"In 2004 bilateral trade turnover grew by 30% and totaled $3.7 billion," the ambassador said at the opening ceremony of the international conference in Prague dedicated to development prospects for Russian-Czech investment cooperation.
"We see good prospects for bilateral trade and economic relations in engineering, metallurgy, fuel and energy sphere and hi-tech sphere offering possibilities for development of industrial and innovation cooperation and establishment of new joint ventures," Fedotov said.
The conference in Prague is held following the Russia-EU summit in Moscow on May 10.
"The main goal of the conference is to improve a systematic direct investment dialogue between Russian and Czech regions," the diplomat said.
Representatives of over 20 Russian regions, including Moscow, the Stavropol territory, the Sverdlovsk and Kostroma regions and the Republics of Chuvashia and North Ossetia took part in the forum.
"Russian and Czech businessmen discussed a wide range of issues, particularly, concerning legal and organizational aspects which can promote development of direct mutually beneficial links between Russian and Czech regions," press secretary of the Russian embassy in the Czech Republic Alexander Gomenyuk told RIA Novosti.
