Following a meeting between Slovenia's Minister of Digital Transformation Emilija Stojmenova Duh and Saudi Arabia's Minister of Economy and Planning Faisal Alibrahim, trade and economic links between the two countries are anticipated to strengthen.
On the sidelines of the most recent World Economic Forum event in Tianjin, China, the ministers met. According to insiders, the two discussed possible areas for bilateral collaboration and looked at solutions for problems of shared concern.
According to the Observatory of Economic Complexity trade data portal, Slovenia and Saudi Arabia already have significant economic relations, with exports from the European nation to the Kingdom growing at an annualized rate of 7.9 percent, from $18.4 million in 1995 to $133 million in 2021.
In 2021, the Kingdom shipped commodities worth $352 million to Slovenia, including $320 million in refined petroleum, $9.26 million in ethylene polymers, and $3.36 million in propylene polymers.
Slovenian exports comprised sawn timber valued at $24.3 million and packaged pharmaceuticals for $18.2 million.
Over time, the diplomatic ties have also developed. On June 25, King Salman congratulated Natasa Pirc Musar of Slovenia on the occasion of her nation's Statehood Day.
A 50-person Slovenian group visited Saudi Arabia in November 2022 to look into prospective investment opportunities in the Kingdom.
At the Federation of Saudi Chambers' main office, business executives from the Kingdom met with representatives of 50 companies from a range of industries.