Significant synergies

How would you describe the evolution of diplomatic and economic relations between Vietnam and Slovenia over the past 30 years?

We are indeed celebrating three decades of diplomatic relations. But I must say that Vietnam has been in the hearts of the Slovenian people since before that back to the time when we were part of Yugoslavia. So yes, we are celebrating 30 years of official diplomatic ties, but our relations go back much further.

Over the last year and a half, we have really enhanced our relationship, with high-level visits and regular consultations. Our Deputy Prime Minister and Minister of Foreign and European Affairs Ms. Tanja Fajon accompanied by a business delegation visited Vietnam in May last year. During this occasion, business forum was held in Ho Chi Minh City.  In October last year, we reinstated the bilateral economic commission, after the previous meeting held in 2018, prior to the pandemic. In March this year we also resumed political consultations at the level of Deputy Foreign Minister. As you know, Secretary General Renata Cvelbar Bek of the Ministry of Foreign Affairs and European Affairs has recently paid a visit to Vietnam on the occasion of 30^th anniversary of diplomatic relations. Her visit has been concluded in Ho Chi Minh City where she opened the Slovenian Consulate with Mr. Bui Quang Minh as Honorary Consul of Slovenia. I think our relationship has always been good and friendly, but I am very much looking forward to seeing it provide more tangible results for all of us, especially in economics.

What are the key sectors in which Vietnam and Slovenia have seen the most significant economic cooperation?

Our bilateral trade has been increasing over the last few years, which is consistent with other EU member countries and Vietnam since the signing of the EU-Vietnam Free Trade Agreement (EUVFTA).

When discussing specific sectors, our possibilities are much bigger, particularly in logistics. We have a logistics delegation coming to visit Vietnam in September. Slovenia is situated in the heart of Europe, making the port of Koper important for a significant increase in Vietnamese-EU trade.

Our economy is export-oriented, with around 85 per cent of our GDP dependent on exports. Interestingly, of this 85 per cent, 80 per cent is achieved within a 500-kilometer radius. Diversification of our economy is therefore essential.

This is why we are also looking attentively at Vietnam’s development. Congratulations are in order to Vietnam for its immense development over the past few decades. Slovenia recognizes the significant synergies between our two economies that we need to proactively explore.

Sectors we are looking include high technology, logistics, digital transformation, green transition and sustainable development, including sustainable tourism.

Slovenia stands out as an exemplary case in the green economy and sustainable tourism. Can you tell us more about these endeavors?

Slovenia is a highly-industrialized and technologically-advanced country, but at the same time over 60 per cent of our land is covered by forest, making us the second-most forested country in Europe, after Finland.

However, despite our industrial and technological advancements, we lack extensive natural resources, such as vast lands or rare earths. This scarcity has driven us to adopt sustainable practices to manage our resources efficiently. We understand the necessity of dealing with our limited resources in a sustainable manner.

Regarding sustainable tourism, Slovenia is one of the leading countries in the world, according to the Sustainability Index. Sustainability is integral to our approach, and we have garnered significant knowledge and experience in this field. During Ms. Renata Cvelbar Bek’s visit, it was mentioned that there are opportunities for Slovenia and Vietnam to collaborate and innovate in the field of sustainable tourism. I also want to highlight that Vietnam is becoming increasingly popular with tourists. This growth in tourism provides an excellent opportunity for Vietnam to implement sustainable practices and attract environmentally-conscious travelers.

How has bilateral trade between Vietnam and Slovenia developed over recent years? What are the primary goods and services being exchanged?

In regard to our exports, the leading item is pharmaceuticals, followed by machinery such as transformers and similar products. Vietnam’s exports, meanwhile, are still quite traditional, including coffee, textiles, and everyday goods.

I believe we need to take a strategic approach in other fields as well, beyond focusing on traditional exports from Vietnam. Vietnam is becoming strong in sectors like electric vehicles (EVs), among others. Additionally, establishing a regular connection between Vietnamese ports and the Slovenian port of Koper could significantly boost other areas of bilateral economic cooperation.

What initiatives and agreements are currently in the pipeline to strengthen economic ties between the two countries?

Let me start by an emphasis on the reinstated the Vietnam - Slovenia Intergovernmental Committee on Economic Cooperation. I am a strong believer in regular dialogue. We began our bilateral economic cooperation based on an MoU in 2017. I think regular dialogue is crucial because it can identify opportunities as well as problems in a timely manner. It is one of the instruments we have at our disposal, and we have started to work regularly on these issues and to explore different possibilities.

I am hopeful that with the logistics delegation visiting Vietnam in September that we can reach agreement on a logistics connection between our two countries, which would be extremely important and mutually beneficial.

What are the challenges the two countries face? How can Vietnam and Slovenia learn from each other to overcome this difficult period of time?

I think both countries, like all countries globally, are facing heightened tensions. This is something crucial to address. Our both countries share respect for international law, peace and stability. This is the basis.

I would suggest that real-time exchanges of views, both bilaterally and in multilateral forums, are important. Additionally, Slovenia is a non-permanent member of the UN Security Council in 2024-2025. We conduct our membership openly, welcoming consultations with all partners, not just those within the Security Council. Vietnam, due to its historic experiences, is a crucial interlocutor on questions of peace and security and how to achieve them.

Vietnam is also an important interlocutor regarding development, particularly its significant achievements in lifting people out of poverty in recent decades. Therefore, we should utilize a three-dimensional relationship: bilateral, EU-Vietnam (given Slovenia’s EU membership), and participation in multilateral forums. Vietnam has carved out its path and is becoming an indispensable part and partner of the region and the world.

What is your vision regarding the relationship between the two countries, especially in economics? What do you hope to see in the decades to come?

What I can say is that countries should build on their own experiences, particularly the lessons that come from their respective histories, and navigate the tense geo-economic environment in a way that searches for synergies and mutual support.

This involves presenting best practices, such as sustainability and fostering economic complexity. For Slovenia, it’s also about developing niche champions - small and medium-sized enterprises (SMEs) that lead globally in their fields - and seizing opportunities.

I’m a great believer in regular dialogue. That is why I am happy that in recent years it has become the norm, because through regular dialogue we can gain a clear view of possible synergies, opportunities, and benefits for both countries. Ultimately, it should always be beneficial to both countries. It can’t be any other way if we want to further develop good and sustainable relationship for the future.