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German Chamber: Germany Has Invested €3.5 billion in Slovakia
Thursday 20 May 2010 Zoom in | Print page
Bratislava, May 20 (TASR) - Germany has to date invested more than €3.5 billion in Slovakia, said representatives of the Slovak-German Chamber of Commerce and Industry at its 5th annual general meeting on Wednesday.
"There are 400-odd German businesses active in Slovakia, which have created 80,000 jobs," said president Erich Feix, naming car production, mechanical- and electrical-engineering as the main focuses of business.
Germany has made a significant contribution to Slovakia's economic success with its businesses being the biggest buyer of Slovak products, said Feix.
According to him, Slovakia ranks 23rd in Germany's foreign trade list, leaving behind such markets as Romania, Finland, Canada and India. The bilateral trade balance between the two countries is more or less equal, with Slovak exports having a slight advantage.
The Chamber was formed in 2005 in Bratislava in order to represent the interests of its 300 members, which employ 74,000 people and achieve a combined annual turnover of €15 billion. The body supports SMEs in their efforts to enter the market.
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