RIO DE JANEIRO — Prime Minister Datuk Seri Anwar Ibrahim has called on Malaysian companies to venture into new markets beyond the US and China, highlighting Brazil as a promising example.

Speaking at a dinner hosted by Yinson Production, Anwar praised Yinson and Petronas for their successful projects in Brazil, which impressed President Luiz Inácio Lula da Silva. He urged more Malaysian firms to tap opportunities in emerging markets through platforms like BRICS.

Yinson currently operates three FPSO projects in Brazil, while Petronas is involved in oil production and retail operations there.

Anwar, who is attending the BRICS Leaders’ Summit as ASEAN chair 2025, said Lula accepted his invitation to visit Malaysia in October with a delegation of ministers and business leaders for a joint conference.

He noted that Brazil has grown into a key economic power and Malaysia’s trade with Brazil rose 14.6% to RM20.35 billion in 2024.

Investment Minister Tengku Zafrul Abdul Aziz has been tasked to support Malaysian firms doing business in Brazil.