Ljubljana, 19 May (STA) - The relations between Slovenia and Norway are good but trade volumes are modest, heard an event on business opportunities in Norway held on Monday. But trade is to be boosted by the Slovenian-Norwegian Business Association launched at the end of February.
The relations between the countries have been very good since Slovenia gained independence, Deputy Ambassador Herman Baskar from the Norwegian Embassy in Budapest said. There is still a lot of potential for the strengthening of economic cooperation, he said.
Last year Slovenia exported EUR 92 million of goods to Norway and imported EUR 19 million of goods for a total trade of EUR 110 million. Slovenia ranked 53rd among Slovenia's most important trade partners, shows data by Export Window portal.
Shared values play an important role in efforts to boost business cooperation, Honorary Consul of Norway in Slovenia Nataša Pipan Nahtigal said. Both countries are committed to democracy, human rights and the rule of law, they invest in public education, work to protect the environment, and ensure gender equality. They both rank highly on the quality of life index, she said.
"In the current difficult situation as Slovenia looks for new trade partners, it is very important to look for partners among similar countries," Pipan Nahtigal said.
The largest Norwegian investor in Slovenia is the state pension fund Norges Bank Investment Management. It has invested in companies including pharma company Krka, port operator Luka Koper, telco Telekom Slovenije, NLB bank and insurers Sava and Triglav. At the end of 2024 its investments amounted to EUR 73 million, Pipan Nahtigal said.
The Slovenian-Norwegian Business Association, founded in February, will aim to increase trade between the countries to EUR 600 million by 2030, the association's secretary Primož Kristan said. "We set up a platform that will promote economic cooperation between Slovenian and Norwegian companies with the focus on small and medium enterprises," he said.
Among key areas of cooperation he stressed cooperation in hi-tech, green technology, industrial products, research and development, sports and tourism. The association also sees opportunities for cooperation in the food industry with Slovenian wines as an interesting product for the Norwegian market.
They are working to improve the visibility of Slovenian companies and flight connections between the countries. The association will also organise B2B meetings, investment conferences and other events, Kristan said.
Talks are ongoing with the Jožef Stefan Institute (JSI) to set up a platform for technological cooperation through the Strategic Research-Innovation Partnership SRIP Factories of the Future that the JSI is coordinating, Kristan said.
