The Czech Republic is presently heading the activities of the European Union (EU) and hence Dr. Hynek also represented the EU. He expressed his concern over the fact that though the EU was Indiaas biggest economic partner, it was hardly ever in the news. India being one of the only six strategic partners of the EU, they wish to stay in close ties with our economy. As he spoke about his own country, The Czech Republic, he reminded the gathering that brands such as BATA and SKODA were the brainchild of the Czech and were later passed on into the hands of other nations. As of now Czech Republic has not taken up the Euro as their currency due to their greater economic growth (as compared to the EU); however they may accept it by 2012.

Speaking about education in The Czech Republic, Dr. Hynek stated that their country had 80 universities for 10 million people, including one of the worldas oldest universities (since 134 in their capital, Prague. Education in the Czech language was free at all levels, though the new capitalist economy may change that soon.

Dr. Hynek defined parallels between Indiaas liberalization process which began in 1991 and the same which started in Czech Republic in 1990. He urged the participants of IIM Indore to realize the need for a bit more courage when going in for systematic privatization of the Banking sector, which he felt was most essential. He felt that though Indiaas literacy rates may vary immensely from those of Czech Republic, the capitalist approach could be implemented in a similar fashion.

Dr. Hynek explained how his nation addressed the issues of political unrest with their neighbours by becoming a part of a larger international arrangement and creating a strong economy. Commenting on the situation in Pakistan, he felt that we must help them create a stable government, because only when we know whoas in true power, can we begin dialogue. Responding to a query by a participant, Dr. Hynek said that India truly deserved its seat on the United Nations Security Council, and sooner or later it would happen. As the talk shifted to other topics, he also addressed his countryas approach to global warming and their attempts at a Green Planet. He said that his government always supported green technologies and would continue to do so.