UAE and Slovenia explore ways to boost economic ties and investment

The UAE and Slovenia held talks to explore ways to enhance trade between the two countries. Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, and Zdravko Pocivalsek, Slovenia's Deputy Prime Minister and Minister of Economic Development and Technology, discussed ways to develop the existing economic partnership and expand areas of co-operation, the Ministry of Economy said on Wednesday.

The meeting focused on the opening of direct channels of communication between the private sectors of the UAE and Slovenian. The UAE is keen to advance co-operation with Slovenia in areas such as food security, agriculture, technology, infrastructure, tourism and family companies, while benefiting from Slovenia’s strong industrial base, Mr Al Zeyoudi said.

Non-oil trade between the UAE and Slovenia grew 23 per cent in 2021 from the previous year and outperformed pre-coronavirus levels in 2019 by 13 per cent, the ministry said. The latest discussions explored ways to double the movement of imports and exports in vital sectors of common interest, apart from the diversification of qualitative and future investment over the coming period.

Future investment will focus on health, logistics, information and communication technology, e-commerce, tourism, real estate activities, financial services and insurance, and agricultural technology, the ministry said.

The UAE’s position as a vital trade gateway for Slovenian exports to enter the Asian and Middle Eastern markets, and Slovenia’s strategic location in the Eastern European region “must be capitalised on”, Mr Al Zeyoudi said.

The talks between the ministers also focused on ways to improve air connectivity between the two countries by increasing the number of direct flights. Flydubai became the first UAE airline to fly direct to Slovenia last September, with the launch of three weekly flights to the country's capital, Ljubljana.

“The economic co-operation between the two countries continued its momentum and pace of activity despite the impact of Covid-19 in all sectors globally. In the coming period, we will strive to accelerate this momentum by deepening economic co-operation with the UAE, and by enhancing the access of our business communities to the markets of the two countries,” Mr Pocivalsek said.

Mr Al Zeyoudi also called on the Slovenian business community to take advantage of the opportunity offered by Expo 2020 Dubai and build future partnerships in the economic, tourism, culture, trade, investment and talent attraction sectors.