In November 1989, the fall of the so-called Iron Curtain enabled the establishment of a democratic government, the restoration of civil freedom and human rights. The break-up of the Council of Mutual Economic Aid - Comecon - and the Warsaw Pact, and ultimately of Soviet Union as the main commercial partner of Slovakia has made the situation a complex one. As a result, Slovakia is opening up to the world, searching for commercial and mutually-beneficial partnerships and information exchange.
In tandem with the democratic changes in Czecho-Slovakia, the decision was made to separate the country into two independent and sovereign states. A customs and currency union has been established.
The Slovak parliament proclaimed the sovereignty of the Slovak Republic in July 1992 and the Slovak Constitution was signed on September 3rd of that year. On January 1, 1993 the newly independent and sovereign Slovak Republic came into being, followed six weeks later by the election of the first democratic Slovak president.