The Vietnam-Slovenia Trade Forum, a collaborative effort between the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade and SPIRIT Slovenia Business Development Agency (part of the Ministry of Economy, Tourism, and Sports of Slovenia), took place in Hanoi on September 26.
The forum brought together 100 businesses, including a delegation from Slovenian transport and logistics companies, as well as local enterprises.
Mr. Vu Ba Phu, Director of the Vietnam Trade Promotion Agency, in his address, emphasized the significance of the year 2024, marking the 30th anniversary of diplomatic relations between Vietnam and Slovenia. He highlighted the forum as a pivotal milestone in the series of celebrations commemorating this historic occasion.
Mr. Phu expressed his aspiration for the Ministry of Industry and Trade to act as a bridge, facilitating events that elevate diplomatic and economic cooperation between the two nations to new heights.
Building on the Momentum of EVFTA
The Director of the Trade Promotion Agency reflected on the substantial progress made in the 30-year journey of Vietnam-Slovenia cooperation, particularly in fostering economic and trade partnerships. The exchange of delegations at various levels between the two countries stands as a testament to this growth.
The implementation of the EU-Vietnam Free Trade Agreement (EVFTA) has significantly boosted trade relations, resulting in a more than 12-fold increase in bilateral trade, from $46.1 million in 2012 to over $516 million in 2023.
As of August 2024, in terms of investment, Slovenia ranked 92nd out of 146 countries and territories investing in Vietnam, with three valid projects totaling $2.3 million in registered capital. Mr. Phu conveyed the Ministry of Industry and Trade’s hope to attract more Slovenian businesses to invest in Vietnam in the future.
In a conversation with VET, Ms. Vesna Nahtigal, General Manager of the Slovenian Chamber of Commerce and Industry, revealed that this delegation comprised the largest group of Slovenian logistics and transport businesses to visit Vietnam to date. This signifies a strong commitment to further solidifying bilateral cooperation.
Marking the 30th anniversary of the collaboration between the Slovenian Chamber of Commerce and Industry and the Vietnamese Government, Ms. Nahtigal noted the increased interest from Slovenian companies in the Vietnamese market since the signing of EVFTA. The business delegation, she stated, is a testament to this growing trend.
Untapped Potential for Expanding Cooperation
Forum experts concurred that despite the impressive growth trajectory, the trade volume between Vietnam and Slovenia remains modest. They identified significant potential for expanding trade and cooperation, given the complementary nature of their import-export structures rather than competition.
Ms. Nahtigal emphasized Slovenia’s strategic position, with its developed seaports and extensive rail and road network connecting major European economies. She highlighted the opportunity for Slovenia to serve as a key transshipment hub, facilitating Vietnamese goods’ access to the vast 27-member European Union market, encompassing nearly 450 million consumers.
Furthermore, as a nation with expertise in logistics and transportation and an EU member, Slovenia highly values the Vietnamese market. According to the head of the Slovenian Chamber of Commerce and Industry, Slovenian businesses are eager to collaborate with Vietnamese companies to develop green logistics solutions, aligning with the sustainable development goals of both nations.
“Slovenia, as an EU member, understands the sustainable and green development criteria set by the EU,” Ms. Nahtigal stated. “The companies in the delegation bring new technologies in green logistics and are eager to explore opportunities in the Vietnamese market.”
Beyond logistics, Ms. Nahtigal mentioned the Slovenian government’s interest in expanding cooperation with Vietnam in agriculture, the food industry, and heavy industry, aligning with Vietnam’s development priorities and resource advantages.
Following the establishment of a permanent diplomatic presence in Vietnam with the opening of a consulate in Ho Chi Minh City earlier in June, the Slovenian government reaffirms its commitment to promoting business cooperation between the two countries, as affirmed by Ms. Nahtigal.
She also shared the expectation of another business delegation from Slovenia visiting Vietnam in 2025, further solidifying the bilateral relationship.
A Memorandum of Understanding (MoU) was signed between the Vietnam Trade Promotion Agency and the Slovenian Business Development Agency during the event.
The MoU aims to establish a stable, sustainable, and systematic framework for cooperation, paving the way for future trade promotion activities. This collaborative effort contributes to enhancing and solidifying the economic and trade relations between Vietnam and Slovenia.
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