ASEAN will be an irrelevant sideshow with all the action in BRICS

A pivotal year for BRICS

Meanwhile, BRICS now an expanded 'informal' block of emerging economies, which have nine members Brazil, China, Russia, India, South Africa, the United Arab Emirates, Iran, Egypt, and Ethiopia, and a new category of 13 partner states Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Thailand, Turkey, Uganda, Uzbekistan, and Vietnam. These countries together represent 46 percent of the world's population and 47 percent of world GDP.

BRICS is building new institutions such as the New Development Bank, and the BRICS Contingent Reserve Arrangement (CRA), which will give member states alternatives to the traditional US Dollar and SWIFT transfer banking system, as means of trade.

Its not the BRICS configuration that is important on its own, but all the supplementary agreements, ranging from defence to technology, trade, and cultural/social exchanges going on that are significant.

One of the factors that may influence how BRICS progresses in 2025 will be the rolling out of the new US president Trump policy shifts during 2025. Many pundits believe the Trump administration will punish any country that is not acting in US best interests with tariffs and other trade barriers. Others believe this is Trum's ambit claim for negotiation.

What happens at BRICS summits are now globally important. Brazil is chairing BRICS in 2025. Although there are petty issues such as Brazil's rejection of Argentina's request for BRICS membership, such issues need to be resolved. There are still 8 more countries requesting membership.

Once again, commentators are divided upon their predictions about the impact BRICS on the world economy in the future. Some believe BRICS will quickly dump the US Dollar and even create a new trading currency, thus finishing the hegemony of the US currency. Others believe such predictions are highly ambitious for an informal organization just discussing issues and finding ways to assist each other. Others say, the ambitions of adopting a new currency are there, but haven't reached the surface yet.

To some degree, BRICS has reestablished the spirit of the non-aligned movement's Bandung Conference in Indonesia back in 1955, which was aimed to promote peace, cooperation, and freedom from colonialisation (or neo-colonialisation).

Malaysia certainly appears to have more opportunities within the BRICS group, than ASEAN. Malaysia will have more opportunity selling its natural resources, including oil palm and oil and gas. There will be deals in technology, especially artificial intelligence (AI) and digital economy. BRICS could be the key to Malaysia finding new sources for imports, and new markets for exports.

Certainly, BRICS will be where all the action is in 2025.