Slovakia and Moldova trip: Trade Mission doubly successful

10/05/2017

The Monaco Economic Board (MEB) and its Monaco Chamber of Commerce division took in two destinations on a Trade Mission to Bratislava (Slovakia) then Chisinau (Moldova). It was accompanying Official Visits by HSH Prince Albert II and took place 1st to 5 May. These two young nations share the same desire to develop, and some 20 Monegasque entrepreneurs seized the chance to look for new opportunities.

Slovakia - Bratislava

Day two, 2 May, was the main event for the first stage, with a Business Forum during which Monaco and Slovakia made presentations on their respective countries. HSH Prince Albert II and HE Andrej Kiska, President of the Slovak Republic, then took the floor before a cooperation agreement was signed between the MEB and Slovak Chamber of Commerce and Industry. A significant occasion for MEB Chairman Michel Dotta whose counterpart Peter Mikok is also President of the World Federation of Chambers of Commerce, the International Chamber of Commerce (ICC) division which federates 12,000 Chambers worldwide.

After a networking buffet lunch as an appetizer, some 100 Slovak companies met the 24 members of the Monegasque delegation in the all-important B2B sessions that are a key feature of these Trade Missions. Sectors represented were mainly in corporate services, but also legal advice, financial engineering, banking, real estate, tourism, textiles and food trading, and ITC (Information and Communications Technology). Contacts made at these sessions are usually an excellent spring-board to further meetings.

Slovakia has convincing arguments for potential investors that includes a growth rate among the highest in the EU; a contained deficit; low unemployment; and an educated workforce ready to take on new projects. The country has already attracted the big European car brands to become the largest producer per capita. Cars of all brands, notably prestigious makes like Porsche Cayenne, some Bentley and Jaguar models are from Slovakian factories.

H.E. M.Andrej Kiska, President of the Republic of Slovakia and H.S.H. Prince Albert II with from l. to r. Michel Dotta, Chairman of the MEB and Peter Mihok, President of the Slovak Chamber of Commerce and Industry.

Moldova - Chisinau

For the second stage of the trip, Moldova’s reception mirrored that of Slovakia. On 4 May, a well-organised Business Forum was an opportunity for Monegasque companies to learn more about how to do business in this country at the gateway to the EU. Two cooperation agreements were signed, with the Moldova Business People Association (MBPA) and Moldovan Investment and Export Promotion Organization, witnessed by HSH Prince Albert II, Prime Minister HE Pavel Filip, President of the Parliament HE Adrian Candu and other officials.

Around 200 Moldovan companies attended the B2B sessions, a sign of the country’s determination to move on. As MBPA President Vladimir Plahotniuc said: “Having been through a difficult period, economically and politically, Moldova is taking its destiny in hand.” This is evident in a raft of reforms to cut back bureaucratic red tape and foster entrepreneurship.

For the Monegasque delegation, the trip was a success: a packed programme taking in two countries they would not have visited as individuals allowed delegates to make contacts and benefit fully from Monaco Economic Board networks and the Sovereign’s Official Visits that act as a catalyst for opportunity.