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	Get it While it's Hot! Eastern Europe's Fast-Growing Economies are Promising Markets for Virginia Exports! European economies are in a rut? Not Eastern Europe, where economic growth for the 13 nations was a solid 5% in 2003! Eastern Europe offers a wealth of opportunities for Virginia manufacturers and service providers. Companies interested in increasing sales in two of the region's most vibrant and fastest growing economies -the Czech Republic and Poland- can take advantage of the chance to personally meet prospective customers in those two markets. In the past decade, major structural changes have taken place Eastern European economies, which are now more market-oriented and open to foreign investment. In the Czech Republic, for example, more than 80 percent of enterprises are now in private hands. The Czech Republic has thrived since the dissolution of Czechoslovakia in 1993, and has become the main recipient of foreign direct investment in Eastern Europe. Poland is also drawing billions of dollars in new investment every year as foreign firms take advantage of its large population and its strategic location. As members of NATO and the European Union (EU), both Poland and the Czech Republic have proven records of political stability and commitment to free market principles. The Polish government has offered many incentives to attract new firms that can bring capital, technology and jobs to the country. Likewise, through similar incentives and its low cost, educated workforce, the Czech Republic has become the largest auto producer in Eastern Europe and has attracted over 25 of the world's leading auto parts suppliers. So how can a Virginia business get in on all the action in Poland and the Czech Republic? Business opportunities in these two countries tend to be most successful when initiated through personal introductions from within the country, and then followed up by personal meetings. Fortunately, the Virginia Economic Development Partnership-Division of International Trade (VEDP-IT) has a European office and a history of successful trade missions to Eastern Europe, including Poland, Hungary, and Romania. The office is staffed by a local, international trade professional who is eager to assist with matchmaking for Virginia businesses. This will give Virginia companies interested in Poland and the Czech Republic a unique competitive advantage. This spring, Virginia companies will have the opportunity to expand their business in Eastern Europe by joining the VEDP-sponsored Trade Mission to Poland and the Czech Republic, June 6-10, 2005. The mission will start in Prague, Czech Republic, and continue on to Warsaw, Poland. Virginia Governor Mark Warner will be joining the delegation in Prague. Trade mission participants will enjoy one-on-one meetings with targeted, pre-screened Czech and Polish companies that match their unique company and market objectives. Participants will travel with Virginia's European Representative and will benefit from his local connections and expertise. The VEDP will provide pre-arranged meeting rooms, in-country transportation, translation assistance, market briefings and networking functions. *Why the Czech Republic?* Increased funding by EU and multilateral lending agencies for projects that facilitate the Czech Republic's incorporation in to the EU increases opportunities for Virginia companies to bid on contracts. In 2004, the Czech Republic was the U.S.' 2nd largest trading partner in Eastern Europe, and was the largest destination for Virginia exports in that region, with exports totaling almost $27 million. The U.S. remains among the largest investors in the Czech Republic with $3.6 billion of cumulative direct investment from 1990 through 2002. The Czech Republic lies at the heart of the European Union, and is a strategic location for reaching other European markets. Best prospects for exports to Japan are: Medical equipment, biotechnology, electronic components, computer software, pharmaceuticals, travel and tourism, aircraft and aircraft parts, new energy power generation and electric power equipment, dietary supplements/health food, lifestyle market, soil remediation and engineering services, auto parts and accessories, education and training services, telecommunications equipment, and building products. Best prospects for exports to the Czech Republic are: Automotive parts, service, and equipment, machinery and transport equipment, environmental technologies, security and safety equipment, medical equipment, e-commerce, travel and tourism services, insurance, and education/training services. Virginia's top exports to the Czech Republic include: Tobacco, paper/paperboard, optic/medical equipment, industrial machinery, toys and sports equipment, vehicles/not railway, electrical machinery, perfumery/cosmetics, and wadding/felt/twine/rope. *Why Poland?* Poland is second only to the Czech Republic in attracting exports from Virginia. 2004 exports from Virginia to Poland reached almost $23 million. The European Commission predicts the Polish economy will be one of the fastest growing economies in the European Union over the next 2 years. It is estimated that more than 350 U.S. firms now have a presence in Poland. EU funds to bring the Poland in line with EU standards will present many opportunities for VA businesses, especially those dealing with environmental engineering and consulting. Poland is a strong U.S. ally and NATO member. Best prospects for exports to Poland are: Computer Services, software, and peripherals, automobile parts and components, pollution control equipment, toys and games, travel and tourism services, school and office supplies, health care services, and construction materials and equipment. Virginia's top exports to Poland include: Industrial machinery and equipment, optic/medical instruments, paper/paperboard, chemical products, meat, electrical machinery, tobacco, perfumery/cosmetics, vehicles/not railway, and plastics. Virginia manufacturers and service providers interested in increasing sales in two of Europe's most dynamic economies will benefit from personal introductions made on the Trade Mission to Poland and the Czech Republic. Don't miss this opportunity - space is limited! Click here to register online for this event before April 22, 2005. For more details contact Patricia Codescu at: 703-506-1031 or by e-mail at: PCodescu@YesVirginia.org or go to the events page of our website at www.ExportVirginia.org.