Modern Australian
Men's Weekly

.

BRICS Expansion: What it Means for Malaysia’s Economic Future, According to Global Broker Octa

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 17 October 2024 - BRICS represents a formidable economic bloc that significantly influences global trade and geopolitics. In January, the alliance of Brazil, Russia, India, China, and South Africa formally welcomed Egypt, Ethiopia, Iran, and the United Arab Emirates into its fold.

Recent discussions have focused on expanding BRICS to include nations like Malaysia and Indonesia, presenting these countries with new economic opportunities and potential benefits. Octa, a broker with globally recognised licences, examines how BRICS expansion could transform the economic landscape for these Southeast Asian powerhouses, potentially enhancing their trade partnerships, technological collaborations, and economic resilience.

Octa

Malaysia’s BRICS Prospects: Economic Implications
Malaysia, strategically positioned as a key player in Southeast Asia, has shown interest in the BRICS expansion. The country’s GDP growth, which stood at 5.9% in Q2 2024, reflects its economic strength and potential for further development. By joining BRICS, Malaysia could significantly enhance its trade volume, particularly in high-growth sectors like technology and renewable energy. The BRICS bloc, which already commands nearly 30% of global GDP, offers an expanded market access that could further boost Malaysia’s export industries, particularly electronics and semiconductors.

Malaysia’s role as a semiconductor hub could become even more influential through BRICS membership. As the global semiconductor market is expected to reach $803 billion by 2030, Malaysia’s collaboration with BRICS countries could help secure its place in the global supply chain. Additionally, partnerships with BRICS members like China and India could lead to joint ventures in technological development, further integrating Malaysia into the global tech landscape.

Indonesia’s Potential BRICS Membership and Economic Growth
Indonesia, Southeast Asia’s largest economy, has shown a proactive approach towards BRICS membership. With a GDP growth rate of 5.05% in Q2 2024 and a stable inflation rate of 1.8% in September 2024, the country is positioning itself as a crucial player in the region. By joining BRICS, Indonesia could access expanded trade networks, attracting investments in key industries like manufacturing, energy, and agriculture.

BRICS membership could be especially beneficial for Indonesia’s manufacturing sector, which accounted for 20% of the country’s GDP in 2023. China’s investments in Indonesia’s infrastructure projects, amounting to over $40 billion in the last five years, highlight the potential for increased cooperation. If Indonesia joins BRICS, these collaborations could intensify, leading to further economic growth and development.

Kar Yong Ang, a financial market analyst at Octa Broker, explains, ‘For Indonesia, BRICS offers both an opportunity for economic growth and a strategic platform for expanding its influence in global trade. With stronger ties to BRICS countries, Indonesia can accelerate its development goals, particularly in infrastructure and energy sectors, thereby enhancing its economic position.’

Regional Cooperation and Growth Opportunities
Malaysia and Indonesia’s potential involvement in BRICS could significantly impact regional cooperation within Southeast Asia. Their membership could encourage the alignment of trade agreements and economic policies within ASEAN and BRICS, fostering a collaborative approach to economic development. By integrating BRICS initiatives with ASEAN’s regional goals, Malaysia and Indonesia could enhance trade ties and investment flows, particularly in technology, manufacturing, and green energy sectors.

For instance, Indonesia’s growing renewable energy sector, which aims to generate 23% of the nation’s electricity from renewables by 2025, could benefit from BRICS partnerships. Given its advancements in digital technology and green energy, Malaysia could also attract investment from BRICS nations interested in Southeast Asia’s tech and energy markets.

A New Economic Chapter for Southeast Asia
Malaysia and Indonesia’s potential BRICS membership represents a significant shift in Southeast Asia’s economic trajectory. For these nations, joining BRICS means expanding trade networks, securing technological partnerships, and accessing new investment opportunities. This evolution not only promises growth for Malaysia and Indonesia but also enhances the region’s role in global trade.

