8/13/2024 5:05:06 AM

The BRICS Alliance Invites Venezuela and Bolivia to the 2024 BRICS Summit

The BRICS alliance has extended official invitations to two new countries for the 2024 BRICS summit. Venezuela and Bolivia, both of which formally submitted their applications earlier this year, are the first nations to be invited to join the group.

 

The 16th BRICS summit is scheduled to take place from October 22 to 24, 2024, in Russia’s Kazan region. The agenda may include discussions on admitting new member countries, de-dollarization, and the potential adoption of a new currency. The bloc is particularly focused on promoting local currencies for cross-border transactions, aiming to reduce reliance on the US dollar.

In the lead-up to the 2024 summit, more than 45 countries have expressed interest in joining BRICS. Out of these, around 30 nations have formally applied, while approximately 15 others have informally shown interest in becoming members.

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