The BRICS alliance has invited three countries to attend the 2024 summit in October this year. The 16th summit is scheduled to take place in the Kazan region of Russia on October 22 to 24. The expanded nine-member alliance will discuss bilateral trade, ways to promote local currencies, and new ways to settle cross-border transactions. The de-dollarization agenda will also be discussed on how to end dependency on the US dollar.
Also Read: BRICS: No De-Dollarization, Countries Use China When It Suits Them
Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. The development will kick-start a paradigm shift in global finances and directly challenge the US and other Western allies. The upcoming BRICS 2024 summit will play a prominent role in the future of the US dollar.
Also Read: BRICS No Longer Attaching Importance to the US Dollar
BRICS 2024 Summit: Alliance Sends Invitations To 3 Countries
The BRICS bloc has invited three countries to attend the 2024 summit and they are Venezuela, Bolivia, and Palestine. Venezuela was the first country to receive the invitation this month followed by Bolivia. “As BRICS chair, President Vladimir Putin invites President Nicolas Maduro to attend the BRICS+ summit,” read the invitation.
Also Read: BRICS: U.S. Dollar in World Reserves Fall Below 60%
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. Palestine will be receiving the BRICS 2024 summit invitation soon and is overlooked by Russia.
The BRICS 2024 summit could give Palestine a stage and voice its concerns to the world about the conflict with Israel. The two Middle Eastern countries have been at loggerheads for decades but the conflict escalated after the October 2023 attacks. BRICS member Iran has also involved itself in the tensions leading to instability in the region. The war has caused immeasurable damage taking thousands of lives, including children, women, and the elderly.