BAKU, Azerbaijan, April 16. The main task of the first meeting of Slovenia-Azerbaijan Economic Cooperation Working Group to be held in Baku will be to identify concrete business and investment opportunities, Deputy Prime Minister, Minister of Foreign and European Affairs of Slovenia Tanja Fajon said in an exclusive interview with TurkicWorld ahead of the visit to Azerbaijan.
"We are pleased with the positive and regular political dialogue between our two nations. As we approach the 30th anniversary of diplomatic relations in February 2026, we are proud to reflect on the deepening of ties between Slovenia and Azerbaijan. The main objective of my official visit to Baku is to further strengthen the bilateral partnership between our respective countries, focusing on expanding cooperation in political, economic and multilateral areas of mutual interest. My wish is to provide a platform to advance our common goals, particularly in the energy sector, where Slovenia and Azerbaijan have made significant progress in recent years. A key focus is to continue to build on the positive economic developments, especially in energy cooperation," she said.
Fajon pointed out that Azerbaijan is an important trade partner for Slovenia in the region.
"In 2024, the value of trade between the two countries increased by 57%, reaching EUR 37.7 million. We look forward to further strengthening economic cooperation between our two countries, to which both the Azerbaijani-Slovenian Business Forum and the inaugural meeting of the Working Group on Economic Cooperation, which will be held in Baku on 17 April 2025, will undoubtedly contribute. Both countries have substantial markets and strategic positions that offer valuable opportunities for expanding business activities," noted the deputy PM.
She went on to add that as a young and dynamic country, Slovenia is proud of its membership in the world’s most important international organizations, including the OECD.
"Our achievements are well recognized in the multilateral arena: in the beginning of 2025, Slovenia became a full member of the European Space Agency (ESA) and is now preparing for full membership of the European Organization for Nuclear Research (CERN). Our country also hosts the headquarters of UNESCO’s International Research Centre on Artificial Intelligence (IRCAI). With its advanced high-tech expertise and innovative achievements, Slovenia offers a highly skilled workforce, excellent infrastructure, access to regional markets and a high quality of life. Slovenia has an open, export-oriented economy with a broad industrial base, ranging from pharmaceuticals to information technology and the automotive industry. During my visit to Baku, I will be accompanied by representatives of a number of Slovenian companies from a wide range of sectors, including information and communication technology, unmanned vessel manufacturing, maritime automation systems, construction and manufacture of metal structures," said the deputy PM.
Fajon pointed out that Slovenia is the first country in the world that was awarded the title of a Green Destination of the World.
"Slovenia and Azerbaijan have traditionally enjoyed close cooperation in the pharmaceutical sector; international generic pharmaceutical companies Krka and Sandoz have been present in Azerbaijan for many years, as well as in the field of information technology through the company Kontron. There is further potential for increased cooperation in the construction of small hydropower plants, photovoltaics, sports infrastructure, the electrical engineering industry and the use of space technologies for river basin management and climate resilience," she said.
Fajon noted that today’s global circumstances require companies to remain adaptable and explore business opportunities in new markets.
"In the context of the war in Ukraine, Azerbaijan has become particularly important for the development of the Middle Corridor for East-West Trade, which is set to become the fastest and most direct trade route between Asia and Europe. The Slovenian-Azerbaijani Business Forum, organized by SPIRIT Slovenia and AZPROMO, takes place on the sidelines of the official visit and provides an excellent platform for expanding business relations, promoting direct investment and opening up new opportunities for both countries. In addition, the first meeting of the Economic Cooperation Working Group has set the stage for a future of increased cooperation and growth in various sectors," she said.
The Slovenian deputy PM noted that the recent signing of a Memorandum of Understanding (MoU) on energy cooperation is a decisive step in strengthening the partnership in the crucial sector of energy.
