The visit of Minister Waldemar Buda to Slovakia was linked to the Polish-Slovakian Business Forum held in Bratislava and organised in cooperation with the Embassy of the Republic of Poland in Bratislava and the Slovakian economic daily Hospodářské Noviny. The patronage over the event was held by the Minister of Economic Development and Technology and the Slovakian Ministry of Economy.

During the visit, Minister Waldemar Buda met with the Deputy Prime Minister and the Minister of Economy of Slovakia Richard Sulik. Both Ministers attended the debates of the Polish – Slovakian Business Forum. Minister Buda held also the meeting with the representatives of the leading Polish investors in Slovakia.

In the face of the Russian invasion to Ukraine, Poland and Slovakia should enter the new level of strengthening the economic cooperation to ensure security of supplies of the energy resources

– said Minister Waldemar Buda during the debates of the Polish – Slovakian Forum.

Impact of war in Ukraine on the energy security of Poland and Slovakia

Energy security of Poland and Slovakia as well as of the Visegrad Group states and the Three Seas Initiative was one of the highlights of the Thursday visit of Minister Buda to Bratislava. The Head of MEDT emphasised the role of European solidarity and the aim to make the European Union economies independent from the supplies of Russian energy resources.

Severing Russia from profits on sales of its resources is a way to suppress the geopolitical appetites of this state

– he stressed.

The Minister of Economic Development and Technology pointed out that the war in Ukraine marks the time to introduce the cooperation of the Central and Eastern Europe states into the new level of strengthening the trade and investment relations. In this context, Minister Buda referred also to participation in the recovery of Ukraine.

We have a great political time to boost our economic cooperation. The Russian invasion to Ukraine has united us and allowed strengthening our relations in all areas

– said Waldemar Buda.

Making Polish economy independent from the Russian energy resources

Minister Buda informed Minister Sulik that in context of gas Poland has repeatedly pointed out at the risks from subordinating the supplies of energy resources from a single entity and the need to take preventive measures.  

We have developed the projects of diversifying the natural gas supplies (LNG terminal in Świnoujście, Baltic Pipe) and taken the measures to secure the high stock levels (by mandatory gas reserves). Thanks to these actions, Poland need not fear the negative consequences of sudden cut-off of the Russian gas supplies.

Poland has been acting for securing the supplies of resources for years. In 2023 the extension of the LNG terminal in Świnoujście will be completed, while Baltic Pipe will be launched at the turn of October and November 2022

– informed the Head of MEDT.

Polish-Slovakian economic relations

Minister Waldemar Buda discussed the issue of enhancing the Polish – Slovakian trade relations with the Polish investors in Slovakia.

Poland is the leading trade partner of Slovakia – we are ranked third (following Germany and Czech) with 8 percent share in the Slovakian global export.

The value of the Polish – Slovakian goods exchange amounted to nearly EUR 13 billion in 2021, which means an increase by 23 percent. Our export grew by 21 percent and at the same time we have recorded a positive trade balance for Poland reaching approx. EUR 2 billion.

Data for the 1Q 2022 are also optimistic – the Polish – Slovakian trade amounted to EUR 3 754.2 million. The value of our export was EUR 2 249.2 million (increase by 34 percent y/y), while the value of import reached EUR 1 504.9 million (increase by 16 percent y/y). The positive balance for Poland was EUR 744.3 million.

Slovakia has been one of the pivotal markets for the Polish investors. It is the 14th largest recipient of our foreign investments gathered in such sectors of Slovakian economy as power energy, agriculture and food, IT and retail trade.

Minister Buda stressed also the need for development of road infrastructure connecting our countries, including by means of Via Carpatia.