President of Portugal Cavaco Silva and President of Slovakia Ivan Gašprovič Speak at the Economic Seminar

The official visit of the President of Portugal Cavaco Silva to Slovakia also included an economic seminar entitled “Economic relations between Slovakia and Portugal.”
In his speech, Ivan Gašparovič said that even if both countries rated the Slovak and Portuguese economic cooperation as satisfactory, it would not be indicative of the true possibilities which the potential of their economies offers.

The Slovak president also pointed out that during his official visit to Portugal in autumn three years ago, he was left with a comforting impression from the interest expressed by Portuguese businesses to cooperate and be involved with the ambitious Slovak economy. “One of my visit’s priorities at that time was to provide a necessary push for the development of our economic relations,” Ivan Gašparovič said.

The president appreciated that the truly large group of Portuguese business people visiting their Slovak partners – those both actual and potential– allowed him to confidently believe that the meetings will contribute to the further development of business and economic contacts, as well as the identification of new business opportunities. Ivan Gašparovič is pleased that so many Portuguese companies, representatives of which he met in Lisbon and Port, decided to come to Slovakia.

Portuguese partners have joined our markets in the fields of construction, modern technologies, banking, engineering, and car making industries as well as others. “I am also pleased with the significant increase of the dynamics in our economic cooperation, as well as the increase of trade turnover by almost threefold, amounting to a record-breaking EUR 227 million in the last year. Portugal, which used to be a marginal business partner, has thus now taken 18th place in terms of trade turnover among the EU member states.”

Ivan Gašparovič emphasised that at present Slovakia was the fastest growing economy in the EU, or OECD, since the GDP growth in 2007 amounted to 10.40%.

“We rank among the top countries in terms of foreign investments, with an increasing number of investors in higher added value sectors. Slovakia has at its disposal a highly qualified labour force, investment stimuli, and attractive and transparent tax laws including the flat rate tax. Our country is known for its strong industrial tradition and attractive geographical location in the heart of Europe. The strength and dynamics of the Slovak economy is particularly underlined by the fact that as of 1st January 2009 Slovakia will adopt the euro and become the 16th member of the European Monetary Union,” the Slovak president said at the Slovak and Portugal economic seminar.

At the seminar, the President of Portugal emphasised that Slovak and Portuguese businesses had also identified the needs of both countries in the areas of economic and business relations which would contribute to the further development of relations between their countries.

In addition to Slovak business people, more than 50 Portuguese business people also attended the economic seminar.