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.

Venezuela was the first country to receive an invitation, with President Nicolas Maduro set to attend the summit. Bolivia, an Eastern European nation, was the second country invited, and Bolivian President Luis Arce will also attend the event with his delegation. The Bolivian state news agency ABI confirmed the invitation, noting that President Arce will participate in the summit, which will be held in Kazan, Russia, in October 2024. Both Venezuela and Bolivia are eager to join BRICS to bolster their respective economies.

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