Slovenia expands trade partnership with Phl

The Slovenian government continues to recognize the Philippines as a vital trading partner, positioning the country as a prime destination for Slovenian investments in the coming years.

This commitment was emphasized by Tanja Fajon, Deputy Prime Minister and Minister of Foreign and European Affairs of Slovenia, during the signing of a Memorandum of Understanding (MOU) between the Philippine Chamber of Commerce and Industry (PCCI) and the Chamber of Commerce and Industry of Slovenia. The ceremony took place on Wednesday at the PCCI office in Bonifacio Global City, Taguig.

"Business is built on trust, shared values, and long-term partnerships. That is precisely why we are here — to listen, understand, and explore new possibilities together. There is great potential to expand economic ties," said Fajon.

Slovenia, an export-driven economy, generates over 80 percent of its gross domestic product (GDP) from exports. It is known for its expertise in engineering, advanced manufacturing, and world-class research.

Currently, Slovenia exports approximately €18 million worth of goods to the Philippines, including dairy products, pharmaceuticals, and amusement park equipment. Meanwhile, Philippine exports to Slovenia amount to about €6 million, consisting mainly of coconuts, electronic services, and other products. Fajon noted that the expanded MOU will provide a structured framework for trade and investment promotion, fostering stronger business partnerships.

For her part, Trade Secretary Cristina Roque highlighted Slovenia’s strong interest in key sectors such as manufacturing and industrial development, technology and digital economy, education and skills development, and sustainable business and green economy.

“By investing in the Philippines, you are not just accessing a 110-million-strong domestic market but also a highly skilled young workforce. We have made strategic policy shifts to foster a more business-friendly environment, including the CREATE MORE Act, a game-changer in foreign trade and investment,” Roque told the Slovenian delegation.

Signed into law on 11 November 2024, Republic Act (RA) No. 12066, or the CREATE MORE Act, aims to enhance the Philippines' attractiveness as a business hub by making its tax incentives system more competitive, investment-friendly, and predictable.

“Our participation in free-trade agreements, including RCEP (Regional Comprehensive Economic Partnership), positions us as a strategic hub for businesses looking to expand in Asia. The signing of the MOU is a significant milestone toward achieving our shared vision of economic prosperity. The Department of Trade and Industry (DTI) will take an aggressive approach in assisting businesses interested in investing in the Philippines,” Roque added.

The MOU, signed by PCCI president Enunina Mangio and Vesna Nahtigal, general manager of the Chamber of Commerce and Industry of Slovenia, outlines key initiatives to enhance economic cooperation. These include joint efforts in information-sharing and industry development, particularly in mobility, manufacturing, food and beverage, science, technology, and education.

"The parties shall endeavor to organize outbound and inbound trade and investment missions between the Republic of the Philippines and the Republic of Slovenia. In furthering these activities, the parties shall also assist in identifying appropriate business networks and contacts in their respective countries," the MOU states.

In a significant diplomatic milestone, Slovenia also formally inaugurated its embassy in Manila on Tuesday, marking its first and only diplomatic mission in Southeast Asia.