Malaysia Strengthens Travel Ties as BRICS Cooperation Promotes Local Currency Transactions
Malaysia is preparing to strengthen financial cooperation with BRICS countries as Prime Minister Anwar Ibrahim highlights the importance of local currency transactions in international trade and investment. The initiative carries wider implications for China, Indonesia, Thailand and other developing economies seeking to improve financial resilience, reduce foreign exchange exposure and facilitate cross-border economic activities. The approach reflects growing interest in alternative settlement arrangements that can make international commerce more efficient.
Speaking in Kuala Lumpur on Wednesday, November 4, 2026, Anwar said Malaysia would continue strengthening financial engagement with BRICS partners. He emphasised that greater use of local currencies could reduce transaction costs, limit foreign exchange risks and help developing economies withstand external financial shocks.
