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4.-7.10. 2022

International Engineering Fair

Minister Mládek at the Engineering Fair


"Industry is the backbone of the Czech economy and engineering is the backbone of the Czech industry." Even such brief statement of Minister of Industry and Trade Jan Mládek about the importance of the engineering industry hinted why he has been present at the International Engineering Fair in Brno since this morning. "I am pleased to see that there are a lot of products with high added value," he said at a briefing with reporters after the first half-day, which he spent among engineering companies.

The current issues that he spoke about with representatives of Czech companies included EU-Russia relations and the impact of economic sanctions. "It is one of the problems that companies are naturally interested in. It has been confirmed to me that there is rather some fear of the future in case of engineering, as companies are fulfilling existing contracts, but of course they worry about what will be happening next year. So far, the sanctions fell the hardest on part of the food industry, such as cheese production, not the engineering industry," said Minister Mládek.

He also pointed out a positive message for Czech producers: a possibility of cooperation with Russian regions. "Last week, the President of Tatarstan visited the Czech Republic, and was also received by President Zeman. There is great room for cooperation at the regional level and we will try to go this way in the near future," said Minister Mládek. He sees good prospects particularly in cooperation with those republics of the Russian Federation, which are net contributors to the federal budget, and therefore offer more room for contracts. "Tatarstan is an example of a region that has fairly substantial possibilities because they use revenues from the oil industry to develop engineering. They are a very natural partner," said Minister Mládek.

The Minister also responded to the question of whether the restriction of access of Russian companies to the international financial markets brings problems with payment terms. He said that he had not encountered such problems yet, but at the same time he added: "Of course we also have these signals. While they do not have European funds in Russia, they have government funds to support the modernization of companies. If the government does not have the money for subsidies, then there will be of course lower demand of the private sector for machines that are also supplied from the Czech Republic."

Minister Mládek also briefly confirmed that nuclear energy and the extension of the Temelín nuclear power plant is not the issue of the day at the Engineering Fair. "I would like to note that we are only at the stage when officials of the Ministry of Industry and Trade and the Ministry of Finance together with experts on nuclear energy are only preparing material for the government, which should be submitted at the end of the year and which will tell us whether and how the Czech Republic would develop the nuclear energy sector. There is no room for any particular negotiations at the moment."

Date: 29 Sep 2014 13:00:00

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