Searching for opportunities: Another gateway to the EU market

The Vietnam-Slovenia Trade Forum was jointly organized in Hanoi on September 26 by the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade and the Ministry of Economy, Tourism, and Sports of Slovenia (SPIRIT Slovenia Business Development Agency).

The forum witnessed the participation of 100 businesses, including a delegation from Slovenian transport and logistics companies as well as local enterprises.

Speaking at the forum, Mr. Vu Ba Phu, Director of the Vietnam Trade Promotion Agency, highlighted that 2024 marks a special year, commemorating the 30th anniversary of diplomatic relations between the two countries. He emphasized that today's event serves as a significant milestone in a series of activities to celebrate this historic occasion.

"We hope that the Ministry of Industry and Trade will act as a bridge, organizing events that elevate the diplomatic and economic cooperation between the two countries to a new level," Mr. Phu stressed.

Momentum gained from EVFTA

The Director of the Trade Promotion Agency noted that the 30-year journey of Vietnam-Slovenia cooperation has seen significant progress, fostering economic and trade partnerships. The most evident example is the recent exchange of delegations at various levels between the two nations.

The implementation of the EU-Vietnam Free Trade Agreement (EVFTA) has notably accelerated trade between the two countries, with bilateral trade growing more than 12-fold, from $46.1 million in 2012 to over $516 million in 2023.

"In terms of investment, as of the end of August 2024, Slovenia ranked 92nd out of 146 countries and territories investing in Vietnam, with three valid projects totaling $2.3 million in registered capital. The Ministry of Industry and Trade hopes to welcome more Slovenian businesses to invest in our country in the future," Mr. Phu added.

Speaking to VET, Ms. Vesna Nahtigal, General Manager of the Slovenian Chamber of Commerce and Industry, revealed that this is the largest Slovenian logistics and transport business delegation to visit Vietnam so far, demonstrating a strong commitment to further strengthening bilateral cooperation.

“This is the 30th anniversary since the Slovenian Chamber of Commerce and Industry started cooperating with the Vietnamese Government. Moreover, since the signing of EVFTA, there has been a surge in interest from Slovenian companies in the Vietnamese market, and this business delegation is a sign of that trend,” Ms. Nahtigal stated.

Vast potential for expanding cooperation

Experts at the forum agreed that despite impressive growth, the trade volume between Vietnam and Slovenia remains modest. The potential for expanding trade and cooperation between the two sides is substantial, as their import-export structures are not competitive but rather complementary.

With several developed seaports and an extensive rail and road network connecting major European economies like Germany, Poland, and Austria, Ms. Nahtigal highlighted that Slovenia could serve as a key transshipment hub, facilitating easier access for Vietnamese goods exported to the 27-member European Union market with nearly 450 million consumers.

Moreover, as a nation strong in logistics and transportation and an EU member, Slovenia highly regards the Vietnamese market and its businesses are ready to work with Vietnamese companies to develop green logistics solutions, in line with the development goals of both countries, according to the head of the Slovenian Chamber of Commerce and Industry.

“Slovenia, as a member, understands well the sustainable and green development criterion set out by the EU. The companies in the delegation have brought with them new technologies in green logistics and are willing to work with the Vietnamese market,” she stated to VET.

Beyond logistics, Ms. Nahtigal mentioned that the Slovenian government also seeks to expand cooperation with Vietnam in agriculture, food industry, and heavy industry, aligning with Vietnam's development priorities and resources.

After establishing a permanent diplomatic presence in Vietnam with the opening of a consulate in Ho Chi Minh City in June this year, the Slovenian government will continue to promote business cooperation between the two countries, Ms. Nahtigal affirmed.

According to her, another business delegation from Slovenia is expected to visit Vietnam in 2025.

At the event, a Memorandum of Understanding (MoU) was signed between the Vietnam Trade Promotion Agency and the Slovenian Business Development Agency.

The signing of the MoU aims to establish a stable, sustainable, and systematic mechanism for cooperation, laying the groundwork for implementing trade promotion activities in the coming period, thereby contributing to enhancing and strengthening economic and trade relations between Vietnam and Slovenia.