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Czech Republic

The Czech Republic belongs among medium-sized countries (about 10 million inhabitants) of the European Union, with developed market economy. Its economy is among the most prosperous in comparison to the other post-communistic countries of East and Central Europe. The Czech economy benefits from the favorable geographic position in Central Europe, is strongly pro-export and its foreign trade is mostly oriented to the neighboring states of the European Union. The Czech Republic (CR) is a member of the European Union since 2004 and is also part of the Schengen area. Thanks to a stable economy, CR is on the way to join the Eurozone. CR has become attractive for foreign investment in traditional and new advanced industries thanks to the presence of relatively cheap and especially high-skilled labor. Automotive and glass industry, metallurgy, electrical engineering and brewing belong among the most advanced and traditional industry in the CR.

source:CIA The World Factbook
Ministry of Industry and Trade of the Czech Republic


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