An MoU signed between the Vietnam Trade Promotion Agency and the Slovenian Business Development Agency at the Vietnam-Slovenia Trade Forum

According to Vu Ba Phu, Director of the Vietnam Trade Promotion Agency (Vietrade), the 30-year cooperation between Vietnam and Slovenia has seen significant progress, laying a solid foundation for deeper economic and trade collaboration. One clear example is the recent increase in high-level and business delegation exchanges between the two countries.

Notably, the EU-Vietnam Free Trade Agreement (EVFTA) has provided a major boost to bilateral trade relations between Vietnam and Slovenia. Bilateral trade has surged by nearly 12 times, from US$46.1 million in 2012 to over US$516 million in 2023.

"As of August 2024, Slovenia ranks 92nd out of 146 countries and territories investing in Vietnam, with three active projects totaling US$2.3 million in registered capital. We hope to see more Slovenian businesses investing in Vietnam in the near future,” Phu said.

Although trade growth between the two countries has been impressive, many experts believe that the trade volume remains modest. There is significant potential to expand trade ties between Vietnam and Slovenia, as their export-import structures complement each other.

Amid the global shift toward green development and energy transition, Vietrade representatives expressed hope that Slovenia will share its expertise in energy, logistics, maritime transport, high technology, and renewable energy - key sectors that could unlock new cooperation opportunities between the two nations.

This creates favorable conditions for businesses from both countries to build partnerships and diversify supply chains, especially in sectors where each country excels, such as agriculture, textiles, footwear, wood and household goods from Vietnam, and logistics, chemicals, pharmaceuticals, electronics and machinery from Slovenia.

Vietnam has the potential to serve as a strategic gateway for Slovenian businesses to enter the ASEAN and Asia-Pacific markets, benefiting from many free trade agreements. Slovenia can serve as a bridge for Vietnamese businesses to access the EU market, particularly thanks to its advantages in seaports and logistics, facilitating faster and more cost-effective entry of Vietnamese goods into the EU, especially in Eastern and Southeastern European countries, Phu affirmed.

Vesna Nahtigal, Director of the Chamber of Commerce and Industry of Slovenia, said that Slovenia possesses well-developed infrastructure, including ports, railways and modern transportation networks. She emphasized that the Port of Koper is one of the region's key maritime gateways, offering cost advantages for supplying goods to Central and Eastern European markets. She noted that, with its strategic location and developed ports, Slovenia is an ideal entry point for Vietnamese goods into the European market due to its efficient and cost-effective transportation capabilities.

Experts from Slovenia also stated that, with its geographic advantages and the multilingual capabilities of its population, Slovenia is not only an ideal location for East-West trade but also a suitable place for companies to establish headquarters for operations in Central and Eastern Europe, and the Western Balkans. Cooperation with Slovenia will help Vietnam access the vast EU market, which includes 450 million consumers and 27.5 million businesses. Goods can move freely across the borders of all 27 EU member states, from Germany and Poland to other countries.

Nahtigal also emphasized that Slovenian businesses are particularly interested in developing business partnerships with logistics companies, international transport services, maritime transport via the North Adriatic ports, industrial and heavy industry companies, as well as exporters and importers operating within the EU. Additionally, Slovenia is keen on industries such as automobile manufacturing, steel, chemicals, pharmaceuticals, food and fast-moving consumer goods (FMCG).

"Together, we can build a brighter future and strengthen the relationship between our two countries. By leveraging the strategic advantages of the EVFTA and Slovenia's solid infrastructure, we will create a dynamic and mutually beneficial partnership, driving economic growth and innovation," Nahtigal emphasized.

Rok Capl, Director of Spirit, Slovenia's Business Development Agency, said that over the years, Spirit Slovenia and its partners have been dedicated to building the relationship between Slovenia and Vietnam. "We have facilitated delegations, organized business forums, and supported interactions through workshops, export assistance, and participation in trade fairs."

"The signing of the MoU between Spirit and Vietrade marks an important milestone in the partnership between the two countries. Along with B2B meetings, I believe that businesses from both sides will gain deeper insights into global supply chains and find solutions to further boost trade. We highly value the strong relationship between Vietnam and Slovenia and are committed to supporting businesses in overcoming any challenges they may face," Rok Capl emphasized.