The State Secretary of the Ministry of Economy and Labor, Jumni Ademi, held a bilateral meeting today in Skopje with the State Secretary of the Ministry of Economy of the Slovak Republic, Vladimír Šimoňák . At the meeting were discussed deepening of the economic cooperation, exchange of experiences in reforms and opening new opportunities for investment and trade between the two countries.
Ademi noted that North Macedonia is in the process of implementing broad economic and market reforms as part of the process of accession to the European Union. The new structure of the Ministry of Economy and Labor, which unites economic and labor policy, allows for more efficient coordination of employment measures, protection of workers' rights and development of the private sector.
In recent years, the country has made visible progress: the unemployment rate in 2024 decreased to 12.4%, while among young people it was 29%. Despite the challenges of the informal economy and the lack of appropriate skills, North Macedonia remains an open and export-oriented economy, with manufacturing as the supporting pillar of foreign trade.
Foreign direct investment in 2024 exceeded one billion Euros, confirming investor confidence, especially in the automotive components, electronics, and light industry sectors – most often located in free economic zones.
Economic relations between North Macedonia and the Slovak Republic are continuing to grow. In 2024, Macedonian exports to Slovakia exceeded EUR200 million (mainly insulated wires, automotive parts and machinery), while Slovak exports to our country reached EUR80 million. Total trade has been growing at an annual rate of 37% since 2017, which shows strong potential for further expansion of industrial cooperation and the integration of both economies into European supply chains.
The two State Secretaries agreed that the Slovak Republic, as a successful example of transition to a competitive European economy, is an important partner for North Macedonia. Slovak experiences in labor market reform, regulatory modernization, support for small and medium-sized enterprises, and investment promotion are particularly relevant.
The following priority areas for cooperation were identified:
-Improving the business climate and competitiveness of small and medium-sized enterprises, through the exchange of experiences in reducing administrative barriers, encouraging innovation, clusters and export support;
-Industrial cooperation, trade and investment, with a focus on B2B networking between Macedonian and Slovak companies and promotion of Slovak investments in free economic zones and priority production sectors;
-Market surveillance and consumer protection, through strengthening institutional cooperation and exchange of experiences in the digitalization of surveillance, the application of risk-based models and harmonization with European standards for safety and fair competition.
North Macedonia expects support from the Slovak side in improving regulatory and inspection systems, digitalizing market surveillance, formalizing the informal economy, and developing inclusive employment policies, based on Slovak best practices.
At the meeting, a mutual willingness was expressed to sign a bilateral Memorandum of Understanding, which will establish a framework for structured and long-term institutional cooperation between the two Ministries, as well as for joint participation in European technical assistance programs and twinning projects.
