Medvedev calls for boosting of Russian-U.S. economic ties

Russian President Dmitry Medvedev called for increased Russian- U.S. economic cooperation, stressing that Russia needs to learn from the experience of the United States in modernizing its economy. Russian President Medvedev met with his U.S. counterpart Barack Obama on Thursday in the Czech Republic capital of Prague to sign a new nuclear arms reduction treaty.

"We really do have a gap in economic cooperation. [...] U.S. investment in the Russian economy only amounts to around $7 billion. This figure decreased slightly during the [economic] crisis," Medvedev said at the press conference. The Russian president said the country's investment in the U.S. economy was nearly the same amount, indicating a parity of interests.

"If these figures are compared with the foreign investment in the U.S. economy from other countries, including countries with similar economic might to Russia, there is a difference of 20-30 times," Medvedev said. Medvedev said Russia was seeking to create a high-tech economy.

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