Slovakian Prime Minister Robert Fico Tuesday invited more Chinese entrepreneurs to invest in Slovakia, promising to provide favorable tax policies and a sound investment environment.

Addressing a China-Slovakia business forum in Beijing, Fico said economic and trade cooperation between Slovakia and China has developed well. The two sides have signed a number of agreements worth millions of US dollars, in sectors such as construction, machinery, medical science, electronics and agriculture.

He said he was hoping to see large-scale Chinese investments in Slovakia. Compared to the US$12 billion China has invested in the neighboring Czech Republic, which in many respects is similar to Slovakia, Fico said he was disappointed at the low figures for his own country. But he did not give the exact numbers.

Representatives from some 100 Chinese companies and nearly 20 Slovakian companies attended the forum, holding one-on-one consultations.

Fico promised to provide favorable commercial policies for Chinese investors, including certain exemptions, industrial zones and improved infrastructure.

Statistics from the Ministry of Commerce show that the trade volume between China and Slovakia in 2006 amounted to US$913.68 million, up 85.9 percent year-on-year.

Vice Minister of Commerce Jiang Zengwei said bilateral economic cooperation had considerable potential. He encouraged experienced Chinese companies to explore opportunities in Slovakia and invited Slovakian companies to take part in China's drive to develop the remote hinterland and the rustbelt in the northeast.

Later, Fico delivered a speech on Slovakia's foreign policy at the China Institute of International Studies.

Tuesday was the second day of Fico's five-day official visit to China. A guest of Premier Wen, this is his first China visit since he assumed the office of prime minister last July.

(Xinhua News Agency February 7, 2007)