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Both Zuma and Putin referred to the "complicated global situation" during a bilateral meeting.
Despite a global economic slowdown, BRICS has been a main economic engine for the world economy.
Russia's economy is expected to bounce back into solid growth in 2017.
China is the world's second largest economy and expected to surpass the US in a few years.
Brazil is a Federal Republic; Michel Temer is the president and head of state.
India and Russia also announced a deal to pave the way for a group led by Russian oil giant Rosneft to acquire India's Essar Oil.
This is the first time for the two diplomats to meet since relations between Moscow and Washington soured.
Leaders from Brazil, Russia, India and South Africa have arrived in the western Indian state of Goa for the 8th BRICS Summit that begins on Saturday. The group will discuss the global economic and
