Visiting Russian Prime Minister Viktor Zubkov assured Canadian businessmen on Thursday there was no risk for foreign investments in Russia, Itar-Tass reports.
"Russia has a stable political and economic situation, there is no risk in entering the Russian market, it is possible to invest," he told a meeting of the Russian-Canadian business council.
Zubkov recalled that Russia was assigned high investment ratings and has modernized its legislation to promote integration into the world economy.
"We aim to create a highly efficient and competitive economy, which corresponds to global trends," he said.
The prime minister admitted Canadian investments in Russia were insufficient, but his talks showed the situation is going to change.
"Unfortunately, so far Canadian investments in Russia are not big, but the moods, which exist in the government and in parliament, show that Canada would like to cooperate more actively with Russia not only in the political sphere, but in the economic field as well," Zubkov said.
"Canada is our strategic partner. These partnership relations are very important for Russia," he added.
"The present-day level of relations can be characterized as promising. Both Russia and Canada have a major potential for developing bilateral cooperation," the prime minister said.
In the first half of 2007 bilateral trade comprised one billion 134 million dollars. It is a considerable figure, but it can be much higher," Zubkov said, adding mutual investments were disproportionate to the scope of economies of the two countries.
He listed natural resources and power engineering as most promising cooperation spheres.
"We have to better use the factor of close geopolitical conditions of our countries," Zubkov said and specified he was speaking about cooperation in the Arctic and across the Pacific Ocean.
"It is clear that a single transport infrastructure will allow to implement the unique transportation potential of Russia and Canada (in the north)," he said.
Russia's Far East and Canada's west have similar natural and climatic conditions and, therefore, need energy-saving technologies and modern construction designs.
Zubkov recalled that Vancouver will host Winter Olympic Games in 2010, while Sochi will follow suit in 2014. "I wish the Canadians to collect all medals at the 2010 games, while we have to win all awards in Sochi in 2014," he wished.
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