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The 8th annual BRICS conference is taking place on October 15-16 in the Indian state of Goa and will be attended by the five countries' leaders, who will discuss a plan for cooperation in the near future as well as a wide range of political, economic and security issues.

A number of bilateral meetings between the BRICS presidents is set to take place on the sidelines of the Goa summit.

BRICS is an association of five developing economies which comprise over one third of the world's population. The BRICS member-states (China, Russia, Brazil, India and South Africa) have a combined nominal GDP equivalent to approximately 20 percent of the gross world product.

People walk out of one of the venues of BRICS (Brazil, Russia, India, China and South Africa) Summit, in Benaulim, in the western state of Goa, India, October 14, 2016. - Sputnik International
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