Around 150 meetings are held annually across the three pillars of BRICS cooperation: political and security cooperation, financial and economic cooperation, and cultural and people-to-people cooperation. Over 30 agreements and memorandum of understanding provide a legal foundation for cooperation in the areas as diverse as the Contingent Reserve Arrangement, customs, tax, interbank cooperation, culture, science, technology and innovation, agricultural research, energy effciency, competition policy and diplomatic academies.