Slovakia and the eu
What EU membership brings to Slovakia
In 2004, the Slovak Republic became a fully-fledged member of the EU, concluding a process of integration that had spanned over 10 years. Slovakia’s EU membership has opened up new economic opportunities for the country whilst bringing free movement of goods, services, capital and people. The EU’s single internal market has given us the opportunity to work, run a business, travel and live in another EU Member State. At the same time, Slovakia’s exports to EU Member States have increased significantly.
Improvements were made in the areas of business opportunities, public awareness and consumer rights. Slovakia opened itself up to foreign direct investment. Fellow EU member countries now account for around 90 percent of foreign direct investment in Slovakia. In keeping with the common European rules, the Slovak body of laws also changed with Slovakia’s accession to the EU.
The joining of the Schengen Area in 2007 was another milestone in Slovakia’s EU membership. It resulted in a significant simplification of cross-border movement, since 94 percent of Slovakia’s borders are internal EU borders. Thanks to EU membership, Slovakia also participates in the Common Foreign and Security Policy, which strengthens the country’s position on the international political landscape.
A significant change came with the adoption of the euro in 2009. The common European currency enhances overall economic stability, reduces exchange costs and creates favourable conditions for long-term business decisions.
Being an EU member also brings the right to be fully engaged in the Union’s decision-making, particularly via the Council of the EU. In return, Slovakia has transferred some of its powers to the EU institutions. For instance, it has ceded some powers in trade and agricultural policies, as well as in environmental and technical standards.
Through programmes such as Comenius, Socrates and Erasmus+, Slovakia has obtained new opportunities to improve the quality of education and training for young people.
As far as the area of transport is concerned, the possibility to finance projects with EU funds is the most palpable benefit arising from EU membership. For example, a total of EUR 3.16 billion was earmarked for Slovakia from the ‘Transport’ operational programme during the 2007–2013 programming period. This concerns the construction of motorways, as well as the modernisation of railway infrastructure and the renewal of rolling stock. Ensuring that EU funds are absorbed more effectively is a central challenge facing Slovakia.