Bratislava [Slovakia], June 16 (ANI): India and Slovakia on Monday agreed to expand bilateral economic cooperation between the two countries by strengthening the role of the India-Slovakia Joint Economic Committee (JEC) to identify and promote high-potential areas of collaboration.

According to the India-Slovakia Joint Statement issued following Prime Minister Narendra Modi's meeting with Slovakian Prime Minister Robert Fico, the two leaders committed to enhancing trade and investment ties across several sectors, including automotive, electronics and advanced manufacturing.

'The leaders agreed to further strengthen the role of the India-Slovakia Joint Economic Committee in identifying and promoting high-potential areas of economic cooperation between the two countries,' the joint statement read.

The two sides also agreed to explore avenues to significantly increase bilateral trade and two-way investment by leveraging Slovakia's established industrial ecosystem and India's scale, innovation ecosystem and technological capabilities.

'They also committed to exploring avenues to significantly enhance bilateral trade and two-way investment across sectors such as automotive, electronics and other advanced manufacturing industries, leveraging Slovakia's well-developed industrial ecosystem and India's scale, innovation ecosystem and technological capabilities, with a particular focus on high-value-added collaboration,' the statement noted.

Welcoming the conclusion of negotiations on the India-European Union Free Trade Agreement (FTA) in January 2026 and the new Joint India-EU Comprehensive Strategic Agenda, the leaders observed that the agreement would unlock fresh opportunities for trade and investment.

'Welcoming the conclusion of negotiations on the India-EU Free Trade Agreement in January 2026 and the new Joint India-EU Comprehensive Strategic Agenda, the two leaders noted that the FTA will unlock new opportunities for trade and investment and called for its early signing and timely implementation to realise the full potential of trade and investment cooperation by diversifying critical value chains and opening new markets,' the statement said.

Recognising connectivity as a strategic pillar of the bilateral partnership, India and Slovakia underlined the importance of promoting joint ventures, technology transfer, innovation and skills development in the automotive and railway sectors.

The two countries also highlighted the potential of Slovakia's position as a Central European transport hub and India's large-scale manufacturing capabilities to boost trade, investment and connectivity.

In addition, both sides encouraged exploring the possibility of direct air connectivity between India and Slovakia to facilitate growing economic, business and people-to-people exchanges.

'They further noted the potential of Slovakia's position as a Central European transport hub and India's large-scale manufacturing capabilities to boost trade, investment and connectivity. They also encouraged exploring direct air connectivity between India and Slovakia to facilitate growing economic, business and people-to-people exchanges,' the statement read.

The agreements reflect the growing momentum in India-Slovakia ties, which come as part of PM Modi's state visit to Slovakia, the first by an Indian Prime Minister since the European country's independence in 1993, which saw the two nations elevate their relationship to a Comprehensive Partnership and expand cooperation across several sectors, including defence, technology, trade and innovation. (ANI)