national markets and international standing.

Maslov notes that Malaysia's status as a leading supplier of food and crude oil, along with its established ties to Chinese markets and neighboring nations, positions it favorably for expanded engagement within BRICS. This membership could unlock access to vast markets, particularly in India and China, facilitating collaborative projects that are knowledge-intensive and financially lucrative.

In an exclusive interview with Viory news agency, he also pointed to Malaysia's commitment to countering global issues such as terrorism and separatism, aligning with BRICS’ objectives. The nation stands to gain significantly from participation in educational programs, technology transfers, and investment cooperation, all areas where BRICS actively engages.

With a burgeoning IT sector and advancements in bio-pharma, Malaysia is poised to contribute valuable expertise to BRICS initiatives. Maslov emphasizes the country's interests in banking collaboration, particularly in the realm of Islamic finance, which has a growing presence in Southeast Asia. This could lead to enhanced banking cooperation, joint free trade zones, and integration into the electronic trade platforms of BRICS members.

However, challenges remain, particularly logistical ones stemming from the geographical distance between Russia and Malaysia. Maslov suggests that mutual investment, particularly in Malaysia’s energy sector, railways, and high technology, offers a more viable path for cooperation. The presence of Russian companies in Malaysia’s markets is already on the rise, focusing on cosmetics and food sectors, and discussions around nuclear power and cybersecurity are underway.

As Malaysia seeks to solidify its role within BRICS, the potential for increased dialogue and collaboration with Russia and other member nations may reshape the economic landscape in Southeast Asia, promising mutual benefits and a more interconnected future. -VIORY