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BRICS competitors come together in Fortaleza, Brazil

14 July 2014 Last updated at 03:02 BST

Brazil is preparing to welcome the leaders of Brazil, Russia, India, China and South Africa for the sixth BRICS summit in the north-eastern city of Fortaleza.

The diplomatic meeting sees these regional leaders and powerhouses come together every year. But economically, what ties them?

To find out more, the BBC's Katy Watson travelled to Brazil's southern-most state of Rio Grande do Sul where she spoke to Micheline Grings Twigger about a family-owned shoe factory there called Piccadilly.

Of the shoes the company produces, only 10% are exported outside South America.

"We are competing all the time because no-one can produce shoes with the prices of China," says Micheline.

Watch more reports on Asia Business Report's website.