Opportunities in the Czech Republic for Northern Ireland Companies
Olive Hill, Executive Director of Strategy
Jun 11, 2015
Invest Northern Ireland is taking a Trade Mission to Poland and the Czech Republic 19-23 October.
The five day mission will focus on Warsaw and Prague.
Export advice and guidance
Our expert Trade Team in Belfast will be on-hand with advice and guidance to help you prepare for the mission. We have also appointed an in-market trade advisor who can provide tailored market research and arrange individual appointments for your company. The cost of this service is heavily subsidised by Invest NI.
The Czech Republic - Market
The Czech Republic is one of the most stable and prosperous markets in central Europe. The private sector accounts for about 80% of Gross domestic product (GDP). Gross domestic income per capita is currently around USD 27,191 – one of the highest in Central and Eastern Europe (CEE).
There are a number of Northern Ireland businesses exporting to the Czech Republic including Caterpillar manufacturer of generator sets, Powerscreen manufacturer of mobile crushing and screening equipment and Hilden Brewery who are exporting their craft beer to a major distributor.
Benefits for Northern Ireland businesses exporting to the Czech Republic include:
English widely spoken
Business culture is similar to the UK
Location gives easy access into CEE and Russian markets
UK products well received
Direct flights from Belfast
Strengths of the Czech market include:
European Union (EU) membership ensures no major constraints to doing business
Some of the best infrastructure in central Europe
€23 billion worth of EU structural funds available for 2014 to 2020
The Czech Republic offers opportunities, particularly in sectors such as:
Security and Defence
Things to think about
Company legislation is governed by the Czech Civil Code
Direct sales into the Czech market can be difficult. For most UK companies it‘s more effective to approach the market through local business partners
Products and packaging should meet EU standards
Labels should be all in Czech
The Czech Standards, Metrology and Testing Authority has responsibility for standards and technical regulations
The Industrial Property Office has responsibility for IP in the Czech Republic