June 13, 2011 / 22:59 IST
The Government of Slovenia on Monday welcomed Indian companies to set up their businesses in the European country and benefit from the innovations it has to offer.
"I would like to invite your business community to come and invest in Slovenia and search for opportunities," Republic of Slovenia Prime Minister HE Borut Pahor said at an event organised by industry body CII.
Pitching strongly for his country as an attractive investment destination, Pahor said if a company came to Slovenia in search of business opportunities and was not satisfied with the prospects, then the Slovenian Government would refund the money to the company.
Slovenia would offer an export-oriented economy, excellent infrastructure and high-quality research institutions, he said.
"During my visit in India, a series of agreements and memoranda of understanding will be signed and they range from science and technology, aviation promotion, mutual protection of investments and energy," he said.
On trade between India and Slovenia, Pahor said, "Our bi-lateral trade is of a small volume and we are here to extend it. Last year our bi-lateral trade grew by 15%. However, our trade in absolute terms remains slow. Its potential, this year, should and will multiply".
He exuded confidence that his visit would enhance co-operation and this would benefit both the countries.
Slovenia has no tax incentives for corporates but it provides financial assistance to set up factories in the country.
The Slovenian Government is close to signing the Free Trade Agreement (FTA) with India, Republic Of Slovenia, Ministry of Foreign Affairs Directorate for Economic Diplomacy and Development Cooperation, Vladimir Gasparic, told reporters on the sidelines of the event.
He said bi-lateral trade was increasing and added "It is a good trend but currently the amount is less than Euro 300-million, which is far below from what we can do."
He said that the Slovenian delegation to India comprised of representatives of 40 Slovenian companies and that most of them would introduce their best products to Indian customers, hoping to find market co-operation or may be even a joint production over.
"We see a strong feasibility in the aviation business," he said, adding that the Slovenian electric aircraft-maker Pipistrel was in India competing for a project, but did not divulge details.
Gasparic said that Air India and Slovenian national airlines Adria Airways would have talks tomorrow on the possibility of establighing Slovenia as a regional hub in Central Europe and fly from that country to other destinations.
"Airport Authorities of Slovenia are here. Minister of Transportation has come specifically because of that (proposed deal between the airlines). We are very focused," he said.
The Slovenian Prime Minsiter has also spoken to the Tata Group for exploring the possibility of exporting Tata-made cars through Slovenian ports.
"We are also interested in getting more products from India though we have a trade deficit with India," he said.
