Caracas, July 16 (Xinhua-RHC) -- Venezuelan President Nicolas Maduro said in Caracas on Tuesday that the decisions taken at a BRICS summit will change the course of the 21st century.

"The BRICS have made very important decisions to change the political and economic world order," said Maduro in his weekly TV program.

They announced plans to establish a development bank to be headquartered in the Chinese financial hub of Shanghai and a contingent reserve arrangement (CRA).

Maduro will attend meetings in Brazil between BRICS, the Union of South American Nations (UNASUR), and the Community of Latin American and Caribbean States (CELAC) on Wednesday and Thursday, to deepen the cooperation between these blocs.

The Venezuelan president is also set to attend a meeting between CELAC member nations and Chinese President Xi JinPing in a bid to establish strategic relationship between the bloc and China.