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Business Profile
Economy: Before the disintegration of Yugoslavia that began in 1991, Slovenia was its richest and most industrialised republic. With few natural resources, Slovenia was initially seriously affected by the civil war and the collapse of the Yugoslav federal market. However, careful economic management enabled a solid recovery. The agricultural sector is fairly small, growing cereals, sugar beet and potatoes but the large areas of forest, covering about half the country, are an important natural resource. The mining industry is mostly concentrated on coal, but zinc and lead are also extracted along with small quantities of oil, gas and uranium. The manufacturing industry, which accounts for about 30 per cent of GDP, produces electrical equipment, textiles, wood-based products (including paper), chemicals and processed foods. The service sector is dominated by tourism and financial services. The tourism industry was almost annihilated during the early stages of the Yugoslav civil war when Slovenia was most heavily involved; it has since re-emerged and is now worth about US$1 billion annually.
Financial services are well developed, especially banking and insurance. Successive governments have moved cautiously to reform the economy, introducing market-oriented reforms gradually and largely successfully. Inflation and unemployment are both currently around seven per cent respectively, while the economy is growing moderately at three per cent annually. Slovenia has joined the IMF, World Bank and the European Bank for Reconstruction and Development, and became a full member of the World Trade Organisation in July 1995. It also has an association agreement with the EU and is in the ‘first wave’ of countries seeking to join the EU: membership is likely to be attained around 2003/4. Germany, Italy, France and Austria are particularly important trade partners; outside the EU, Croatia is most valuable to Slovenian trade.
Business: Smart dress is advised. Appointments are usual and visitors should be punctual. Visiting cards are essential. Slovenia is the most efficient and reliable of the ex-Yugoslav republics, being in many respects comparable to Austria and Germany. Executives will generally have a good knowledge of German, English and sometimes Italian. There is a well-developed network of local agents, advisers, consultants and lawyers willing to act for foreign companies. Office hours: Mon-Fri 0800-1600.
Commercial Information: The following organisation can advise on specific trading organisations: Chamber of Commerce and Industry of Slovenia, Dimiceva 13, 1504 Ljubljana (tel: (1) 589 8000; fax: (1) 589 8100 or 589 8200; e-mail: infolink@gzs.si; website: www.gzs.si).
Conferences/Conventions: Slovenia’s tradition as a meeting place goes back to 1821, when it played host to the Congress of the Holy Alliance. The main conference locations are Ljubljana, Bled, Portoroz, Radenci and Rogaska Slatina, where there are meeting facilities for up to 2000 participants. For more information, contact Conferences and Conventions Department of the Slovenian Tourist Board (see Contact Addresses section); or Cankarjev dom, Culture and Congress Centre, Presernova 10, 1000 Ljubljana (tel: (1) 241 7100; fax: (1) 241 7298; e-mail: cankarjev.dom@cd-cc.si; website: www.cd-cc.si).
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