M’sia set to gain from revived RIC

THE expected return of the Russia-India-China (RIC) troika is seen as the anchor for the rising multipolar world order.

The camaraderie between Russian President Vladimir Putin, Indian Prime Minister Narendra Modi and Chinese President Xi Jinping during last week’s Shanghai Cooperation Summit (SCO) in Tianjin, China has led to much buzz about the RIC’s revival.

After five years of lying dormant, RIC is gaining revived notice as a potential counterbalance to Western dominance.

One could say that US president Donald Trump’s tariff trade war helped to rekindle the friendship among the countries, especially India and China.

The RIC format can be traced to 1996 when former Russian prime minister Yevgeny Primakov, who was then foreign minister, presented a plan to develop a strategic three-way axis between Russia, India and China.

This early doctrine of multi-polarity was proposed as an alternative to the US-imposed dominance of the post-Cold War era.

From the early 2000s to 2020, RIC hosted many meetings, bringing together foreign ministers and officials from sectors such as trade, energy and disaster management.

At the 2007 Delhi Security Summit, the foreign ministers of the three countries, China’s Li Zhaoxing, India’s Pranab Mukherjee and Russia’s Sergey Lavrov, discussed cross-border security and global governance reforms.

The Covid-19 pandemic disrupted all diplomatic meetings in 2020, but what really snuffed out the RIC was the India-China military clashes in eastern Ladakh, the most serious border conflict between the two nations in decades.

On June 15, 2020, 20 Indian soldiers died in the Galwan Valley, and an unknown number of Chinese soldiers were also killed in the brutal hand-to-hand fighting.

Moscow and Beijing are now actively pushing to revive the long-inactive RIC framework, and the response from New Delhi appears to be cautious optimism.

RIC is an economic powerhouse; the three giant nations account for nearly 25% of global GDP and are among the fastest-growing economies with India projected to be the fastest in 2025.

With over 4.6 million active military personnel, RIC’s combined forces surpass that of the North Atlantic Treaty Organi­sa­tion, offering significant geopolitical influence.

The countries control substantial reserves of oil, gas and rare earth minerals, ensuring energy and technological security.

They also control critical sea and trade routes, including the Indian Ocean, South China Sea, and the Northern Sea Route through the Arctic.

Malaysia is well placed to tap into the trilateral group and its broader BRICS framework.

The potential benefits span trade, investment, technology and geopolitical leverage, especially as the global order becomes more multipolar.

Economic diversification and trade expansion are among the immediate benefits.

Malaysia would have access to a massive market as China and India alone represent over 2.8 billion consumers while Russia offers energy, defence and agricultural trade opportunities.

Deepening ties with these countries would reduce our reliance on Western markets, making us less vulnerable to sanctions or economic cycles.

India and China are already among Malaysia’s largest buyers of palm oil, and Russia is a potential growth market.

Closer ties with them and BRICS countries could help offset EU restrictions on palm oil imports.

Joint agricultural ventures with Russia and India could secure Malaysia’s food imports while boosting its agro-tech exports.

The halal industry is another area where Malaysia could benefit through closer ties with RIC.

It can position itself as the halal certification leader for Muslim populations in Russia, China’s Xinjiang region, and India’s large Muslim minority.

Cooperation under the wider umbrella of BRICS can include green energy, AI and digital infrastructure projects. For example, Malaysia could co-develop solar, EV and smart city solutions with China and India.

China’s manufacturing ecosystem and India’s growing electronics assembly sector can help create demand for Malaysian semiconductors, sensors and precision parts.

Malaysia could also benefit from energy and resource security through cooperation with Russia, exploiting the potential for long-term oil, gas and even nuclear technology partnerships at competitive rates.

Joint infrastructure projects in energy transport and storage could also strengthen Malaysia’s role as a regional energy hub.

Leveraging China’s Belt and Road Initiative and Russia’s Eurasian Economic Union links could give Malaysian goods faster and cheaper access to Central Asia and Eastern Europe.

Peninsular Malaysia’s strategic location along the Malacca Strait could make it a trans-shipment hub for RIC trade flows into Asean.

Malaysia could act as the main gateway for RIC goods and investments into South-East Asia, enhancing its diplomatic and economic clout.

We could also gain through RIC’s alternative financial systems using local currencies such as yuan, rupee or ruble, reducing transaction costs.

BRICS member countries, which are now exploring payment systems that bypass the US dollar, could shield Malaysia from currency volatility.

Another area of potential is barter-style trade. Malaysia has historically traded palm oil for Russian defence equipment; similar deals could be revived for other sectors.

As for technology and industrial cooperation, Russian aerospace and defence technology, Chinese AI and green energy expertise, and Indian IT and pharmaceuticals could complement Malaysia’s industrial ambitions.

Rubber and the medical gloves industry could also gain by diversifying away from traditional Western buyers and expanding into Russia and India.

There would also be ample opportunities for joint R&D in areas like semiconductors, renewable energy and biotechnology.

In terms of geopolitical leverage, aligning with RIC/BRICS gives Malaysia a stronger voice and more bargaining power as a middle power, especially on trade rules, climate policy and development financing.

Being part of a bloc that challenges Western trade dominance gives the country more leverage in setting trade terms and standards.

But deepening engagement with RIC does not mean Malaysia cannot maintain strong ties with the US and EU. It means we can enhance our strategic autonomy.

If Malaysia plays its cards right, the RIC connection could help it hedge against global volatility, secure new growth engines, and position itself as a bridge between Asean and the Eurasian economic sphere.

Media consultant M. Veera Pandiyan likes this observation by James Baldwin: “Not everything that is faced can be changed, but nothing can be changed until it is faced.” The views expressed here are the writer’s own.