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Electronics Production | May 04, 2005

EU expansion comes with new opportunities

Two new groups of countries very keen to integrate with the Western European businesses were formed by the EU expansion in May 2004. The Baltic states, Estonia, Latvia and Lithuania, and the southern states with Poland, Hungary, Slovenia and the Czech and Slovak Republics.
This expansion brings a lot of new opportunities. New consumer markets are opening and OEM companies are given new expansion locations.

Each of the new countries has a well-educated workforce but the lack of funding from the governments makes the ideas hard to transfer into business. Each of the new-added EU countries has their own approach on developing a stronger economy. Lithuania for example, which has established five IT and electronics parks, wants to develop a technically-based economy. When Czechoslovakia was split into Czech Republic and Slovakia the less technical manufacturers were left in Slovakia which houses for example cable assembling.

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