Slovakian State Secretary of the Ministry of Foreign Affairs Diana Strofova visits UAE Ministry of Foreign Trade

Both ministers discussed ways to enhance strategic and economic cooperation and sustain the terms and goals of trade agreements made previously between their two countries. State Secretary Strofova was accompanied by Peter Zsoldos, Slovak Ambassador to the Gulf and the Middle East, and Peter Bator, Director Office of the State Secretary.

The UAE remains Slovakia's main trading partner in the Middle East, and until 2004 the Slovak Republic maintained an embassy in the capital city of Abu Dhabi. A recent visit by Slovak officials to the Emirates opened up the possibility of reactivating a diplomatic branch to further strengthen excellent trade, political and economic relations between the two states. As a member of the European Union (EU) since 2004, Slovakia is poised to become an even more important economic ally of the UAE should a long-awaited Free Trade Agreement between the broader Gulf Cooperation Council and the EU be signed.

H.E. Sheikha Lubna said:

"The UAE is home to various productive Slovak economic, trade, investment, and industry interests, which is why we want to reciprocate and explore the country's business and investment environments as well. Strategic partnerships in areas such as infrastructure and renewable energy will be of mutual benefit and allow us to gain ground in our quest for sustainable growth. Minister Strofova's visit bodes well for the future of UAE-Slovak relations and will definitely increase our bilateral trade and economic activities."

"I would also like to invite Slovekian investors to participate in the various high-profile international exhibitions held regularly in the UAE and take advantage of the excellent networking opportunities provided by these events," added H.E. Sheikha Lubna.

"We are truly pleased with the results of today's discussions, which bode well for the future of our relations with the UAE. We would like to call on UAE investors to explore further the investment opportunities our country offers, particularly in the metal, real estate, food, wood, automobile and pharmaceutical industries,"

concluded State Secretary Strofova.

A previous study presented Slovakia as a Central European country that is benefiting significantly from globalization and advanced export and import transactions in terms of the internationalization of enterprises. The UAE offers a perfect platform for Slovakia to expand its Arab and global presence, as the Emirates was recently recognized as one of the top 30 trading nations by the World Trade Organization. The country offers numerous trade and investment incentives, such as free trade zones that feature high-end facilities, tax-free operations and a business-friendly regulatory environment.

The UAE is also geographically positioned in the middle of important Eastern and Western trade routes and maintains an aggressive economic diversification strategy that will enable non-hydrocarbon businesses to generate 70% of the national revenue by 2010.