Focusing on similarities
“Thanks to our strong supervisory systems and banking legislation, our two countries have avoided bankruptcies in the sector and prevented transfers of large amounts of money to parent banks abroad.”
The Slovak Ambassador also indicated that her country’s government had implemented more than 60 anti-crisis measures, focusing on better implementation of EU funds, acceleration of PPP projects, creation of new programs for SMEs, export stimulation and job creation. “Slovakia and Romania are exchanging their experiences in the implementation of anti-crisis measures and are acting together in this area on the EU floor.”
According to the Ambassador, the main areas of cooperation between Romania and Slovakia include the renewable energy sector, environmental technologies (especially waste water and solid waste treatment), automotive industry (spare and machine parts), as well as consumer electronics, healthcare (emergency services and equipment) and tourism.
The energy sector in Romania is the prime magnet for private investments from Slovakia. “Slovaks are particularly interested in investing in renewable energy, use of geothermal resources, waste water treatment and waste incineration. They are also attracted by sectors such as machine building and dairy production. Now, we are offering assistance to two Slovak companies that operate in the area of construction and rehabilitation.” The Slovak Embassy’s Commercial Department recorded around 270 Slovak companies in Romania, located mainly across the northern and northwestern part of Romania, areas inhabited by a Slovak minority.
The embassy assists Slovak investors in developing their businesses in Romania, and supports an increasing number of Slovak participants at business fairs and events in Romania. “Alongside our traditional participation in various trade shows and exhibitions, such as the Bucharest International Technical Fair (TIB), we had our first participants in the agricultural fair, Indagra, and for the first time Slovak travel agencies attended the travel fairs this year.”
The embassy has also been involved in organizing a number of business missions in partnership with the Romanian network of chambers of commerce and industry. In addition, Slovak President Ivan Gasparovic is scheduled to visit Romania in October. For this occasion, bilateral business forums will be organized in Bucharest and Oradea.
Referring to bilateral trade, Ambassador Repcekova recognized that Slovak exports have fallen due to the decline in the automotive markets. As a result, Slovak exports to Romania slowed from 927 million Euro last year to 220 million Euro in the first five months of 2009, while Romania’s exports to Slovakia declined 369 million Euro to 88 million over the same period. “Based on the recovery signals that we have seen so far, we expect a moderate rise in our bilateral trade at the end of the year, reaching around 80 per cent of the 2008 figure,” she said. Helping bilateral trade return to its 2008 level is therefore a top priority for Ambassador Repcekova in 2010. She also wants to see more Romanian investors in Slovakia, as well as at least five new Slovak companies in Romania, with investments of some five million Euro each.
Among her achievements thus far, Ambassador Repcekova mentioned the embassy’s contribution to the foundation of the Slovak – Czech – Romanian Business Center in Oradea and the implementation of a central heating project based on split fuel wood in Resita. She is particularly proud of the growing number of Romanian students on scholarship in Slovakia, the increasing number of teachers representing the Slovak minority in Romania and the diplomatic, commercial, and cultural exchanges between the two countries.
The Slovak Ambassador also indicated that her country’s government had implemented more than 60 anti-crisis measures, focusing on better implementation of EU funds, acceleration of PPP projects, creation of new programs for SMEs, export stimulation and job creation. “Slovakia and Romania are exchanging their experiences in the implementation of anti-crisis measures and are acting together in this area on the EU floor.”
According to the Ambassador, the main areas of cooperation between Romania and Slovakia include the renewable energy sector, environmental technologies (especially waste water and solid waste treatment), automotive industry (spare and machine parts), as well as consumer electronics, healthcare (emergency services and equipment) and tourism.
The energy sector in Romania is the prime magnet for private investments from Slovakia. “Slovaks are particularly interested in investing in renewable energy, use of geothermal resources, waste water treatment and waste incineration. They are also attracted by sectors such as machine building and dairy production. Now, we are offering assistance to two Slovak companies that operate in the area of construction and rehabilitation.” The Slovak Embassy’s Commercial Department recorded around 270 Slovak companies in Romania, located mainly across the northern and northwestern part of Romania, areas inhabited by a Slovak minority.
The embassy assists Slovak investors in developing their businesses in Romania, and supports an increasing number of Slovak participants at business fairs and events in Romania. “Alongside our traditional participation in various trade shows and exhibitions, such as the Bucharest International Technical Fair (TIB), we had our first participants in the agricultural fair, Indagra, and for the first time Slovak travel agencies attended the travel fairs this year.”
The embassy has also been involved in organizing a number of business missions in partnership with the Romanian network of chambers of commerce and industry. In addition, Slovak President Ivan Gasparovic is scheduled to visit Romania in October. For this occasion, bilateral business forums will be organized in Bucharest and Oradea.
Referring to bilateral trade, Ambassador Repcekova recognized that Slovak exports have fallen due to the decline in the automotive markets. As a result, Slovak exports to Romania slowed from 927 million Euro last year to 220 million Euro in the first five months of 2009, while Romania’s exports to Slovakia declined 369 million Euro to 88 million over the same period. “Based on the recovery signals that we have seen so far, we expect a moderate rise in our bilateral trade at the end of the year, reaching around 80 per cent of the 2008 figure,” she said. Helping bilateral trade return to its 2008 level is therefore a top priority for Ambassador Repcekova in 2010. She also wants to see more Romanian investors in Slovakia, as well as at least five new Slovak companies in Romania, with investments of some five million Euro each.
Among her achievements thus far, Ambassador Repcekova mentioned the embassy’s contribution to the foundation of the Slovak – Czech – Romanian Business Center in Oradea and the implementation of a central heating project based on split fuel wood in Resita. She is particularly proud of the growing number of Romanian students on scholarship in Slovakia, the increasing number of teachers representing the Slovak minority in Romania and the diplomatic, commercial, and cultural exchanges between the two countries.
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