The Third meeting of the Intergovernmental Commission for Economic Cooperation between Slovenia and Vietnam
On October 9, 2023, in Ljubljana, Slovenia, the third meeting of the Intergovernmental Commission for Economic Cooperation between Slovenia and Vietnam took place. The meeting was chaired by the Minister of Industry and Trade of Vietnam, Nguyen Hong Dien, and the Deputy Prime Minister and Minister of Foreign Affairs and European Affairs of Slovenia, Tanja Fajon. This significant event provided an opportunity for both sides to discuss potential areas of cooperation in the coming times, demonstrating their commitment to strengthening bilateral cooperation in the economic and trade fields between the two countries.
During the meeting, Slovenian officials from various Ministries attended, including the Ministry of Foreign Affairs and European Affairs, the Ministry of Agriculture, Forestry and Food, the Ministry of Infrastructure, the Ministry of Economy, Tourism, and Sports, and the Ministry of Digital Communications. The Slovenian Chamber of Industry and Commerce was also represented. On the Vietnamese side, representatives from several ministries and branches, Mr. Nguyen Trung Kien - Vietnamese Ambassador to Austria concurrently with Slovenia, and representatives of departments and agencies under the Ministry of Industry and Trade were present.
During the meeting, both sides conducted a comprehensive review of the implementation of bilateral cooperation activities since the second meeting of the Intergovernmental Commission in 2019. Against the backdrop of strong political and diplomatic ties between the two countries, the development momentum has been very positive as they approach the 30th anniversary of establishing diplomatic relations. In terms of bilateral trade, the trade turnover between the two countries has increased more than 12 times, from 46.1 million USD in 2012 to over 573 million USD in 2022. Particularly, since the EVFTA came into effect, bilateral trade growth has consistently reached a high level of 15% to 20% per year.
However, both sides candidly acknowledged that despite the positive developments in recent times, the economic and trade cooperation between the two countries still does not fully reflect the potential, needs, and the strong cooperative relationship established over nearly 30 years.
In addition to traditional fields, both sides have actively explored new directions for cooperation in mutual interest areas such as transportation-logistics, high-tech agriculture, human resource development training, collaboration in green transformation, digital transformation, and digital technology development, as well as sustainable development, climate change mitigation, and cooperation in the fields of science, technology, and innovation.
Tourism is also an area of interest for both sides, with both countries being endowed with beautiful natural scenery and unique, long-standing cultures, making them attractive tourist destinations that rank among the top in the world every year.
The Slovenian side has expressed its desire to establish a direct connection between Vietnam's seaports and Slovenia's Koper port, which holds a strategic geographical location and is a leading logistics center in Europe and the Adriatic region. Through this connection, leveraging its strengths in seaports and logistics, Slovenia aims to serve as a closer, faster, and more cost-effective bridge for Vietnamese goods to access the EU market, especially Eastern European and Central European countries. Conversely, Vietnam can serve as a gateway to help Slovenian businesses access the ASEAN market and the broader Asia-Pacific region—markets where Vietnam has signed free trade agreements (FTA).
The two sides also agreed to continue maintaining strong traditional relations and to enhance exchanges at regional and international forums. They will regularly exchange official visits, particularly in 2024, when Vietnam and Slovenia will celebrate 30 years of establishing diplomatic relations.
At the end of the meeting, the Minister of Industry and Trade of Vietnam and the Deputy Prime Minister and Minister of Foreign Affairs of Slovenia jointly signed the minutes of the 3rd session of the Vietnam-Slovenia Intergovernmental Committee. The signing took place in the presence of representatives from both countries, Slovenian state officials, and the press agency.
Speaking to the local press after the meeting, Minister Nguyen Hong Dien emphasized that the two parties are currently facing numerous new opportunities and challenges. Consequently, both parties need to continue fostering the Intergovernmental commission mechanism and the EVFTA, including Slovenia. Additionally, Minister Dien urged Slovenia to expedite the ratification of the EVIPA, creating favorable conditions for businesses in both countries to invest and collaborate in each other's markets.
Vietnam acknowledges Slovenia's outstanding successes in high technology, digital trade and services, and energy transition. These are areas ripe for future investment and cooperation, and Vietnam hopes Slovenian investors will explore investment opportunities in Vietnam soon. Minister Nguyen Hong Dien's perspective was well-received by the Slovenian side, who affirmed their commitment to prompt exchanges and enhanced cooperation.
Business Dialogue Round Table
On October 9, 2023, following the Intergovernmental Commission meeting, the Vietnam Trade Promotion Agency and the Slovenian Chamber of Commerce and Industry jointly organized a dynamic Business Dialogue Round Table. The event attracted a significant number of businesses from both countries.
At the event, businesses from both countries had the opportunity to meet, learn, and engage in B2B discussions to explore cooperation and investment possibilities between the two nations, leveraging the preferential commitments of the EVFTA. Through substantial and effective exchanges, many businesses identified potential cooperation partners right at the event.
Minister Nguyen Hong Dien met bilaterally with Mr. Matjaž Han - Minister of Economy, Tourism and Sports of Slovenia.
On the same afternoon, Minister Nguyen Hong Dien held a bilateral meeting with Mr. Matjaž Han, the Minister of Economy, Tourism, and Sports of Slovenia. The two ministers agreed that there is ample room and opportunity for development cooperation between the two countries. They acknowledged the significant potential for economic and trade cooperation, and specific steps were exchanged to materialize these prospects in the coming time.
The two ministers emphasized that the successful signing of the minute of the Third meeting of the Intergovernmental Commission for Economic Cooperation between Slovenia and Vietnam is just the beginning. The more crucial aspect is how the two parties will organize and implement the agreements in the future. Both ministers agreed to instruct the technical teams on both sides to continue facilitating favorable conditions for goods to access each other's markets more easily, eliminating trade barriers—especially administrative procedures—to enhance two-way trade. They also discussed increasing mutual information about changes in import and export policies within each country and the region. This information exchange aims to assist businesses in implementing their production and business strategies more effectively. Moreover, they expressed the need to create conditions for businesses from both countries to actively participate in trade promotion activities, helping them find partners and maximize their abilities, advantages, dynamism, and creativity to achieve more specific and substantive results.
Minister Nguyen Hong Dien proposed that the two parties enhance closer cooperation in the field of transport and logistics, particularly in sea and air transport. This collaboration aims to position each party as a significant transshipment center in the global and regional production and supply chain. Both countries are encouraged to effectively leverage opportunities arising from the EVFTA and further strengthen cooperation in the industrial sector. Special emphasis should be placed on fundamental industries such as mechanics, processing, manufacturing, electronics, supporting industries, materials, chemicals, and pharmaceuticals. Simultaneously, there is a call to develop new and essential areas of cooperation that are mutually beneficial and align with Slovenia's strengths, including green transition, energy transition, and the application of science, technology, and innovation.
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