On 17 July 2018, L. Parízek, State Secretary of the Ministry of Foreign and European Affairs of the Slovak Republic, officially delivered to the depositary of the Ministry of Foreign Affairs of the Russian Federation the ratified texts of the Agreement on the Establishment of the International Investment Bank and the Agreement Concerning the Organization and Activities of the International Bank for Economic Co-operation (IBEC). For the IIB, ratification by Slovakia signifies the completion of the domestic procedures and entry into force of the Bank’s new statutory documents. The IBEC expects the completion of ratification procedures in the Bank’s two remaining member countries.
IBEC Chairman D. Ivanov presented to the Slovak delegation the results of the recent reform of the bank and financial instruments for the implementation of business projects with Slovak companies.
By ratifying the IBEC’s and the IIB’s statutory documents, Slovakia significantly augmented the legal framework, obtaining access to enhanced business and investment opportunities under the aegis of international financial organizations. “The economic and trade cooperation between Slovakia and the Russian Federation is not keeping up with the opportunities of both countries. The stronger economic growth opens up new opportunities for Slovak companies in energy, electric engineering, mechanical engineering, food industry, and certification”, said L. Parízek, evaluating this significant milestone in the relations.