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20 years of Czech – German Business Cooperation

Success Story in Bullet Point

1993:  The Czech Republic was born from the split of Czechoslovakia

The country has been the most attractive country in the CEE region for investors since 2006 (according to the AHK, Deutsche Auslandshandelskammern).

It has the enjoyed the highest level of German direct investment in the region (around 20 EUR bln), the lowest unemployment and the lowest inflation, the second highest GDP per capita and the third highest average gross earning (of employees).

The comparison of population (10 mln) with some countries is very simple: = ¼ of Poland, it is the same as in Hungary and it is 2x more then in Slovakia.

Trade exchange with Germany:

Increased 9x = from 7 EUR bln in 1993 to around 66 EUR bln in 2012 with an average annual growth of 13%. Czechia is for Germany the 12th biggest trade exchange partner (before e.g. Japan, India or Brazil) and compared per capita it is ranked nr. 5!

Around 4 000 German companies are present in Czechia. Volkswagen (Škoda Auto) is the best known examples followed by other well know names such as Siemens or Bosch and by hundreds and thousands of SME companies. At first the foreign companies benefited from the lower labour cost and a rather simple assembly line type of work and the manual work was the most common.

The development and progress lead to a higher part of more sophisticated jobs and as far as the research and development, design and other high-tech jobs. The high quality level of the Czech business environment is one of the reasons that German investors stay in the country. Other reasons are eg. the fact that the two countries are neighbours (from Prague one can be by car in 3 hours in Munich or Nurnberg or Berlin), the very similar cultural environment and mentality.

EU membership of the Czech Republic has boosted the mutual cooperation in the last decade.

Czech investments in Germany are the latest news.

Adminex is a part of the story.

Adminex is active across the spectrum – supporting the German suppliers of Škoda Auto in Czechia as well as helping other smaller German companies to enter the Czech market. At the same time we are helping Czech and Slovak companies to implement projects in Germany (such as Lindner in building sector). Adminex across the boarder team is well positioned to assist German clients expanding not only in the Czech Republic but in the whole CEE region.

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