SLOVAKIA, CONFINDUSTRIA: STRATEGIC PARTNERSHIP, EXPORT POTENTIAL OF 1.87 BILLION EURO

Cimmino: 'We share a strong manufacturing vocation and a distinct propensity to export'

Rome, 15 January 2025 - Delving into business and investment opportunities in Slovakia, focusing on key sectors such as machinery, energy, IT, electronics, construction, chemicals and pharmaceuticals, food, textiles and automotive. This was the aim of the conference 'Why Slovakia? Fit for Investing and Trade', held in Rome and organised by Confindustria and the Embassy of the Slovak Republic in Italy, with the support of MAECI, MIMIT and ICE-Agenzia.

The event gathered 150 participants including institutions, investment agencies, business associations and 65 Italian companies. Speakers included: Barbara Cimmino, Vice President for Export and Investment Attraction of Confindustria, Peter Pellegrini, President of the Slovak Republic, Adolfo Urso, Minister of Enterprise and Made in Italy, Denisa Sakova, Slovak Deputy Prime Minister and Minister of Economy, and the President of ICE-Agency, Matteo Zoppas.

'Our companies are looking with great interest at Slovakia, a country that has demonstrated extraordinary economic strength and growth capacity. We share a strong manufacturing vocation and a strong propensity to export. And it is to consolidate these ties that we are strengthening cooperation between our universities,' he said. Barbara Cimmino, Vice President for Export and Investment Attraction of Confindustria. "If Italy is a natural bridge to the Mediterranean, Slovakia, with its strategic location in the heart of Central and Eastern Europe, is an essential hub for the pan-European corridors that cross the continent and for global trade, particularly to Eastern markets. But there's more,' Cimmino continued, 'According to estimates by the Centro Studi Confindustria, Slovakia ranks fourth out of 17 Central and Eastern European countries in terms of development potential for Italian exports. Italian exports, in fact, could grow by a further EUR 1.87 billion compared to EUR 4 billion in 2023 and EUR 2.8 billion in 2024'.

Slovakia is characterised by economic stability, a strategic location and a business-friendly environment. Eurozone membership provides further stability, while the promotion of innovation and support for key industries make it an ideal destination for quality investments. The industrial sector accounts for 35% of the country's GDP, with automotive, machinery, electronics, chemicals and pharmaceuticals as the main pillars. Trade relations between the two countries are strong: Italy is Slovakia's seventh largest customer and eighth largest supplier, with an interchange of around EUR 8.7 billion in 2023. Italian exports mainly include metal products, machinery, transport equipment, electrical appliances, textiles and clothing. In addition, Slovakia is a potential logistics hub for Ukraine, offering new partnership opportunities for the future reconstruction of the country.