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Continue engaging BRICS countries, say business groups
Free Malaysia Today
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2 days ago
Samenta says Malaysia should diversify its trading markets due to US policy volatility.
Read More:
https://www.freemalaysiatoday.com/category/nation/2025/07/16/continue-engaging-brics-countries-say-business-groups
Laporan Lanjut:
https://www.freemalaysiatoday.com/category/bahasa/tempatan/2025/07/16/generasi-muda-sokong-sekat-pemilik-rumah-rasis-dedah-tinjauan
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#FMTNews #BRICS #Samenta #USTariff
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Transcript
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00:00
Several business groups have backed Pucca Jaya's decision to strengthen ties with BRICS nations,
00:05
despite U.S. President Donald Trump's threat to impose an additional 10% tariff on countries
00:11
aligning with the bloc's policies.
00:13
The Small and Medium Enterprises Association of Malaysia said trade decisions should not
00:18
be swayed by external pressure or intimidation.
00:21
Sementa President William Ng said Malaysia should continue engaging with BRICS,
00:26
particularly on trade equity, technology transfer, and development financing.
00:31
He said should additional tariffs be imposed, SMEs must pivot to other BRICS economies like China, India, and South Africa.
00:39
Similarly, economist Jaya Menon of IC's Yusuf Ishak Institute said Malaysia must start weaning itself off its dependence on the U.S.,
00:47
which is increasingly presenting itself as an aggressive, unreliable, and erratic trading partner.
00:52
He acknowledged that while there will be short-term adjustment costs,
00:57
the shift would be beneficial in the long run.
01:00
Natasha Boost, FMT.
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1:03
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