The Day of the Establishment of the Slovak Republic is observed in Slovakia on January 1 every year. This official holiday commemorates Slovakia's independence from Czechoslovakia, which was established on January 1, 1993, following the dissolution of the federation. The process leading to this independence began in 1989 after the Velvet Revolution, which ended the communist regime in Europe. In autumn 1992, Czech Prime Minister Václav Klaus negotiated the details for the disbanding of Czechoslovakia, culminating in a vote by the federal parliament to dissolve the country. Despite historical challenges, Slovakia and the Czech Republic continue to maintain close economic relations. The day serves as a reminder of Slovakia's sovereignty and national identity.