BRICS, the BRICs of South Africa, Brazil, Russia, India and China, have emerged as one of the most powerful countries in the world and are already preparing for their next phase of globalisation.

The BRICS countries – Russia, Brazil and India – will hold their first summit in Beijing on April 6-7, where the leaders will discuss the future of the new Asian Infrastructure Investment Bank, known as BRICS (the Asian Infrastructure Finance Corporation) as well as the South Asian Infrastructure Development Bank (SAIDB).

The two BRICS leaders will also discuss the BRICA summit in July.

China’s President Xi Jinping and Russian President Vladimir Putin also will be in attendance.

The two leaders will be joined by a host of other world leaders in the first BRICS summit.

The event is scheduled to be held in Beijing, but it is expected to be more than one day, as Chinese media reported on Wednesday that the two leaders were due to attend the event.

According to the BRITs website, the two nations are currently on the verge of a historic transition from the Cold War era to the modern world, as China and Russia have become more engaged in global economic, military and political affairs, as well in the fight against climate change.

The world leaders are set to discuss issues ranging from climate change to trade and investment to regional security.

China has also set a goal of building a “soft power” capability to counter the US in the Asia-Pacific region, the website said.