At the 18th BRICS summit in New Delhi, PM Anwar Ibrahim urged economic reforms for developing nations and confirmed initial talks to acquire India’s BrahMos missile system.
NEW DELHI: High debt burdens, unfair trade practices and global economic instability are choking developing nations, said Prime Minister Datuk Seri Anwar Ibrahim, calling on emerging economies to take concrete steps to secure their financial future.
Addressing global leaders at the 18th BRICS summit, Anwar said the rapid pace of technological advancement was widening the contradiction between global progress and the economic realities confronting poor nations, where mounting interest payments are consuming funds needed for essential public services.
“We meet at a moment of great contradiction. Technology has rarely advanced faster.
“Yet for much of the developing world, economic uplift remains remote. No nation should be forced to choose between honouring its debts and honouring its obligations to its people.”
Anwar called for financing mechanisms that are “fit for purpose” to tackle debt distress while urging greater use of local currency settlements and Islamic capital markets to reduce over-reliance on traditional Western financial frameworks.
He also called on BRICS members and partners to share technical expertise, training and development experience in critical emerging sectors, including semiconductors and artificial intelligence (AI).
On the green transition, Anwar said countries should be allowed to move at a pace suited to their respective stages of development, including through technologies such as carbon capture, utilisation and storage.
Anwar described BRICS as a critical engine for greater geoeconomic independence, with its vast integrated market providing member states with opportunities to diversify trade and build shared prosperity.
He said Malaysia’s participation as a partner country was rooted in strategic autonomy, allowing it to chart its own path and stand by its decisions on the world stage.
Linking economic stability directly to global security, Anwar warned that the conflict in the Middle East is fuelling inflation, pushing up energy prices and threatening vital sea lanes far beyond the immediate conflict zone.
“Malaysia’s position is clear. Sovereignty must be respected, civilians protected and the arteries of the global economy kept out of the battlefield.”
Meanwhile, Anwar said Malaysia is looking into acquiring India’s advanced BrahMos air-to-surface missile system to strengthen its air defence capabilities.
In an earlier interview with Indian news channel NDTV, Anwar confirmed that talks were under way with Indian officials, although no final deal had been signed.
He said he had raised the potential purchase directly during bilateral discussions with Indian Prime Minister Narendra Modi.
Anwar said the final decision rests with the Royal Malaysian Air Force, which would assess whether the system meets its technical and strategic requirements.
The BrahMos is a high-speed cruise missile developed jointly by India and Russia. It can be launched from aircraft to strike targets on land or at sea and is known for its high speed and accuracy.
