An analysis by the NZZ sheds light on the economic and social consequences of the EU’s eastward enlargement in 2004, when ten countries – including Poland, the Czech Republic, Hungary, Slovakia and Slovenia – joined the European Union. The accession of these countries brought with it a considerable economic upturn on the one hand, but also challenges such as the brain drain on the other.

In the 20 years since eastward enlargement, the new EU members have been able to catch up economically. Poland, for example, has significantly increased its GDP per capita since 2004, from 48% to 76% of the EU average in 2020. The other Central and Eastern European countries also showed similar growth rates. This economic progress creates new opportunities for Swiss companies that want to become involved in these emerging markets.

However, the development of wages has been slower. While wages caught up with the EU average in the first few years after accession, they have largely stagnated in recent years. This situation offers potential for investment in education and the development of a skilled labour force. Companies and educational institutions from Switzerland could play a key role here by contributing to the development of talent and the exchange of knowledge.

Another key issue is migration. A significant phenomenon in the course of eastward enlargement was the increased mobility of labour, which led to a “brain drain” in some countries such as Poland. As a result, these countries now have to recruit more skilled labour from abroad, which Swiss companies and institutions could also use as an opportunity for cooperation and investment.

The Swiss-CEE Chamber of Commerce sees these developments as an opportunity to strengthen trade and investment relations between Switzerland and the CEE countries. In view of the dynamic economic development in these markets and the associated opportunities for trade, science and society, it is more important than ever to make targeted use of Swiss expertise and innovative strength in these countries. The SEC supports companies through consulting, project management and the promotion of a powerful community of influential personalities and institutions in Switzerland and abroad.

Through these strategic partnerships and initiatives, Switzerland can benefit from the growth opportunities in Central and Eastern Europe and at the same time contribute to the further positive development of the region.

Source: NZZ