Ankara: Malaysia Tuesday reaffirmed its commitment to strengthening cooperation in economics, trade, and investment with BRICS countries, especially with the great potential of artificial intelligence (AI) which needs to be harnessed for inclusive development. This came after US President Donald Trump warned late Sunday that any country that aligns itself "with the anti-American policies' of the BRICS economic bloc will face an additional 10% tariff.

According to Anadolu Agency, Investment, Trade and Industry Minister Zafrul Abdul Aziz highlighted the importance of leveraging the digital economy, which is expected to reach US$2 trillion by 2030. He emphasized that Malaysia sees this as a golden opportunity that cannot be wasted. Zafrul assured that Kuala Lumpur would continue to facilitate and support local companies in exploring new markets, as reported by the state-run Bernama news agency.

Zafrul reiterated Malaysia's commitment to strengthening a rules-based and inclusive trading system. He expressed confidence in building a more just and progressive global economic future. Zafrul was part of the delegation led by Prime Minister Anwar Ibrahim to the 17th BRICS Leaders' Summit in Brazil.

BRICS members have been discussing shifting from the dollar in recent years, with discussions gaining momentum after the US imposed sanctions on Russia in 2022 following its 'special military operation' in Ukraine. The alliance, initially formed in 2009 by Brazil, Russia, India, and China, expanded in 2010 with the inclusion of South Africa. Recently, Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, Indonesia, and Iran joined, bringing the group to 11 members, along with 10 strategic partner countries.

The grouping aims to create alternative financial mechanisms, reduce dollar dependency, and increase Global South representation in international institutions, thereby challenging Western-led governance structures.