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Arab market opening to Slovak investors

The Arabian Gulf area offers many opportunities for Slovak businesses to export their products and technologies, Sheikh Khalifa Ahmed Khalifa Al Mannai, a representative of the Bahrain Chamber of Commerce and Industry, said after the Slovak-Arabic export forum at the Economy Ministry on November 11.

The Arabian Gulf area offers many opportunities for Slovak businesses to export their products and technologies, Sheikh Khalifa Ahmed Khalifa Al Mannai, a representative of the Bahrain Chamber of Commerce and Industry, said after the Slovak-Arabic export forum at the Economy Ministry on November 11.

"I came to Slovakia to meet Slovak businessmen face to face and promote the opportunities of our open market," Al Mannai said.

The forum provided Slovak entrepreneurs with basic information about countries in the Arabian Gulf – and Bahrain is the gateway, said Juraj Šumichrast, director of the foreign trade sector of Slovak Investment and Trade Development Agency (SARIO).

"Bilateral negotiations take place at exhibitions and fairs in this area," he said, adding that in January there will be a food fair and an engineering exposition.

SARIO has stated that there are no Slovak companies established in this area, as gaining a contract may sometimes take up to two years.

"Arab clients are attractive, because they have money and aren't too spoilt. By the time they make a decision and look into the calculations, the whole world has shown up and Slovak marketing sometimes fails," Šumichrast said.

Štefan Veselovský, Deputy General Manager of Eximbanka, said that the bank was prepared to support Slovak entreprenuers, who he believes should focus on the Arabian Gulf market – Bahrain, Saudi Arabia, Qatar, United Arab Emirates, Kuwait – in order to stave off the impact of the financial crisis. TASR

Compiled by Zuzana Vilikovská from press reports
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