Saudi Slovenian business collaboration highlighted at Riyadh forum, boosting trade and investment

The Saudi Slovenian Business Collaboration is gaining momentum as Saudi Arabia and Slovenia strengthen their economic ties, focusing on technology, tourism, and automotive industries. The Saudi-Slovenian Business Forum, held by the Federation of Saudi Chambers on 8 December in Riyadh, brought together leaders and stakeholders from both nations to explore new collaborative opportunities.

The forum was attended by the Saudi Minister of Economy and Planning Faisal Al-Ibrahim and the Slovenian Minister of Economic Development and Technology Matjaz Han. Over 60 Slovenian companies spanning nine key sectors joined the event, alongside a delegation from Slovenia’s Chamber of Commerce and Industry. Discussions centred on Saudi Arabia’s Vision 2030 and Slovenia’s export-driven economy, setting the stage for enhanced bilateral ties.

Al-Ibrahim highlighted milestones achieved since his visit to Slovenia last year, including the signing of a memorandum to establish a joint business council. He underscored the shared synergies between the two economies, particularly in transformative industries such as technology, tourism, and advanced manufacturing. The minister urged Slovenian businesses to seize the opportunities offered by Vision 2030 initiatives, emphasising the critical role of private sector engagement in creating a sustainable roadmap for economic cooperation.

Han echoed the sentiment, noting Slovenia’s robust export economy, with 80 per cent of its GDP tied to international trade. He spotlighted Slovenia’s expertise in automotive engineering, infrastructure, and technology, including artificial intelligence, digitisation, and cybersecurity. Han also encouraged Saudi investors to explore Slovenia’s growing sports and tourism sectors, which he described as ripe for development.

Trade between the two nations has shown significant growth. Exports from Slovenia to Saudi Arabia rose from $18.4 million in 1995 to $133 million in 2021, with total trade volume reaching $230 million in 2023, representing a 192 per cent increase from the previous year. This progress reflects the strengthening ties and mutual interest in deepening economic collaboration.

The forum featured presentations on investment opportunities in both countries, success stories of Slovenian businesses operating in Saudi Arabia, and insights into Slovenia’s biotechnology and tourism sectors. Participants expressed optimism about the potential for further growth, underscoring the importance of fostering partnerships that align with their shared vision for innovation and diversification.

The Saudi-Slovenian Business Forum marks another step in the evolving relationship between the two countries, laying the groundwork for future collaborations that promise mutual economic benefits.