Malaysia to benefit greatly if country joins BRICS: analysts

Malaysia's inclusion in the BRICS will bring great benefits to the country with great opportunities to strengthen cooperation with its member countries, said the country's analysts when commenting on the country's bid to join the group.

The BRICS comprises Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, Saudi Arabia and the United Arab Emirates, with the latter five becoming its members in January this year.

Speaking at at the 9th Eastern Economic Forum held in early september, Malaysian Prime Minister Anwar Ibrahim said joining BRICS will boost Malaysia's trade relations and help prevent financial monopolies worldwide.

Russia, host of this year's BRICS summit, has invited Malaysia to attend the event, and Malaysia hopes this will be a steppingstone to the country's full membership.

Malaysia is already a member of key groups such as the Association of Southeast Asian Nations (ASEAN), the Organization of Islamic Cooperation and the Non-Aligned Movement, as well as major trade pacts including the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

The country has long pursued a balanced foreign policy, enjoying close economic and strategic ties with both the United States and China.

"We have done the cost-benefit calculation in terms of grand strategic returns to the country, where we see BRICS as a natural platform for us to not only elevate our voice, our influence at the global level in terms of consolidation of our position as a middle power and as a stabilizing power in the region," said Collins Chong, Vice Chancellor of the University of Malaya.

"I think BRICS plays a very important role in connecting Malaysia with the Global South and Malaysia has long been championing the Global South with our focus on the non-aligned movement," said Michael Yeoh, CEO of the KSI Strategic Institute for Asia Pacific.

Malaysia has plenty to gain from the BRICS economically too, as it is a major trading country and exporter of commodities. It also plays a critical role in the global electronics supply chain.

"I think we would be able to benefit from BRICS through the potential opportunities arising from increased trade and investments with Brazil, with South Africa, some of the countries that Malaysia previously didn't have much of an economic relationship with. Even an economic relationship with Russia has not been very much so. I think BRICS will enable Malaysia to tap into opportunities," said Yeon.

The 16th BRICS Summit is scheduled to take place in Kazan, Russia from Oct 22 to 24.

Malaysia to benefit greatly if country joins BRICS: analysts

A palm-sized electric vehicle (EV) charger and a customized new energy garbage truck are among the latest cutting-edge products hogging the limelight at the 136th Canton Fair, which concluded its first phase on Saturday in south China's Guangzhou City.

The portable EV charger, developed by U.S. industrial conglomerate Honeywell and applicable to most types of EVs, turned a lot of heads at the event, also known as the China Import and Export Fair.

It can be used even at high-altitude areas and be connected to cell phones.

The charger is now available for purchase on online shopping platforms in the run-up to China's annual "Double 11", or Singles' Day, shopping festival which falls on Nov. 11.

"This is our latest product, and it sells at only 599 yuan during the 'Double 11.' We have raised the portable charger's rate of power to 3.5 kilowatts, and it can fully charge a car in around 10 hours. We are quite surprised to see so many more guests this year, especially those from South America and Eastern Europe, who are interested in new energy chargers. We expect a significant increase of orders this year," said Zhang Shaozhi, an exhibitor at Honeywell's exhibition booth.

Meanwhile, Skyworth, known as an electric appliance producer, is exhibiting its new garbage truck at the new energy vehicle area.

The truck, with a load capacity of 3.2 tonnes, features a driving cab which can be assembled by drivers themselves.

Equipped with a lighter vehicle chassis and noise absorption devices, the truck caters to the needs of environmental protection in South and Central Asian countries.

"The chassis is very light, so it can carry 600 kilograms more than a vehicle of the same class," said an exhibitor at Skyworth's exhibition booth.

The import exhibition at the Phase 1 of the Canton Fair has attracted 213 participating enterprises from 28 countries and regions. So far, the Phase 1 has seen more than 200 new product launch events online and offline.

The 136th Canton Fair opened on Oct. 15 and will run through Nov. 4 in three phases, with the second phase to be held between Oct. 23 and 27, and the third between Oct. 31 to Nov. 4, respectively.

Palm-sized EV charger, customized garbage truck shine at Canton Fair