The Embassy of the Czech Republic in Ottawa, together with the London Economic Development Corporation, the Consulate of Toronto and other Czech Government agencies in North America held a successfully attended business, investment and tourism presentation entitled “Destination Czech Republic” on October 16th 2008 at the London Convention Centre in London Ontario. Special thanks is extended to the London Economic Development Corporation for the promotion and organization of this event. This half-day seminar showcased the Czech Republic’s potential as a viable and lucrative trading and investment partner, as a well as a beautiful tourist destination.
The Czech Republic is a dynamic and modern country in the heart of Europe and has been a member of the European Union since 2004. It is a country steeped in a rich and diverse cultural heritage, where age-old traditions complement life of the 21st century. The Czech Republic offers potential in so many more sectors than previously imagined. The Czech Republic is firmly integrated into many international organizations; it was the first post-communist country admitted into the OECD, and is now a member of the EU, NATO, the WTO, the IMF and the EBRD.
The European Union legislation was fully adopted during the years of preparation for the EU accession. Commercial, accounting and bankruptcy laws are compatible with western standards. Membership of the European Union also has meant an integration into a single market. For a Canadian company settled in the Czech Republic, this means that, without any additional conditions or costs, they may operate in all the 26 remaining markets of European Union member states. With the entry into the European Union, the Czech Republic became part of the largest free-trade zone in the world, which improved both the conditions for trading and the physical movement of goods. The main trade partners of the Czech Republic are the other countries of European Union, but it is also trying to extend and deepen the economic and trade relations with other countries of the world, including Canada.
Canada currently plays an important part in the external economic relations of the Czech Republic; not as yet because of the volume of trade (total trade volume of $ 700 mil. in 2007), but rather as a source of high-technology, know-how, foreign direct investment, and also as an important market for Czech industrial products. The potential, however, is far from being exploited sufficiently in Canada. And specifically, Western Ontario, and as the global economies change and fluctuate in these difficult times, it only stands to reason that companies would wish to diversify and expand their markets. This was the principal reason Destination Czech Republic, was presented in London, one of the business centres of Ontario and Canada’s 10th largest city.
The Czech Republic with its very diverse economy offers many opportunities for cooperation. It is well positioned, in the true centre of Europe, for investment, back-up sourcing and/or business support services. With its high intellectual capital, good language skills, geographical advantages, cultural affinity to Western Europe and North America, a feature-rich telecommunications infrastructure, top class office space and an investment climate conducive to growth, the country offers an easy and comprehensive solution, available at a very competitive cost. The Czech Republic has won the reputation as an important, reliable and promising partner in international trade. In addition it is also an extremely vibrant place, one in which it is very exciting to do business, invest or just simply find back-up sourcing. The list of international companies that have decided to make their second home in the Czech Republic is becoming increasingly long and the Czech Republic looks forward to opening more doors in the near future.
Did you know?
- English words of Czech origin include dollar, howitzer, robot, calash, pram, and pistol.
- the term "dollar" goes back to 1519, to the western region of the present-day Czech Republic (town of Joachimsthal), where the owner of several silver mines minted his own coins and called them "Joachimsthaler Groschen," or "Thaler" for short.
- the word "robot," meaning a man-made mechanical being, was coined by the Czech playwright Karel Capek in his play "R.U.R." (Rossum's Universal Robots).
- Prague's Charles University (founded in 1348) was the first university in Central Europe, and Prague's Technical University was the first of its kind in the world.
- the Good King Wenceslas of the English Christmas Carol was Czech and is the national Czech patron.
- contact lenses were invented by the Czech scientist Otto Wichterle.
- Czech streetcars can be found in 95 cities around the world, including Prague, Berlin, Moscow, Sarajevo, Oslo, Cairo, Wroclaw and Portland.
- Antonin Dvorak, the composer of the "New World Symphony," was Czech.
- Oscar winning director Milos Forman ( "One flew over the Cuckoo's Nest," "Hair," "Amadeus," "The People vs. Larry Flynt," "Man on the Moon" and "Goya's Ghosts") is Czech-born, and graduated from the renowned Prague Film Academy.
- there are currently more than 70 Czech NHL players starring in virtually all NHL teams (for example Jagr, Hasek, Kaberle, Lang, Hejduk, Elias, Havlat, Vokoun, Bulis, Hemsky, Vyborny, Holik, Prospal, Sykora, Kotalik, Bonk, Straka, Kubina, Spacek, Erat, Prucha and many others).
- the term "pilsner," used generally for a light lager beer, originated in Pilsen, Czech Republic, where the world-famous beer Pilsner-Urquell was first brewed in the 13th century.
- the term "Bohemian" came from a Latin word, Boia, the name of the barbaric Celtic/German tribe that once lived in what is today Czech Republic.
- first electrified theater in the world was the Municipal Theatre in Brno, Czech Republic. The electrification was realized in 1882 according to the plans of Thomas Edison, who also helped with the installation.
- the Czech team of the Technical University in Liberec were the first in the world to create a machine for the industrial production of nanofibres. Nanofibres are 1,000 times thinner than a human hair and will be used in filtration systems, for hygienic purposes and for sound absorption.
- the Czech company Gufex was the exclusive supplier of hockey pucks for the 2006 Olympic Games in Turin and the 2006 World Championship in Latvia, as well as for the previous Winter Olympics in Nagano and Salt Lake City.
