India, Slovenia: Economic Cooperation & FTA

Kolkata, Nov 18 (PTI) India and Slovenia are poised to significantly enhance their economic cooperation, with an upcoming Free Trade Agreement (FTA) and collaborations in sectors like green technology and pharmaceuticals set to provide a major impetus, Slovenian Ambassador to India Tomaz Mencin said on Tuesday.

Speaking at the Merchants' Chamber of Commerce & Industry (MCCI) here, Mencin highlighted that the two countries have already decided to collaborate on the production of medical instruments.

"The two countries are set to sign a Free Trade Agreement (FTA), which is expected to enhance bilateral trade and investment. The Indian Embassy is active and developing niches of cooperation," the envoy said in a statement.

The envoy of the central European country highlighted key sectors including green technology, logistics & transport, pharmaceuticals, and Information Technology, offering immense potential for investors and businesses in Slovenia.

"Slovenia is a country with a population of approximately 2 million people and a per capita income of 35,000 Euros. It has low-income inequality. Being a member of the European Union, Slovenia's economy is strong," Mencin said.

Arun Kumar Garodia, Chairman, Council on Foreign Trade, MCCI, mentioned that there is immense scope in sectors such as green technology, logistics and transport, pharmaceuticals, information technology, manufacturing, tourism, and education exchange.

He viewed that by encouraging joint ventures, business delegations and knowledge sharing, India and Slovenia can turn possibilities into partnerships.