BILATERAL RELATIONS USA - SLOVENIA

Sava, Rubber and Chemical Industry, d.d.

Goodyear Engineered Product Europe

Sava Tires, Tire Manufacturing Company, d.o.o.

In 1998, Slovenia's exports to the US increased by 3.6% compared to the previous year, and its imports by 2.7%. The total volume of the exchange of goods, amounting to USD 547.117 million in 1998, means that the exchange rose by 3.6% compared to 1997.

In terms of exports, the US is Slovenia's 7th biggest partner and, in terms of imports, it is the 6th. Exports to the US account for a 2.8%-share of all Slovenian exports, while imports from this country represent 2.9% of total imports.

The most important products Slovenia exported to the US in 1998 were seats (11.5%), glass products (9.8%), other furniture (8.0%), medicine (6.0%), aluminium rods (6.0%), refrigerators, freezers and other cooling devices (4.2%).

Products imported by Slovenia from the US in 1998 included devices for automatic data processing (13.3%), nuclear reactors, fuel elements (4.8%), raw skins (3.9%) and electronic integrated circuits (3.7%).

At the economic level, the problem is the too low presence and recognition of Slovenian products and the whole economic sector, as a consequence of Slovenian companies exporting via third markets or under foreign trademarks.

The US Business Council (USBC) is the only official institution connected with the economic co-operation with Slovenia supported by the State Department. According to the Americans, the USBC has 120 members, mostly from the banking, counselling and legal service sectors. There are a few representatives from industry.

The Slovenian-American business community gathers together representatives of Slovenian companies, the LBS bank and the Slovenian Tourist Office in New York. It was founded five years ago by the representatives of Slovenian companies in America. It presently includes 30 companies, with the largest being Impol, Krka, Lek, Metalna, Nova LB, SK Products - Slovenijales, Steklarna Rogaška, Slovenian Tourist Office.

Business Contacts:

• On 9 and 10 October, 1997 Slovenia hosted a 30-member delegation of representatives of American companies, most of whom were looking for strategic partners to jointly enter European markets, while others focused on selling their products and identifying buyers or distributors.
• On 29 January, 1998 a Slovenian-American inter-ministerial dialogue took place in Slovenia. The economic working group was headed by the State Secretary for International Economic Relations Vojka Ravbar.
• Meeting the American Secretary of Trade William Daley at the East-West Conference in January 1998 in Prague, Minister of Economic Relations and Development Dr Marjan Senjur invited Mr Daley to visit Slovenia; however this visit has been postponed.
• From 3 to 5 November, 1998, Slovenian Prime Minister Janez Drnovšek paid an official visit to the US. The delegation also included Minister of Economic Relations and Development Dr Marjan Senjur, Minister of Foreign Affairs Dr Boris Frlec and Minister of Finance Dr Mitja Gaspari, as well as a large group of economists.
• Between 9 and 13 January, 1999 Slovenia hosted Prof. Dr Hisrich from the Case Western Reserve University, together with 20 MBA students.

Main exporting companies

Lek, Ljubljana;
Rogaška Commerce, Ljubljana;
Impol, Slovenska Bistrica;
Gorenje G.A., Velenje;
Metalna Ecce, Maribor;
SZ Metal, Ravne.

Main importing companies

Nuklearna elektrarna, Krško;
IUV, Vrhnika;
Hermes Plus, Ljubljana;
Lek, Ljubljana;
Adria, Ljubljana;
Elbatex, Ljubljana.

Important economic agreements

• Agreement on Reciprocal Protection and Promotion of Investment;
  The Agreement has not yet been signed by both sides.
• Agreement between the Government of the RS and the Government of the USA on Promoting Investments.
• Slovenia signed the agreement on collateralising investments, cre-d-iting and investment guarantees, fully or partially supported by the US Government and carried out by the Overseas Private Investment Corporation (OPIC) as the agent of the US Government. The Agreement was signed on 26 April, 1994 in Washington for an indefinite period. It took effect on 8 September, 1994 and is published in RS Official Gazette no. 15/94.

Source:
Ministry of Economic Relations and Development
Chamber of Commerce and Industry of Slovenia