Bratislava [Slovakia], June 15 (ANI): Slovak Prime Minister Robert Fico on Monday strongly endorsed the recently concluded India-European Free Trade Agreement (FTA), calling it one of the most 'ambitious' trade deals ever negotiated and pledging Slovakia's full support for its swift implementation.

Speaking during the India-Slovakia Exchange of MoUs and joint press statements with Prime Minister Narendra Modi in Bratislava, Fico said the agreement would create significant economic opportunities for both sides and bring tangible benefits to Slovakia's export-oriented industries.

'Slovakia welcomes the fact that an agreement was reached between the EU and India when it comes to free trade. It's one of the most ambitious free trade agreements which have ever been signed, and Slovakia is a country which not only welcomes this agreement but will take all necessary and practical steps to ensure that this agreement is implemented as fast as possible,' Fico said.

Highlighting the importance of the automotive sector to the Slovak economy, Fico pointed to reduced tariffs on automobiles as a major advantage of the deal.

'If someone asks us a question: why do we welcome this agreement? I will tell you one factor. We have a high concentration of car production in Slovakia. And this is one of the areas where an agreement was reached on 10 per cent duties. So this agreement is beneficial for Slovakia,' he noted.

The Slovak leader also extended an open invitation to Indian businesses to invest in Slovakia, stressing the country's political stability, business-friendly environment and commitment to supporting foreign investors.

'Distinguished Prime Minister, I will repeat the invitation for investors from India to come to Slovakia. You have companies, reference companies, which can confirm the fact that even though we have a very lively democratic system, we are a stable country which can provide investors all over the world with favourable conditions,' Fico said.

He further expressed interest in expanding cooperation through public-private partnerships (PPP), saying such initiatives would be warmly welcomed by his government.

'Similarly, as you said in our conversation, I like PPP projects, so the public-private partnerships. So initiatives like that will be welcome,' he added.

Meanwhile, Prime Minister Narendra Modi thanked his Slovakian counterpart, Robert Fico, for his support in finalising the historic India-European Free Trade Agreement (FTA).

Addressing a joint press meeting in Slovakia's capital city Bratislava, PM Modi affirmed committment to ensuring early implementation of the FTA in order to help the two countries, their industries, startups and traders, avail 'maximum benefits.'

'I express special gratitude to the Prime Minister of Slovakia's support in finalising the India-EU FTA. We will work towards its early implementation so that industries, startups, and traders from both countries can reap maximum benefits,' PM Modi said.

Furthermore, PM Modi hailed the growth in bilateral trade and economic cooperation, reflecting on the potential for further growth. He stated that the leaders discussed combining their strengths in various fields and redirecting their cooperation.

'Today, the Prime Minister and I discussed in detail how to give a new direction and new energy to our cooperation. The progress in our bilateral trade and economic cooperation is a matter of satisfaction for us. But our potential is vast. Our aspirations are even greater. Automobiles, railways, advanced manufacturing, and green technology are areas of special interest to us. Today, we combined our strengths in all these areas and took several important decisions for the benefit of the people of both countries,' he said. (ANI)