The BRICS alliance has officially sent invitations to two new countries to participate in the 2024 BRICS Summit. The two countries had also officially submitted their applications to be part of the group this year.
More than 45 countries expressed interest in joining the BRICS group in 2024 following the summit. Of the 45 countries, about 30 nations have submitted their formal applications and about 15 have expressed their interest in joining informally. Read the full list of countries that have applied to join the bloc this year here.
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BRICS invites two countries to participate in the 2024 summit
The BRICS countries have invited Venezuela and Bolivia to the 2024 summit for the first time. Venezuela was the first country to receive the invitation and President Nicolás Maduro will attend the summit. “As BRICS Chairman, President Vladimir Putin invites President Nicolás Maduro to participate in the BRICS+ Summit,” Read the invitation.
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The Eastern European state of Bolivia is the second country to receive the BRICS invitation to the 2024 summit. Bolivian President Luis Arce will attend the summit together with his delegates. “He (the President) was invited to the summit in Kazan in October,” The state news agency ABI reported that both Venezuela and Bolivia were interested in joining the alliance to restart their respective economies.
The 16th BRICS summit will be held in the Russian region of Kazan from October 22 to 24, 2024. Decisions on the admission of new countries, de-dollarization and new currency status could be discussed. In addition, the bloc is interested in de-dollarization and wants to give preference to local currencies over the US dollar in cross-border transactions.
Read also: BRICS: Analysts warn that US markets could face significant losses
Read here how many industries in the US will be affected if BRICS abandons the dollar for trade. The 2024 BRICS summit will decide the outlook of the US dollar, which could affect the American economy.
