2 New Countries Get Invited To Attend BRICS 2024 Summit

The BRICS alliance has officially sent out invitations to two new countries to attend the BRICS 2024 summit. The two countries had also formally submitted their applications to be a part of the grouping this year.

More than 45 countries have expressed their interest in joining BRICS in 2024 after the summit. Out of the 45, around 30 nations formally sent their applications, and around 15 have informally expressed their interest in joining. Read here to know the full list of countries that have applied to join the bloc this year.

Also Read: BRICS: JP Morgan CEO Says U.S. Recession Is Coming

BRICS Sends Invitation To 2 Countries to Attend the 2024 Summit

BRICS rolled out their first two invitations to Venezuela and Bolivia to attend the 2024 summit. Venezuela was the first country to receive the invitation and President Nicolas Maduro will attend the summit. “As BRICS chair, President Vladimir Putin invites President Nicolas Maduro to attend the BRICS+ summit,” read the invitation.

Also Read: ‘BRICS Bridge’ To Replace SWIFT and End Dependency on the US Dollar

The Eastern European nation Bolivia is the second country to have received the BRICS invitation for the 2024 summit. The Bolivian President Luis Arce will attend the summit along with his delegates. “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 revive their respective native economies.

The 16th BRICS summit will be held from October 22 to 24, 2024 in the Kazan region of Russia. Decisions about inducting new countries, de-dollarization, and new currency status could be discussed. In addition, bloc is keen on de-dollarization and aims to push local currencies ahead of the US dollar for cross-border transactions.

Also Read: BRICS: US Markets Could Face Substantial Losses, Analyst Declares

Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. The 2024 BRICS summit will decide the prospects of the US dollar that could affect the American economy.