One of the international gatherings that has drawn attention recently is the one calling itself the BRICS group.
What are they and what are their goals?
BRICS is a unique grouping, established in 2011, with a membership of five emerging economies: Brazil, Russia, India, China and South Africa.
It was called by the BRIC Group before South Africa joined it in 2010 to become "BRICS".
The BRICS Forum is an independent international organization that promotes commercial, political and cultural cooperation among its member states
He had begun negotiating to form the "BRIC" group in 2006 and held its first summit in 2009.
The first foreign ministers meeting of Brazil, Russia, India and China on the sidelines of the United Nations General Assembly in New York in September 2006 formalized the new grouping.
All of the five BRICS countries - with the exception of Russia - are considered developing or new industrial countries, and are distinguished by their huge economies.
All member states - with the exception of Russia - achieved more sustainable growth than most other countries during the recession.
Perhaps the most important sign of the importance of BRICS to the global economy is its share of foreign currency reserves.
These four countries are among the top ten countries that maintain reserves amounting to about 40% of the total world reserves.
China alone has $ 2.4 trillion, enough to buy two-thirds of the Nasdaq companies combined, and is the second largest creditor after Japan.
But more importantly for Russia - and as for others - they see the group as a way of telling the United States that the largest developing countries have options, and that not all roads lead to Washington.
It is for this reason that some members of the US Congress view the BRICS with a look of panic and fear, and perhaps their most important and biggest concern is the Chinese currency.
Half of the world's population lives in the five countries. The gross domestic product of the countries combined is equivalent to that of the United States (13.6 trillion dollars). The total foreign exchange reserves of the OIC countries amount to four trillion dollars.
The BRICS group represents the largest economy outside the OECD, and is the club of the rich in emerging economies.
Despite the aspirations of the five BRICS countries with common economic opportunities and challenges, they face persistent questions about their ability to unify their positions on major international issues due to their differing priorities.
Among the challenges facing the BRICS is the necessity to speed up reforms and achieve the task of internationalizing its domestic currencies.
Therefore, strengthening monetary cooperation at various levels represents a common need among the countries of the group to internationalize their local currencies.
The issues covered by the BRICS meetings varied, and varied to include international challenges such as international terrorism, climate change, food, energy security, development problems and the global financial crisis.
Three summits and meetings of the Ministers of Foreign Affairs, Finance, Agriculture, Health and other sectors contributed to strengthening the bonds of cooperation between the BRICS countries.
In the future, the five countries will be able to conclude deals and exchange bonds of loans by establishing bilateral monetary mechanisms or between the five countries, establishing a joint investment and trade cooperation base, and establishing a multi-level monetary cooperation system between the group’s countries. Trade in local currency, and the continuous expansion of the scope and scope of the exchange of adoption of the local currency in bilateral or multilateral relations between the five countries, which will facilitate trade and investment exchanges between the countries of the group, and promote cooperation and mutual investment between them.
According to the British Economist magazine, if the BRICS gave up a sixth of their reserves, they could establish a fund the size of the International Monetary Fund.
Foreign currencies and assets provided protection and safety against the Great Depression, and helped the BRICS to become a financial power in addition to being an economic powerhouse at a time when most Western countries struggle to curb their budget deficits and rising debt.
With the exception of India, BRICS public debt levels are mostly modest and stable.
This economic performance has translated into different types of influence.
Perhaps its programs for development and the fight against poverty rank higher in the concerns of BRICS members than in Western countries.
These countries are trying to diversify their economies and defy the vague ideas of globalization.