By FOX Sports Staff
Nedved, now a director at the Italian champions, was in Nyon on Friday to witness the draw for quarter-finals of the Champions League which produced Juve vs Bayern as the pick of the round.
"We're very proud to be here as representatives of Italy and above all among the best eight in Europe," Nedved told Sky Italia.
"It's the maximum as far as we're concerned, after plenty of suffering."
He added: "We'll be up against a side who are among the most feared in the competition."
"Bayern are a team with experience in this competition. The Germans are strong and skilled, but above all they're experts in this situation and that's their main characteristic. But we're also aware of our strengths."
Bayern are among the favourites to land Europe's top prize having reached the final last season before losing on penalties to Chelsea.
The Germans are in fine form currently with a huge 20 point lead in Bundesliga and accounted for Arsenal in the previous stage of the Champions League.
Nedved has history against the Bavarians having appeared in all four matches when the clubs met in the Champions League group stage in successive seasons from 2004/05 - and even scored the only goal in a 1-0 home victory for the Bianconeri in October 2004.
"Bayern are one of the most difficult sides we could have got, but we have to approach this tie with excitement," he told the competition's website.
"Bayern are very similar to Antonio Conte's team in many ways, so this will make things even more difficult for us."
Juve are also enjoying an impressive season as they sit nine points clear in Serie A with only 10 games to go.