The strategy of Slovak exporters is gradually changing. Companies are increasingly looking for new markets outside the traditional European space for their expansion. In the context of global challenges, geopolitical uncertainty and disrupted supply chains, there is also growing interest in less predictable but promising regions. It appears that Slovak companies are ready to export also to geographically and culturally more distant countries, if there are real business opportunities there.
Our survey of exporters shows that the greatest interest is in Ukraine (19 per cent), which ranks among the markets with great potential thanks to its extensive renovation needs – especially in the energy and infrastructure sectors. Sub-Saharan Africa (16 per cent), the Western Balkans (15 per cent), South and Southeast Asia (13 per cent) and Latin America (9 per cent) followed.
Ukraine is of strategic importance for Slovak companies. Thanks to its geographical proximity, it represents a natural space for the export of goods, technologies and know-how. Slovakia is actively involved in the EU’s joint efforts to rebuild Ukraine, and Eximbanka is a key instrument of this effort. As a country, we have succeeded in the international competition of the European Commission’s call under the “Investment Framework for Ukraine” (UIF) and have been awarded more than EUR 100 million to support the renewal of Ukraine’s energy infrastructure.
In this context, Eximbanka will provide financing of €77.2 million, backed by a 90% guarantee from the European Commission. At the same time, Eximbanka has joined the European Investment Fund (EIF) Export Credit Pilot Programme under InvestEU, where it has obtained guarantees for an insurance portfolio worth €20 million, primarily for small and medium-sized enterprises.
Such instruments are an effective way to support the diversification of Slovak exports and at the same time ensure their greater resilience to fluctuations in traditional markets. They represent a major benefit for Slovak exporters. They allow them to enter riskier markets with lower financing costs, coverage of political and commercial risks and the possibility to obtain support also for long-term contracts.
This increases their competitiveness and opens up new business opportunities. For SMEs, it also means a chance to keep pace with bigger players and engage in international projects that would be harder to reach without this support, while gaining more stable conditions for export planning and investment.
Source: Hospodárske noviny