Conference interpreting is the interpretation of a conference, either simultaneously or consecutively, although the advent of multi-lingual meetings has consequently reduced the consecutive interpretation in the last 20 years. Conference interpretation is divided between two markets: the institutional and private. International institutions (EU, UN, EPO, et cetera), holding multi-lingual meetings, often favor interpreting several foreign languages to the interpreters' mother tongues. Local private markets tend to bi-lingual meetings (the local language plus another) and the interpreters work both into and out of their mother tongues; the markets are not mutually exclusive. The International Association of Conference Interpreters (AIIC) is the only worldwide association of conference interpreters. Founded in 1953, it assembles more than 2,800 professional conference interpreters in more than 90 countries.