The Hindu Business Line : `Slovenia joining EU will open up opportunities for India'

Speaking at an interactive meeting at the Federation of Indian Chambers of Commerce and Industry (FICCI) here on Monday, Dr Dimitrij Rupel, Minister of Foreign Affairs, Republic of Slovenia, said, "Slovenia expects a better environment and new opportunities for economic cooperation with India once it joins the EU."

After the accession, Slovenia will automatically become a part of the trade agreements between India and the EU. With the legal framework for economic cooperation being developed, the future now seems to be in favour of enhanced bilateral trade cooperation between the two countries.

The Agreement on the Avoidance of Double Taxation was signed in January 2003. Mr Rupel indicated that negotiations of the Agreement on the Promotion and Protection of Investments are to be concluded soon.

The Minister, however, observed that the Agreement on the Commercial and Economic Cooperation of 1993 would have to be consensually modified.

He also stated that the Agreements on Avoidance of Double Taxation and on Promotion of Investments would remain in the competence of Slovenia even after the accession.

Urging Indian enterprises to take advantage of Slovenia's accession, the Minister indicated that the development was also likely to offer new possibilities for trade in services.

He also highlighted the strategically located Port of Koper, which can become India's gateway to Central and Eastern Europe.

"In view of the extensive overseas trade between India and Europe, the Port of Koper wishes to establish improved container and conventional maritime lines with India," he added.

According to him, Indian companies should not only look at Slovenia as a place for investment within the European Union but on the border of South-Eastern Europe. He said, "Consider Slovenia as a regional headquarters for business in the region."