Slovak prime minister sees vast opportunities at expo, optimistic about deepening China-Slovakia ties

Slovak Prime Minister Robert Fico hails the ongoing 7th China International Import Expo (CIIE) in Shanghai as a vital platform to explore vast business prospects and further strengthen economic and trade relations between China and Slovakia.

The CIIE is the world's first national-level exposition dedicated to imports. Running from November 5 to 10 under the theme of "New Era, Shared Future," the 7th CIIE has brought together exhibitors from 152 countries, regions and international organizations to participate in its country exhibition and business exhibition.

A total of 77 countries and international organizations are participating in the country exhibition, including Slovakia making its debut at the event, which serves as an important platform for showcasing the comprehensive image of various countries and opportunities in trade and investment. Slovakia's participation in the expo comes amidst the country's strengthening of economic ties with China, marked by three consecutive years of bilateral trade exceeding 10 billion U.S. dollars.

Slovakia currently stands as China's fourth-largest trading partner and largest source of imports in Central and Eastern Europe. Additionally, Chinese investments in Slovakia have surpassed 600 million U.S. dollars, creating over 5,000 jobs in the country, according to incomplete statistics.

"Our two countries differ significantly in size. Slovakia is a small nation with a population of 5.5 million and limited land area, incomparable to China's vastness. However, I deeply value the mutual respect demonstrated in our cooperation. As equal partners, we collaborate exceptionally well and explore various cooperative opportunities. Participating in an expo like today's CIIE, especially with the significant presence of numerous enterprises, undoubtedly presents tremendous business prospects for the Slovak delegation. We must strive to identify opportunities that allow our Slovak entrepreneurs to engage more extensively in activities within China," said Fico in an interview with China Media Group (CMG) on Tuesday on the sidelines of the event.

Moreover, Fico also expressed confidence in the continued growth of bilateral economic and trade cooperation at the China-Slovakia Economic and Trade Forum on November 1 in Beijing, saying the forum itself marks an important step forward in China-Slovakia relations and economic and trade cooperation.

Slovak prime minister sees vast opportunities at expo, optimistic about deepening China-Slovakia ties

The European Central Bank (ECB) announced on Thursday that it would slash key interest rates by 25 basis points in a bid to wind down the restrictive monetary policy.

Effective from March 12, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.50 percent, 2.65 percent and 2.90 percent respectively, said the central bank in a statement.

The disinflation process is well on track, with headline inflation averaging 2.3 percent in 2025, 1.9 percent in 2026 and 2.0 percent in 2027, the ECB said.

The decision to keep on cutting rates came at a time when the economy in the eurozone is facing increasing uncertainties.

In its latest edition of the staff projections on Thursday, the ECB lowered its forecast for economic growth in the eurozone to 0.9 percent for 2025, 1.2 percent for 2026 and 1.3 percent for 2027.

This marks a downward revision from the ECB's forecast in December last year, which had projected 1.1 percent growth in 2025 and 1.4 percent in 2026, while the 2027 outlook remains unchanged.

The ECB attributed the weaker growth outlook for 2025 and 2026 to declining exports and sluggish investment, citing high trade policy uncertainty and broader economic instability as key factors.

ECB cuts interest rates by 25 basis points