The Latest on the BRICS summit of five emerging market economies (all times local):

12:15 p.m.

BRICS leaders meeting in Goa will get a chance to interact with another group of South and Southeast Asian countries that are centered around the Bay of Bengal.

The little-known group known as the BIMSTEC, or Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation, comprises Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.

The decision to bring the leaders of the BIMSTEC countries to Goa is part of a new tradition of "outreach programs" by the country hosting the annual BRICS summit meeting. It was first initiated by South Africa when it invited leading African countries to the BRICS summit held in Durban in 2013.

A year later, Brazil invited its Latin American partners to the BRICS summit that it hosted in the beach resort town of Fortaleza.

Russia invited leaders of the Shanghai Cooperation Organization — a Eurasian political, economic and military group — to the summit held in Ufa, a city in southwestern Russia, in 2015.