BAKU, Azerbaijan, October 19. Uzbekistan has held a key position as Slovenia's main trading partner in Central Asia since 2021, a source at the Ministry of Foreign Affairs of Slovenia told Trend.
The source noted that Uzbekistan stands out as the sole Central Asian country with which Slovenia has finalized crucial economic agreements, achieved through the signing of the intergovernmental agreement on economic cooperation.
“In the realm of international collaboration and innovation, significant strides have been taken in fostering economic and technological partnerships between Uzbekistan and Slovenia,” the ministry said.
The ministry further noted that the National Office of Innovations under the Ministry of Higher Education, Science, and Innovation in the Republic of Uzbekistan, has recently established direct communication with several highly innovative Slovenian companies, including Elaphe Propulsion Technologies Ltd.
“The partnership between top engineers of Uzbekistan and Slovenia is aimed to develop and launch a new type of hybrid car production in Uzbekistan,” the source explained.
Moreover, the Slovenian ministry commented on the potential areas of cooperation.
“During the working visit of Deputy Prime Minister and Minister of Foreign and European Affairs of the Republic of Slovenia Tanja Fajon to Uzbekistan in February 2023, a business delegation of 12 Slovenian companies accompanied her. All of these companies are of global renown and from areas where we see the potential for expanding economic cooperation, such as energy efficiency, digital transformation of industries, engineering and high technologies, as well as woodworking and sports,” the ministry said.
Stressing the importance of Uzbek-Slovenian trade relationship, the source noted that trade in goods between the two countries increased by 60 percent and amounted to 108.5 million euros in 2022 compared to the 2021 calculations.
"Slovenia's exports reached 106.5 million euros, showing a notable 58-percent increase, with pharmaceutical products continuing to dominate. On the other hand, Slovenian imports surged by 341 percent to nearly 2 million euros," he said.
The ministry mentioned that the positive trajectory persists in 2023, with the trade in goods for the first six months of the year witnessing a 14 percent increase, reaching 46.9 million euros.
"Slovenian exports amounted to 45.3 million euros, marking a 13 percent growth, while Slovenian imports stood at 1.6 million euros, showing a 20 percent increase. Slovenian direct investments in Uzbekistan stood at 0.2 million euros at the close of 2021," the ministry said.