"The MoU paves the way for increased collaboration in energy production, supply and innovation, which is vital not only for our two countries, but also for regional and European energy security. By fostering closer ties between Slovenian and Azerbaijani businesses, we aim to create new opportunities for trade, investment and innovation. The Business Forum will be a key event during this mission, highlighting the potential for further economic cooperation. In addition to economic objectives, we are also committed to continuing our efforts to promote regional stability," she said.
She said that Slovenia, as a member of the EU and, at the moment, also as a non-permanent member of the UN Security Council, is a staunch supporter of regional stability and swift resolution of regional issues, including in the South Caucasus. "It encourages all parties to move towards a peace agreement without further delay. Peace and stability in the region are vital not only for our two countries, but also for wider regional and global security".
Fajon noted that Slovenian and Azerbaijani economies share many similarities, which provide a solid basis for building future cooperation.
"Our two countries are firmly committed to transboundary water cooperation and are parties to the Water Convention, which Slovenia will chair for the next three years. Both countries are also active members of the International Renewable Energy Agency (IRENA). Slovenia has been elected to chair the IRENA Assembly in 2025 and we look forward to working with Azerbaijan to achieve our shared goals. Given that Slovenia recently won an EU tender for the development of a high-performance supercomputer and artificial intelligence factory, the field of digitalization offers significant potential for cooperation. At the Ministry of Foreign and European Affairs, we have placed science, technology and innovation alongside economic and cultural diplomacy. We believe that science diplomacy is a key instrument for promoting Slovenia’s strategic priorities. Our goal is to make it one of the core tools for enhancing competitiveness, while also contributing to sustainable development and overall prosperity," said the deputy PM.
She went on to add that in Slovenia, smart specialization serves as a platform for connecting Slovenian companies with research institutions in various fields.
"From the perspective of internationalization, the most relevant of these are the Strategic Research and Innovation Partnerships (SRIPs) for the circular economy, smart factories and digitalization. These areas offer significant potential for closer cooperation between relevant institutions, educational establishments and businesses. Slovenia is the third most industrialized country in the EU and makes significant investments in the circular economy, sustainable tourism, robotics, digitalization, space and creative industries. I am pleased that the first meeting of the Economic Cooperation Working Group will take place in Baku during my visit. Its main task will be to identify concrete business and investment opportunities," said Fajon.
She noted that Slovenian companies have so far identified opportunities in Azerbaijan in the energy sector, with a focus on renewable energy sources such as solar and wind power plants, as well as energy efficiency technologies.
"Construction and infrastructure are also promising sectors. In industry and manufacturing there is potential for cooperation in production modernization, automation and the supply of high-tech equipment. There are also opportunities in agriculture and the food industry, particularly in technological solutions to increase productivity and the processing of local agricultural products. Information technology and digitalization are key to the future development of the economy, with Slovenian companies offering cutting-edge solutions in areas such as smart city development, cybersecurity and digital services. Companies such as C-Astral, Kontron and Medex are eager to explore new opportunities in sectors such as ICT, renewable energy (including photovoltaics and hydropower) and innovative food supplements," noted the Slovenian deputy PM.
She pointed out that another area where Slovenia hopes to stimulate growth is in water technology.
"Slovenia is inviting Azerbaijani companies to apply for the 2025 International European Water Awards, which will be presented at the Bled Water Forum on 4 and 5 June, under the patronage of President Nataša Pirc Musar, further strengthening our cooperation in this field. Through this visit, we aim to deepen our long-standing partnership with Azerbaijan and ensure that both countries continue to prosper politically, economically and diplomatically. Together, we will continue to work towards a peaceful, prosperous and stable future, contributing to the wider goals of regional and global cooperation," said Fajon.
She expressed satisfaction that last year, the Slovenian gas supplier Geoplin and the Azerbaijani state company SOCAR started business cooperation, which has already resulted in agreements for short-term products.
"I also welcome the recently signed Memorandum on Energy Cooperation between our two countries and fully support the continuation of talks between Geoplin and SOCAR with a view to concluding a medium- or long-term supply agreement, in which the Slovenian side is certainly interested," Fajon concluded.
