The University of Economics, Prague (VŠE) is the eighth biggest public university by student numbers and the biggest public university of economics in the Czech Republic. Currently, there are almost 16000 students studying at VŠE, classes are taught by more than 700 qualified academics and business experts. Internationalization strategy of VŠE is based on cooperation with high quality partner universities all around the world. VŠE is a member of numerous international organizations and networks such as the international strategic alliance CEMS (Global Alliance in Management Education) and PIM (Partnership in International Management). VŠE cooperates with more than 230 partner universities worldwide. There are almost 1000 outgoing students every year and about the same number of incoming students. Aim of this project was to continue with internationalization trend in 2015/2016 and not only to increase a number of bilateral agreements with partner universities but also deepen exchanges with existing partners. A long term policy is increasing a number of students and staff with international experience. This project focuses mainly on supporting semester-long student exchanges across Europe both on bachelor and master level. Students´ traineeships are ale supported, since they help to improve employability of VŠE graduates. Traineeships are currently a part of study program of 2 out of 6 VŠE faculties but in 2016-17 one more faculty will be involved. Internationalization effort focuses also on staff and therefore teaching and training mobility was supported as part of this project (with participation of all faculties and departments). Financial support was provided to more mobilities than originally planned. Almost 550 students and 70 staff could therefore gain an invaluable international experience. In a long term, internationalization of university environment contributes to allowing VŠE to remain one of the best business schools in Central and Eastern Europe. This will also result in increasing employability of its graduates in highly competitive labor market.