18th BRICS Leaders' Summit - Open Session
Prime Minister Modi ji, namaskar. And thank you to the government and people of India. Excellencies, we meet at a moment of great contradiction. My colleagues have expanded this brilliantly. Technology has rarely advanced faster. Yet, for much of the developing world, economic uplift remains remote. Between the promise and the delivery lies a chasm that we must strive to close. More than a decade after the adoption of the 2030 agenda, progress remains deeply uneven. Too many countries are in debt distress or at serious risk of it. Far too many people live in countries where more is spent on interest than on teaching the young or tending the sick. No nation should be forced to choose between honoring its debts and honoring its obligations to its people. Financing must be fit to purpose. Meeting basic needs and providing public goods should not leave countries carrying debts they cannot sustain. Commercial capital also has an important role, provided it is deployed on sound and sustainable terms, including the initiative for new development bank and mechanisms to settlements or local currency settlements, which is important for us to proceed without delay. And to my mind, also the potential of Islamic capital markets. May I humbly reiterate that we need to jointly act through concrete actions to dismantle the unfair trading practice. We need to share the development experiment experience with fellow developing countries through technical cooperation, training in new fields of technology, including semiconductor and artificial intelligence. Green transition must reflect different national circumstances. Countries will move at different speeds and by different path depending on the circumstances and stages of development. We need to invest in technologies such as carbon capture, utilization, and storage as part of our own transition. BRICS offer crucial geo-economic advantage in more ways than the term utility suggests. BRICS generate the critical mass from a vast integrated market, opening up crucial opportunities for trade diversification, and more significantly, enabling member economies to wean off their over-reliance on traditional Western markets. At the end of the day, the synergies that are created, exploited, and optimally utilized will serve as an impetus for the generations of economic growth and shared prosperity. Excellencies, we cannot speak of inclusive growth and prosperity while war drives energy prices higher and threatens the sea lanes which our economy depends. The aggression perpetrated by Israel in the Middle East has already reached far beyond its protagonist. Countries with no part in this war are paying are paying through insecurity, higher inflation, and economic uncertainty. Our position is clear. Sovereignty must be respected. Civilians protected and the arteries of the global economy kept out of the battlefield. Those with the greatest capacity to shape events bear a particular responsibility to prevent further escalation. Malaysia hopes BRICS will plainly and will say plainly and unequivocally that any form of aggression against fellow countries, occupation, settler colonialism, or more in point, settler terrorism cannot become destiny and no life weighs less for where it is lived. BRICS can widen our choices and strengthen our capacity to shape the world around us. But influence is not an end in itself. It matters only if we are prepared to use it in service of the principles we profess. For Malaysia, strategic autonomy means the freedom to choose our own course and the courage to stand by that choice when it matters. As a partner country, Malaysia hopes to contribute in that spirit. Thank you.