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Prime Minister Datuk Seri Anwar Ibrahim has urged Malaysian companies to actively explore new markets and trading opportunities through platforms like BRICS, highlighting the vast potential for growth beyond traditional trade partners such as the US and China.

Speaking at a dinner hosted by Yinson Production in Rio de Janeiro during the 17th BRICS Leaders’ Summit, Anwar pointed to the success of Malaysian firms like Petronas and Yinson in Brazil as clear examples of the country’s ability to thrive in emerging economies.

“Malaysian companies must not rely solely on traditional markets. Platforms like BRICS offer enormous opportunities,” Anwar said, noting that Brazil, Latin America’s largest economy, is fast becoming a strategic destination for Malaysian investment.

Anwar shared that Brazilian President Luiz Inácio Lula da Silva was “surprised” to learn about Malaysia’s business footprint in Brazil.

“I mentioned Yinson and Petronas to him, and their role in Brazil. He was surprised and asked for more details,” Anwar recounted.

Yinson, a global leader in floating production, storage and offloading (FPSO) vessels, has launched three projects in Brazil since 2023: FPSO Anna Nery, FPSO Maria Quiteria and FPSO Atlanta. Petronas, meanwhile, has expanded from oil production into the retail fuel sector in Brazil.

Anwar, who also serves as finance minister, said Malaysia’s largest markets and sources of foreign investment remain the US and China, but stressed that future growth hinges on diversification. He tasked Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz with facilitating and supporting Malaysian firms operating in Brazil and other BRICS economies.

“Brazil has not only become a key economic power but also a strong voice for the Global South,” Anwar said, adding that Malaysia must align itself with such emerging economies to secure long-term economic resilience.

Malaysia officially became a BRICS partner country on Jan 1, 2025, and participated in the summit in its role as ASEAN Chair. Bilateral trade between Malaysia and Brazil rose 14.6% in 2024, reaching RM20.35 billion, up from RM17.43 billion in 2023.

Anwar also revealed that President Lula has accepted an invitation to visit Malaysia during the ASEAN Summit in October, where both leaders will co-host a special business conference aimed at deepening economic cooperation.

Anwar stressed that BRICS is not just a diplomatic platform, it is a gateway to next-generation growth for Malaysian enterprise.

Source: https://www.businesstoday.com.my/2025/07/06/anwar-urges-malaysian-firms-to-tap-brics-opportunities-for-growth-diversification/