Gross National Product (GDP) in Eastern Europe will run 1-2% ahead of Western Europe while interest rates remain low, reports Murray Coleman at Investors Business Daily. Although there are no specific Eastern European ETFs available, the next best thing is buying ETFs representing surrounding countries.

Barclays offers iShares for both Austria (EWO) and Switzerland (EWL). Banks, telecommunication, transportation and energy companies based in Austria and Switzerland have been well established in Poland, Hungary, Slovakia and The Czech Republic for years. A booming economy and an educated and motivated people should bode well for this "New Europe" in the near term.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.