How Croatia and Slovakia Can Increase Trade Exchange from 525 Million Euros

Although in the last five years the volume of trade exchange between Slovakia and Croatia has more than doubled, the trade exchange between these two countries, which amounted to 525 million euros last year, cannot satisfy anyone, it was stated on Tuesday during the Croatian-Slovak Economic Forum attended by 60 Croatian and 25 Slovak companies.

– The level of cooperation, which is just above half a billion euros, cannot satisfy us; it can be better, said Želimir Kramarić, Vice President of the Croatian Chamber of Economy (HGK), on behalf of the event’s organizers.

According to him, in recent years, increasingly better relations have been established between Slovak and Croatian companies, especially among small and medium-sized enterprises. Slovak Ambassador to Croatia Juraj Priputen sees great potential for intergovernmental cooperation, among other areas, in energy, green technologies, the automotive industry, innovations, IT, and tourism. He invited representatives of our companies to utilize the experiences of Slovak colleagues who have been in the European market for over 12 years.

General Secretary of the Slovak Chamber of Commerce and Industry Martin Hrivik emphasized that they have been successfully cooperating with HGK since 1993, while Assistant Minister of Economy, Small and Medium Enterprises, and Crafts Ivan Sertić noted that in mutual trade exchange between the two countries, Croatia is in deficit, but this is at least partially compensated by tourism. Last year, over 400,000 Slovak tourists visited Croatia, and for years, we have been the most desirable destination for Slovaks.

From the total intergovernmental trade exchange mentioned, Croatia exported goods worth 175 million euros to Slovakia last year, while simultaneously importing goods worth 349 million euros. The most exported items included seats, leather and synthetic leather products, electrical transformers, monitors, and projectors, while imports included phones, petroleum oils and oils derived from bituminous materials, monitors and projectors, personal and other motor vehicles.

Sertić invited Slovaks to invest in Croatia because, as he said, it is a competitive country for investment. Assistant Minister of Economy of the Slovak Republic Dušan Jurik stated, in light of the recent decision regarding the exit of the United Kingdom from the EU, that small European countries should stick together.

During the forum, it was also highlighted that direct investments from Slovakia to Croatia from 1993 to the end of the second quarter of this year amounted to 135.5 million euros, which is 0.46 percent of total foreign investments in Croatia. On the other hand, Croatia has simultaneously invested only 26.5 million euros in Slovakia. An Agreement on Cooperation between HGK and the Slovak Chamber of Commerce and Industry was also signed, as well as a Memorandum of Understanding between HGK and the Slovak Agency for Investment and Trade Promotion.