Why is Slovakia Making the News?

Following a peaceful dissolution of Czecho-Slovakia in 1993, Slovakia’s accession process to the European Union and NATO as well as other euro-Atlantic structures accelerated stringent reforms this young country undertook. This force was positively driven by the unequivocal ambition of Slovak people to build free and prosperous democracy. As a result of the 2004 enlargement of the European Union, Slovakia, with its business and investment-oriented economic environment, became an integral part of the world’s largest common market. On January 1, 2009, Slovakia became a proud 16th member of the Eurozone with the EURO as its official currency.

Economic stability and friendly investment environment coupled with Slovakia’s 19% flat tax, skilled labor, high innovation potential for R&D projects while providing favorable government investment incentives have attracted a large number of foreign investors to Slovakia in recent years. The electronics and automotive industries emerged as two key sectors (currently in first place in automobile production per capita in the world).

Since the 1990s, the U.S.–Slovak business and investment relations have been flourishing with U.S. Steel’s purchase of a large steel plant in the Eastern region of the country. Among the most notable American companies operating in Slovakia are Accenture, AIG, AT&T, Citibank, Coca-Cola, Dana Corp., DELL, Emerson Electric, Getrag Ford Transmissions, HP, IBM, Jacobs Suchard, Johnson Controls, Molex, Pepsi-Cola, U.S. Steel, and Whirlpool.

Alongside excellent bilateral political relations with the United States, the promotion of trade and investment opportunities has been a focus of the Slovak foreign policy and its representation in the United States for the last two decades. In this context, the Dallas Regional Chamber is honored to co-host with the Embassy of the Slovak Republic to the U.S. a delegation consisting of high ranking government officials and executives from Slovakia on May 4, 2010 from 8:00 AM to 11:00 AM at the Texas Scottish Rite Hospital in Dallas. This event will feature Mrs. Olga Algayerova, State Secretary of the Ministry of Foreign Affairs introduced by H.E. Peter Burian, Ambassador of the Slovak Republic to the U.S. The seminar is being presented in connection with the official opening of the Honorary Consulate of the Slovak Republic in Texas which is led by a Dallas immigration lawyer and Slovakia’s native, Honorary Consul Martin Valko.

For more information on this event please click here or contact Anakarina Piña at (214) 712-1968 or at apina@dallaschamber.org.