Last week, the Minister of Economic Development and Technology, Matjaž Han, accompanied by Slovenian business representatives, paid a working visit to North Macedonia. The minister, who met the Macedonian Minister of Economy, Kreshnik Bekteshi, called for the further strengthening of economic cooperation between the two countries.
The minister was accompanied by a business delegation consisting of 27 representatives of Slovenian companies from the sectors of construction, logistics, new technologies, the materials industry, trade, banking, publishing and the aviation industry. The Slovenian-Macedonian forum for economic cooperation is also being attended by 70 Macedonian companies.
Minister Han commented on the good relations between the two countries and the importance of bringing North Macedonia closer to the European Union, which would further boost the country’s economic development by facilitating access to a half-billion-dollar market and new sources of financing.
In his address to participants at the Slovenian-Macedonian forum for economic cooperation, Minister Han highlighted the growth in economic cooperation between Slovenia and North Macedonia, particularly when it comes to investments by Slovenian companies. He also emphasised the possibilities for furthering cooperation: above all in IT, telecommunications, the production of organic food, the energy sector and tourism, especially spa tourism. It is also particularly important to include all the above sectors, as far as possible, in the green transition and the circular economy.
As part of the visit the ministers discussed strengthening economic cooperation and investment. They expressed their commitment to setting up direct flights between the two countries as soon as possible, and Minister Han invited North Macedonia to the International Trade Fair MOS in Celje next year, where it would participate as a partner state.
Slovenia is also cooperating with North Macedonia in the field of development – it has donated EUR 200,000 for the project to digitalise North Macedonia’s State Archives. Cooperation in the field of university education is also good – in the last academic year alone more than 1,300 Macedonian students attended undergraduate and postgraduate programmes at Slovenian universities.
Last year, trade between the two countries amounted to EUR 433 million, which is almost 25 % more than in 2020. Exports amounted to almost EUR 265 million (+21.7 %), and imports accounted for EUR 170 million (+31.6 %). The main exports were pharmaceutical products (19 %), electrical machinery and equipment (10 %) and mechanical devices (9 %), while the main imports were electrical machinery and equipment (41 %), pharmaceutical products (14 %), and vehicles and vehicle parts (8 %). In the first six months of 2022, the value of merchandise trade was up 14% on the same period last year. Last year merchandise trade amounted to EUR 374 million (+23 %) and the trade in services was worth EUR 59 million (+33 %).
In 2021, the value of Slovenian investments in North Macedonia was EUR 457.8 million (a 9 % increase from 2020). This represents 5.8 % of all Slovenian investments abroad, placing North Macedonia in fifth position among countries in which Slovenian companies invest. Investments from North Macedonia in Slovenia totalled EUR 46.3 million. North Macedonia is defined as a priority in Slovenia’s strategy to internationalise its market.
Source: GOV.SI