As BRICS expansion unfolds, staying informed on these developments is crucial for traders and investors seeking opportunities in these markets. With Octa Broker’s expertise in tracking global economic trends, traders can navigate these changes effectively, making informed decisions to capitalise on emerging opportunities in Southeast Asia’s evolving economic landscape.
Hashtag: #Octa

The issuer is solely responsible for the content of this announcement.

Octa

is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

In the APAC region, Octa received the ‘Best Trading Platform Malaysia 2024’ and the ‘Most Reliable Broker Asia 2023’ awards from Brands and Business Magazine and International Global Forex Awards, respectively.

Powering Shepparton’s Businesses: Expert Commercial Electrical Services You Can Count On

When it comes to running a successful business, having reliable, compliant, and efficient electrical systems is non-negotiable. From small retail ou...

Maximise Efficiency: Cleaner Solar Panels for Optimal Performance

Solar panels are a smart investment in energy efficiency, sustainability, and long-term savings—especially here in Cairns, where the tropical sun ...

7 Common Air Conditioner Issues in Melbourne – And How to Fix Them

Image by freepik Living in Melbourne, we all know how unpredictable the weather can be. One moment it’s cold and windy, the next it’s a scorchin...

Powering Palm QLD with Reliable Electrical Solutions

Image by pvproductions on Freepik When it comes to finding a trustworthy electrician Palm QLD locals can count on, the team at East Coast Sparkies s...

The Smart Way to Grow Online: SEO Management Sydney Businesses Can Rely On

If you’re a Sydney-based business owner, you already know the digital space is crowded. But with the right strategy, you don’t need to shout the...

What Your Car Says About You: The Personality Behind the Vehicle

You can tell a lot about someone by the car they drive—or at least, that’s what people think. True Blue Mobile Mechanics reckon the car says a l...

The Confidence Curve: Why Boudoir Photography Is the Empowerment Trend You Didn’t Know You Needed

Boudoir photography has been quietly taking over social feeds, Pinterest boards, and personal milestones—and for good reason. It’s not just abou...

Understanding Level 2 Electricians: Why Sydney Residents Need Licenced Experts for Complex Electrical Work

When it comes to electrical work around the home or business, not all electricians are created equal. In Sydney, particularly when you're dealing wi...

Retirement Anchored in Model Boat Building for Waterford’s Doug Unsold

WATERFORD — When Doug Unsold sees his ship come in, it’s usually one he’s crafted with his own hands. The 67-year-old retiree from Waterford ...

The Science Behind Alarm Clocks and Your Circadian Rhythm

Waking up on time isn’t just about setting an alarm—it’s about working with your body, not against it. At the heart of every restful night and...

How to Use Plants to Create a Calming Atmosphere in Your Home

In today’s fast-paced world, cultivating a calm, soothing environment at home has never been more important. Whether you live in a busy urban apar...

How Maths Tutoring Can Help Students Master Maths

Mathematics can be a daunting subject for many students, often causing stress and frustration. However, maths tutoring has proven to be an effective...

Refurbished iPads Are Better Than New Ones (Here's Why)

Image by rawpixel.com on Freepik Apple's refurbished iPad program has quietly become one of the best deals in tech. While everyone obsesses over the ...

Your Guide to Finding the Right GP: What Perth City Doctors Offer Today

Choosing a General Practitioner (GP) is one of the most important health decisions you’ll make. Luckily, Perth’s vibrant CBD now hosts a new ge...

Why Every Mining Operation Needs a Robust Safety Management System

Mining is one of the backbones of the Australian economy, particularly in Western Australia. Back in 2019-20, mining contributed 10.4% of Australiaâ...

Australian Classic Literature Enjoys Resurgence

Welcome back to the good old days of storytelling! As the modern world becomes increasingly more demanding, returning to childhood favourites offers...

How to Choose the Right Lawyers in Sydney for Your Situation

When faced with a legal issue, selecting the right legal representation can make all the difference. Whether you're dealing with a personal injury, ...

Building a Governance Model for Headless Content Management at Scale

Image by pch.vector on Freepik There's never been a better time to implement a headless content management system (CMS) to gain the flexibility and ...