India’s trade with
Slovenia has increased by 55.19% during the financial year 2001-02
at US $ 54.86 million as compared to US $ 35.35 million during
the last year. The bilateral trade has already touched US $
53.47% during the current financial year 2002-2003 (April-October)
and is further expected to increase. Shri S.N. Menon, Additional
Secretary, Ministry of Commerce & Industry, indicated this,
at the inaugural session of the 4th Indo-Slovenian
Joint Committee meeting, here today. Ms. Renata Vitez, State
Secretary, Foreign Economic Relations, Ministry of Economy was
present at the meeting as the co-chairperson from Slovenian
side. The 4th Indo-Slovenian Joint Business Council
is also being held in which representatives of trade & industry
from both the countries are taking part.
During his address,
Shri Menon said that the trade between the two countries was
much lower than its potential and both the government and business
community must find innovative ways to augment it. In this context
he indicated that both sides had signed the Agreement on Avoidance
of Double Taxation and stressed the need to work out many key
bilateral agreements to promote the trade between the two countries.
In her address, Ms. Renata informed that Slovenia would become
the full member of European Union (EU) with effect from May
1, 2004 and said that it would bring huge opportunities for
Indian business community to do business with Central Europe.
The major items
of export from India includes Coffee, Drugs, Pharmaceuticals
and Fine Chemicals, Cotton Yarn, Fabrics and Electronic Goods
whereas the major items of import from Slovenia includes Machinery
except electric and electronic, Electronic Goods, Organic Chemicals,
Leather etc.
