PM Anwar Urges Malaysian Firms to Explore New Markets, Highlights BRICS Opportunities in Brazil

Rio De Janeiro, The Gulf Observer: Malaysian Prime Minister Datuk Seri Anwar Ibrahim has called on Malaysian companies to broaden their horizons and explore emerging global markets, emphasizing the importance of not relying solely on traditional trading partners. Speaking during a working visit to Brazil in conjunction with the 17th BRICS Leaders’ Summit, Anwar highlighted the vast economic potential of platforms like BRICS for Malaysian businesses.

“Malaysian companies must be prepared to venture into new markets. We must not remain confined to traditional trading routes,” Anwar stated, underscoring the significance of international expansion and innovation.

During a dinner hosted by Yinson Production, Anwar praised Malaysian companies such as Petronas and Yinson for their successful operations in Brazil. He shared that Brazilian President Luiz Inácio Lula da Silva, who had invited him to attend the Summit, was positively surprised to learn about the presence and performance of Malaysian firms in Brazil.

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

Also present at the dinner were Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz and Yinson Holdings Berhad Executive Chairman Lim Han Weng.

Yinson, an independent global leader in Floating, Production, Storage, and Offloading (FPSO) vessels, has undertaken three major projects in Brazil since 2023: FPSO Anna Nery, FPSO Maria Quiteria, and FPSO Atlanta. Petronas has also made strides in Brazil’s energy sector, including oil production and the opening of its own fuel station in 2024.

Anwar, who also serves as Finance Minister, acknowledged that while the United States and China remain Malaysia’s largest trade and investment partners, countries like Brazil offer untapped potential. He has directed Minister Zafrul to facilitate support for Malaysian businesses seeking opportunities in Brazil.

“Brazil is not only an emerging economic powerhouse but also a strong voice of the Global South,” said Anwar.

Earlier in the day, Anwar held a bilateral meeting with President Lula da Silva where they discussed a range of important bilateral and multilateral issues. He revealed that President Lula accepted an invitation to visit Malaysia during the upcoming ASEAN Summit in October 2025, where both leaders are expected to co-host a special business conference involving ministers and industry stakeholders from both nations.

Malaysia’s participation in the BRICS Summit comes in its capacity as ASEAN Chair for 2025 and as an official BRICS partner country, a status it attained on January 1, 2025.

Bilateral trade between Malaysia and Brazil has shown strong growth, increasing by 14.6% to RM20.35 billion (US$4.38 billion) in 2024, up from RM17.43 billion in 2023. Brazil continues to be one of Malaysia’s key trading partners in Latin America.