1/4  BIS central bankers' speeches  Access to the Single Market and adoption of the acquis communautaire have contributed to Slovakia’s success in two ways.
First, the removal of trade barriers and application of European-wide standards considerably reduced the cost of doing business across borders, fostering trade and encouraging the country’s participation in European value chains.3 Second, a more stable and predictable legal and regulatory environment improved investor security and contributed to a rapid inflow of foreign investment, providing the economy with the necessary foreign capital, know-how and technology to increase its competitiveness.