The BRICS summit is underway in Russia

eaders of BRICS, a group of the world’s emerging economies, are attending the group’s 16th summit this week, hosted by Russian President Vladimir Putin in Kazan, a city in southwest Russia.

This year, 36 countries are participating in the 3-day conference, as the group has expanded widely beyond its founding members — Brazil, Russia, India, China, and South Africa — to become a global economic force. It newest members are Egypt, Ethiopia, Iran and the United Arab Emirates.

The group, which often presents itself as a counterweight to the Western-dominated world order, now accounts for more than one-third of global economic output (PPP adjusted) — a figure that’s only expected to rise in the coming years.