Signing of a memorandum on economic cooperation between Slovakia and Türkiye

Signing of a memorandum on economic cooperation between Slovakia and Türkiye

On Tuesday, February 20th, 2024, the Deputy Prime Minister and Minister of Economy of the Slovak Republic, Denisa Sakova, together with the Minister of Trade of the Republic of Türkiye, Ömer Bolat, signed the document establishing the Joint Economic and Trade Committee with the aim of intensifying mutual economic cooperation between the two countries.

The Slovak Investment and Trade Development Agency (SARIO) organized a Slovak-Turkish business forum in cooperation with the Ministry of Economy of the Slovak Republic. The forum was attended by more than twenty Turkish and sixty Slovak companies from the field of energy, engineering and automotive, information and communication technologies, logistics, transport and construction. During the event, more than one hundred and fifty business meetings were planned and implemented.

At the same time, on this occasion, the SARIO agency renewed a memorandum of understanding with the partner organization "Foreign Economic Relations Board of Türkiye" (DEIK), with which it had already concluded the first memorandum in 2015. The signing of the memorandum was carried out by SARIO DG Robert Šimončič with his counterpart Nail Olpak , the President of DEIK.

Since the signing of the first memorandum with DEIK, SARIO agency has supported the establishment of five investment projects from Türkiye in Slovakia worth 23 million euros (450 job vacancies). SARIO also ensured the participation of small and medium-sized enterprises at the Automechanika automotive fair in Istanbul and prepared a business mission to Türkiye.

The establishment of the bilateral economic and trade committee itself and the signing of the memorandum between SARIO and DEIK create a prerequisite and a framework for deepening mutual cooperation and strengthening the opportunities for Slovak businessmen to apply on the Turkish market.

"Supporting the export activities of Slovak companies is a very important part of the activities of the Slovak Investment and Trade Development of Agency, whereas Türkiye represents great potential for the further development of mutual business cooperation. In addition, through Turkish partners, Slovak companies can more easily approach the markets of Central Asia. I am very happy that Slovak companies are reflecting on this business potential and today's business forum aroused a great response among them", concluded SARIO General Director Róbert Šimončič.