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Indo-Slovak Economic Partnership on the Rise

by Kanchi Batra - 20 February, 2025, 12:00 694 Views 0 Comment

H.E. Mr. Robert Maxian, Ambassador of the Slovak Republic to India, hosted a Cocktail Reception on 19 February 2025, at the premises of the Slovak Embassy in New Delhi. The event marked the 12th Session of the Indo-Slovak Joint Economic Committee (JEC) and celebrated the participation of the Slovak business delegation at the 26th International Engineering & Technology Fair (IETF) in New Delhi.

The evening brought together prominent Indian business leaders and the Slovak business delegation, creating an engaging platform for fostering bilateral trade, investment, and technological collaboration. The Indo-Slovak Joint Economic Committee, a key mechanism for strengthening economic relations, plays a vital role in enhancing trade and industrial partnerships between the two nations.

In his address, Ambassador Maxian underscored the progress in trade relations between the two nations. “Earlier today at FICCI, I had the privilege of sharing an important milestone: our bilateral trade crossed 1.2 billion euros last year—a historic achievement for Indo-Slovak business relations,” he stated. However, he was quick to note that this is merely the beginning of an ambitious roadmap aimed at expanding cooperation in key sectors, including automotives, IT, cybersecurity, innovation, and water management.

Slovakia’s engagement with India extends beyond commerce, with a firm commitment to investment and job creation“As we welcome Slovak companies to India, we also encourage them to invest in the Indian market,” the Ambassador remarked. He highlighted Slovakia’s role in supporting employment opportunities in India, particularly in biofuels and railways in Uttar Pradesh, West Bengal, and Odisha. According to him, these investments are already generating thousands of jobs, strengthening Slovakia’s long-term economic partnership with India.

Recognising India’s potential, Ambassador Maxian stressed the importance of long-term vision and commitment for Slovak businesses looking to establish themselves in the Indian market. “India is a dynamic and promising market, but it also demands a long-term vision and commitment. I have advised Slovak companies that success in India does not happen overnight. It requires foresight, patience, and strong local partnerships.” He urged companies to focus on trust-building, collaboration, and sustained engagement as the key to achieving mutual success.

The Ambassador also called for deeper cooperation between the two countries. “Together, by fostering deeper cooperation and investing in each other’s potential, we can shape a more prosperous and innovative future. Let us continue to strengthen our economic ties and take the Indo-Slovak partnership to new heights,” he stated.

The Slovak business delegation, comprising representatives from leading companies across industries, expressed enthusiasm about exploring joint ventures, trade opportunities, and investment prospects in India. The event also provided a platform for networking, knowledge-sharing, and discussions on strategic economic cooperation.

The 26th International Engineering & Technology Fair, where Slovakia was a participating country, served as a key venue for showcasing cutting-edge Slovak technology and innovation to the Indian market.

Kanchi Batra
Kanchi Batra is the Managing Editor of The Diplomatist.
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