Eximbanka, as the only public export promotion institution, was today part of the top-level discussions on creating a positive and recognizable reputation of the country at the International Masterclass COMPETITIVE IDENTITY. Experts from different countries and representatives of public and commercial institutions agreed that it is necessary and indispensable to strengthen the strategic management of the country’s image in order to anchor Slovakia as an attractive brand in the international arena, with a clear and long-term strategy for its position.
With a mandate to support Slovak companies to establish themselves in foreign markets, the reach of Eximbanka’s activities is unquestionable, with more than EUR 55 billion of supported exports to more than 100 countries during its almost 30-year presence in the market. According to the authors of the conference, export is one of the basic elements of the hexagon of national identity building. The conference was led by Simon Anholt, a leading international expert on the image of countries, cities and regions, who is also a pioneer in the measurement of nation brand indexes and the creator of the Good Country Index and the Anholt-Ipsos Nation Brands Index.
“Slovakia is considered an export power, especially in terms of the size of exports relative to the country’s GDP. Our decisions on financing or insurance support have a major impact on the export profile. And although we try to help Slovak companies to establish themselves abroad, I still encounter the fact that Slovakia is little (or not at all) known or associated with the brand “Made in Czechoslovakia”. Moreover, the country’s added value in exports is relatively low, as most of our exports are linked to manufacturing sectors with a low share of research and development,” said Rastislav Podhorec, CEO and Chairman of the Board of Eximbanka.
The country of origin phenomenon also influences the success of Slovak companies exporting abroad. It is necessary to focus on areas that have a broad impact on the economy, with a promising future. Although goods play a major role in exports, the share of services in exports is growing globally, as more and more goods are linked to services, especially in the automotive, telecommunications, financial and consulting sectors.
“Taking into account all the parameters and the number of conversations I have had with partners from different countries, I see the starting point in the energy sector – specifically nuclear. Alternative energy sources are unstable, have fluctuations in supply and are heavily dependent on external influences. In contrast, nuclear is like a perpetual motion machine with clean energy, stable and high output. Moreover, Slovakia has long-standing know-how in this field and uses nuclear to produce most of its electricity (59%). The development or construction of nuclear plants is linked to the creation of new, professional jobs and supply chains with high added value and the prospect of a sustainable and secure future with significant export potential. It is therefore high time to strengthen the reputation of our country with a positive image of “Made in Slovakia,” concluded Rastislav Podhorec.
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ABOUT EXIMBANK SR
EXIMBANKA SR, as the only direct instrument of the state for financing exports, 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.
Photo source: Eximbanka
