The Hindu Business Line : Slovak accession to EU to boost FDI inflow

SLOVAKIAN accession to the European Union (EU) on May 1 will provide more opportunities for the emerging country in the field of foreign direct investment (FDI) flow.

Addressing the third meeting of the Indo-Slovak joint business council (JBC) organised by the Federation of Indian Chambers of Commerce and Industry on Friday, Mr Peter Mihok, President of the Slovak Chamber of Commerce and Industry, said: "Slovakia's integration with EU could have a further positive effect on the rise in comparative price levels and rise in productivity."

He added that the accession and the related adoption of the EU's common trade policy should not have a major impact on Slovakia's foreign trade with countries of the future EU and third countries and its commodity structure.

He emphasised that most of the current FDIs are still partially linked to Slovak banking, energy and car-production sectors.

"It is expected that this positive development will result in increase of FDI to the Slovak Republic and favourable conditions for Government credits. The best Slovak companies will also internationally profit because of its origin in a country with a good rating."

Mr Mihok said that the Slovak business environment offers to foreign business partners a very broad range of opportunities.

The Slovak Republic makes a suitable location to operate an enterprise and trade with respect to its geographic location in the Central Europe and well-established contacts with the countries of the EU as well as with other countries, he added.

The main imports of the Slovak Republic are pharmaceuticals, shoe products, coffee, alkaloids from plants, chemicals products, iron and steel, leather goods, textiles, rice and tobacco, totalling $23.3 million.

More Stories on : Foreign Direct Investment | Foreign Trade

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page