The minister said BRICS is developing smoothly for now and some countries such as the UAE and Egypt have also joined the organisation.

“Our neighbouring country, Thailand, a member of Asean, has also expressed interest and started the process of joining BRICS.

“We are waiting to start further discussions on BRICS as mentioned by Prime Minister Anwar Ibrahim,” he said after officiating at the launch of the Chery Malaysia assembly plant.

Anwar said yesterday that Malaysia would start formal procedures to join the BRICS economic bloc soon.

BRICS was established in 2009 as a cooperation platform for emerging economies including Brazil, Russia, India, and China, while South Africa joined the group in 2010.

BRICS now accounts for a quarter of the global economy, including a fifth of global trade, with around 40% of the world’s population.

Meanwhile, foreign minister Mohamad Hasan said Malaysia’s influence will be significantly enhanced as part of this economic bloc compared to operating independently.

“We are currently analysing, monitoring, and assessing our readiness to become a member of BRICS.

“Our participation in this economic bloc must benefit the country and not merely serve as a point of pride,” he said, adding that the ministry is examining and analysing its significance.

He stated that the ministry will only pursue initiatives that are in the national interest.

“By becoming a member of BRICS, we can ensure that Malaysia’s intentions are voiced (on various issues). This is our strategy for making our voice heard on the global stage,” he told reporters.