The total value of the trade between Slovenia and the Middle East reached 652 million euros in 2020: in 10 years the trade grew by 42 percent. But there are still many unexplored opportunities.
The total value of the trade between Slovenia and the Middle East reached 652 million euros in 2020: in 10 years the trade grew by 42 percent. Slovenia’s main Mideast partners are Israel (24 percent of the total value of the trade), closely followed by Egypt (22%) and Saudi Arabia (21%).
Slovenian companies have been active in the region for years and have been gradually increasing their presence – even though this presence is still merely symbolic for many of the larger companies. Home appliances maker Gorenje tried to enter the market a decade ago. So did pharmaceutical companies like Krka. Yet the region doesn’t even appear in Krka’s annual report as a separate item. Argeta, the world’s largest producer of pâtés, respects halal rules and has been successfully exporting to the region. ICT company Iskratel sells directly to Iraq and is also present in Egypt and Saudi Arabia. For Duol, however, the Middle East is one of the key markets. Duol’s custom-made air supported domes are energy efficient and designed for extreme weather conditions – like those found in the desert. Recently the company finished construction of the largest air dome in the Middle East in Abu Dhabi.
Mideast investors are slowly discovering the Alpine republic. Egyptian company El Sewedy Electric acquired Slovenian tech company Iskraemeco, a producer of electrical energy measurement and control devices. Dubai’s Emkaan Investment took over Radeče Papir Nova – manufacturer of high-end specialized papers used for banknotes and personal documents. There’s hardly any notable Slovenian investment in the region. However, UAE-based Gorica Group, the leading manufacturer of trailer vehicles in the Middle East and Northern Africa, has been set up by Slovenian entrepreneur Ivan Fornazarič.
