KUALA LUMPUR: The positive experience of Southeast Asian countries under the Asean regional bloc over the past five decades can serve as an example of how economic blocs like BRICS can work, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
The International Trade and Industry Minister said that some may argue that BRICS lacked the cohesion necessary for long-term stability without a unifying force.
“But, Asean’s 50-year track record is a real-time case study of how political and economic diversity can coexist while fostering peace and prosperity.
“So, having more Asean countries join BRICS could help scale Asean’s positive experience beyond Southeast Asia,” said Zafrul during his closing remarks at the Asean Economic Opinion Leaders Conference: Outlook for 2025 on Thursday (Jan 9).
Zafrul also said that several Asean member states were warming up to BRICS membership or partnership.
“While it remains to be seen how BRICS will serve as a counterweight to Western hegemony, the fact that several Asean member states are warming up to BRICS membership or partnership is a development that all member states need to account for.
“Apart from Malaysia, Indonesia, Vietnam and Thailand, how other Asean countries weigh the membership/partnership benefits of BRICS will likely have a bearing on Asean’s future economic growth and resiliency,” said Zafrul.
Originally comprising Brazil, Russia, India, China, and South Africa, the BRICS group recognised 13 nations, including Malaysia, as partner countries in October.
Presently, four Asean countries - Indonesia, Malaysia, Thailand and Vietnam - are part of BRICS.
