When investors think about emerging markets, they usually focus on the popular BRIC countries of Brazil, Russia, India, and China. But increasingly, even smaller countries are gaining investor attention.

In the following video, Fool markets analyst Mike Klesta talks with Fool contributor Dan Caplinger about the promise of frontier markets. As Dan notes, markets in areas such as the Persian Gulf, Latin America, and elsewhere are giving the BRIC countries a run for their money. Dan and Mike discuss how you can get exposure to these high-growth markets as well as some of the risks involved.