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Kuala Lumpur: Malaysia is considering joining several international organisations, including the Organisation for Economic Co-operation and Development (OECD) – investment, trade and industry minister Tengku Datuk Seri Zafrul Aziz says.

The minister said Malaysia would continue its independent, principled and pragmatic foreign policy to maintain a balance between the country’s economic development and good relations with all trading partners, especially world economic powers.

“The government will use a multi-directional approach so that the interests of the country are always upheld.

"This is one of the main reasons why Malaysia is considering participating in BRICS and some other appropriate organisations such as the OECD, where we can contribute to the development of the international community,"he said to a question from senator Datuk Noraini Idris in the Dewan Negara today on whether Malaysia joining economic alliances would affect national planning and global trade relations.

Tengku Zafrul said that Malaysia as a trading country always focused on strengthening economic cooperation with all trading partner countries.

He said this was proven through the country’s active role in various international organisations such as Asean, the Asia Pacific Economic Cooperation, the United Nations, and the Organisation of Islamic Cooperation.

“In that context, Malaysia’s participation in BRICS is in line with efforts to drive the economic agenda for the benefit of the country and the people.

"With a strategic and balanced approach, Malaysia can optimise the benefits of participation in BRICS in addition to ensuring the stability and continuity of trade relations globally," he said.

The total BRICS gross domestic product is estimated at US$26.6 trillion or 26.2% of the world’s GDP, Tengku Zafrul said.