Today in Turčianske Teplice a discussion forum – Export Club on the topic of Central Asia was held, organized by EXIMBANKA SR in cooperation with the Ministry of Foreign and European Affairs of the Slovak Republic (MFA SR). The aim of the event was to provide Slovak companies with an overview of opportunities for their expansion into Central Asian territories.
As Rastislav Chovanec, State Secretary of the Ministry of Foreign and European Affairs of the Slovak Republic, said at the opening of the Export Club, the development of cooperation with the Central Asian region is one of the priorities of the economic diplomacy of the Slovak Republic: “This dynamic market is experiencing rapid growth in various areas of industry, infrastructure, digitalization and energy security, which creates considerable potential for Slovak companies. We are therefore interested in deepening trade relations to help companies establish themselves in this territory. Our embassies are involved in a number of activities, be it the recent meeting of the Intergovernmental Commission for Economic and Scientific and Technological Cooperation in Astana, as well as the preparation of the first meeting of the Intergovernmental Commission for Economic Cooperation in Tashkent, which is expected to take place next year.”
“I am pleased to see that interest in the Export Club is growing dynamically, as is the dynamism of the Central Asian region with its abundance of investment and business opportunities. Countries such as Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan and Turkmenistan are undergoing rapid economic change, industrial and infrastructure modernisation, opening doors and business opportunities for Slovakia with strong expertise – from energy, engineering, agriculture to IT and innovation. I am convinced that meetings such as today’s are crucial to better understand the specifics of each market, their needs, as well as cultural differences that are integral to successful business cooperation,” said Rastislav Podhorec, CEO of Eximbanka.
Slovak entrepreneurs received useful information on various forms of export support in the territory and attended dozens of B2G meetings, including. Hemer Amannazarov, Ambassador of Turkmenistan in Austria, Idibek Kalandar, Ambassador of the Republic of Tajikistan in Austria, Bakhtiyor Ibragimov, Ambassador of the Republic of Uzbekistan in Austria, Tolendy Makeyev, Ambassador of the Kyrgyz Republic in Austria and Magzhan Ilimzhan, First Secretary of the Embassy of the Republic of Kazakhstan in Slovakia.
Kazakhstan is the largest economy in Central Asia, with the highest GDP per capita in the region, a multifaceted international policy, a favourable tax regime and investor protection.
Tajikistan has a stable macroeconomic situation (average GDP growth over the last 20 years has been 7.5%), a predictable legal environment, a young, talented and cheap workforce, and more than 600 mining sites and 52 chemical elements (most of the elements in the Mendeleev table are found here).
Uzbekistan is strategically located, open to investment, has strong economic fundamentals (7% average annual GDP growth, 24% foreign trade growth in 2023, low public debt of 36% to GDP) and is the cheapest according to The Economist’s cost of living index.
Kyrgyzstan has a favourable location, low taxes and low electricity and accommodation costs, liberal legislation and a skilled and educated workforce, a ratified Investor Rights Agreement and visa-free travel for 61 countries.
Turkmenistan has a good strategic location, an efficient judicial system, advanced infrastructure, the largest amount of natural resources and low energy prices.
Eximbanka supports Slovak entrepreneurs in their export activities to traditional EU markets, while also focusing on export markets outside the EU and new, promising territories in emerging regions or geographically more distant destinations.
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ABOUT EXIMBANKA SR
EXIMBANKA SR as the only direct instrument of the state for export financing is an important part of the chain responsible for promoting the country’s economic policy in the field of external economic relations. It is an important instrument of state support for exports in the field of financing, provision of guarantees and insurance of credit risks. It offers a wide range of export-related financial products, in particular credit insurance, financing and guarantees. As a state export credit agency, it enables Slovak exporters to enter into trade and investment relations where the commercial financial sector is less interested in taking on risk and therefore performs a complementary function.
Media contact: Martina Vráblik Solčányiová
Department of Communication and Marketing
EXIMBANKA SR
Tel.: +421 903 542 072
vrablik@eximbanka.sk
Photo source: Eximbanka (photographer: Lukáš Klčo)
