"I believe that our business communities should act more energetically, especially given that the current level of interstate relations between Russia and Canada is very high," Viktor Zubkov said after a meeting with his Canadian counterpart, Stephen Harper, adding that relations have potential for growth.
He said bilateral trade in the first half of 2007 was $1.13 billion.
"It is a serious figure, but it could be substantially higher," he said, urging greater investment on both sides, especially in mineral resources, energy, and high technology.
Zubkov said Russia and Canada planned to develop the Arctic shelf and transport infrastructure in the Arctic and in the Upper North, in particular the Arctic Bridge project, a potential sea route linking the Russian port of Murmansk to Churchill, Manitoba.
He said he backed the idea of creating a Russian-Canadian coordination committee to promote effective projects, adding that the committee would include representatives of the legislative and executive branches of government.
Russia and Canada have signed an export insurance agreement, Russia's agriculture minister said.
Alexei Gordeyev also said Russia's government-controlled foreign economic bank Vnesheconombank and Canada's Export Development Corporation signed a cooperation agreement.
Russia and Canada have created a joint committee on fishing, which is to hold its first meeting in June 2008, said Andrei Krainy, head of the Russian Federal Fisheries Agency.
"We would like to work in the Canadian economic zone - we need to return to the world oceans," he said.
