Czech Republic and Republic of Macedonia will open doors for business cooperation

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Macedonian and Czech Prime Ministers, Nikola Gruevski and Bohuslav Sobotka respectively, sent message from business forum in Prague that doors for bilateral business cooperation are wide open, reports MIA from the Czech capital.

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Gruevski and Sobotka agreed there is enormous potential for bilateral business cooperation, whereas Prague’s political support to Macedonia should be reflected in the economic field.

The business forum on commercial and investment opportunities of Czech companies in Macedonia was attended by representatives of more than 50 companies.

-Czech Republic and Macedonia share friendly relations enabling us to focus on mutual economic activities, not only in the field of increasing commercial exchange, but also enhancing the form of cooperation, stressed Sobotka at the forum opening.

According to him, investments represent the key for enhancement of bilateral ties among companies on the long run.

“The turnover of Czech-Macedonian trade over the past decade has risen by 20 times, with a number of Czech companies successful on the Macedonian market and a potential for even larger mutual cooperation”, said Sobotka.

He added mutual commercial cooperation is dynamic because of the increase of Czech exports, but also imports from Macedonia.

“I am convinced Czech companies can be successful in many areas”, said Sobotka, highlighting gas distribution infrastructure and modernization of the traffic network.

Prime Minister Gruevski said Macedonia and the Czech Republic have a tradition of friendly relations, along with continual rise in political and economic relations.

“Trade exchange in the first half of 2014 amounted to US$ 77,6 million, whereas total exchange in 2013 was about US$ 120 million”, stressed Gruevski, adding there is room for further enhancement of economic relations, especially in the field of investments.

He briefed Czech businessmen that Macedonia has a stable political and macroeconomic environment.

“There is an inflation of about two percent, stable currency tied to the euro, and moderate public debt of 40 percent of GDP”, said Gruevski.

He referred to the Regulatory Guillotine project for cutting of thousands of bureaucratic procedures in cooperation with chambers of commerce and numerous companies.

“Macedonia offers the best tax package in Europe. We have low and flat taxes, personal income tax and profit tax of 10 percent, we have reduced health, pension and social insurance contributions by a third, customs fees are continually lowered”, added Gruevski.

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He also mentioned the low costs for energy, logistics and highly qualified workforce.

Gruevski emphasized the free economic zones, where investors enjoy special benefits, such as exemption from paying personal tax in the first ten years.

“An enormous number of companies from the entire world have chosen Macedonia as an investment destination, some even opening two capacities in the meantime”, he said.

He said recommendations by these companies represent a challenge for others, inviting Czech companies to invest in Macedonia.

The Prague business forum was organized in cooperation with the Czech Confederation of Industry and the country’s Ministry of Industry and Trade.

 

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