BRICS grouping opportunity to create fairer world order: Malaysian PM

KUALA LUMPUR, July 6 (Xinhua) -- The BRICS grouping, which has emerged as a strong and principled force, represents an opportunity to shape a more balanced and just international order, Malaysian Prime Minister Anwar Ibrahim has said.

Legacy international organizations need to be reformed to reflect the changing global realities and to take into account the aspirations of developing nations, Anwar said in a statement.

"I also call for a major overhaul of global institutions such as the United Nations, the International Monetary Fund, the World Bank, and the World Trade Organization, to better reflect current realities and the needs of developing countries, rather than remaining trapped in outdated post-World War II structures," he said.

Anwar, who was attending the 17th BRICS Summit hosted by Brazil, added that the grouping must strengthen its economic cooperation both among member states and with other regional groupings such as the Association of Southeast Asian Nations (ASEAN).

"BRICS and ASEAN members must also continue to strengthen strategic cooperation, including enhancing cross-regional trade and investment for the mutual benefit of developing nations," he said.