THE ECONOMY Ministry has prepared a draft Strategy of External Economic Relations of the Slovak Republic for 2014-2020. The Council of the Slovak Cabinet to Support Exports and Investment discussed the draft in November, and the cabinet is expected to deal with it later in February, Economy Ministry officials told The Slovak Spectator.

The strategy consists of nine parts while its main objective is to stabilise the country’s international position and then use this position as a starting point for expansion and to push the country’s economic interests abroad. The end goal, according to the strategy, is to support the economic and social development of Slovakia and improve standards of living.

In terms of supporting exports, the strategy calls for increasing exports and exporters, as well as securing stable supplies of strategic goods.

The ministry is targeting what it sees as current weak spots in Slovakia’s foreign trade, including an increase in the share of exports sent to markets outside Europe, diversification of the commodity structure of exports, the increase of the share of exports of small and medium-sized companies and the increase of the share of exports of services, including tourism.