The BRICS alliance formally invited two more countries to attend the 2024 BRICS summit. Both countries had formally applied to join the group earlier this year.
After the summit, more than 45 countries expressed interest in joining BRICS in 2024. Of these 45 countries, about 30 have formally submitted applications and about 15 have informally expressed interest in joining.
BRICS sends invitations to two countries to attend 2024 summit
BRICS has sent its first two invitations to Venezuela and Bolivia for its 2024 summit. Venezuela is the first country to receive the invitation, and President Nicolas Maduro will also attend the summit. “As BRICS chair, President Vladimir Putin invites President Nicolas Maduro to attend the BRICS+ summit.”
Eastern European country Bolivia is the second country to receive a BRICS invitation to the 2024 summit. Bolivian President Luis Arce will attend the summit with his delegation. “He (the President) has been invited to the summit in Kazan in October,” state news agency ABI said. Both Venezuela and Bolivia are interested in joining the alliance to boost their domestic economies.
The 16th BRICS summit will be held in Russia’s Kazan region from October 22-24, 2024. Decisions on the accession of new countries, de-dollarization and the status of new currencies may be discussed. Moreover, the bloc is interested in de-dollarization and wants to prioritize local currencies over the US dollar in cross-border transactions.
Read here how many sectors in the US will be affected if BRICS ditches the dollar in trade. The 2024 BRICS summit will determine the outlook for the US dollar, which could affect the US economy.
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