In the heart of Europe, and perhaps rightly known as ‘the region's best kept secret', Republic of Slovenia seems to have come of age.

With its economy on the recovery trajectory following the European crisis, and celebrating its twentieth year of independence this month, the tiny nation is rearing its head to eye markets beyond its neighbourhood.

India is one of the targets, with its promise of an emerging market and a country with which it shares a deep relationship since the time of President Josip Broz Tito when Slovenia was part of Yugoslavia.

On June 14, Slovenian Prime Minister, Mr Borut Pahor, with a team of ministers and industry leaders, is here on a three-day visit to expand trade and business possibilities between the two countries. Though on Sunday Mr Pahor suffered a serious political set back with Slovenians overwhelmingly rejecting his government's pension referendum to increase the retirement age to 65, it is unlikely to lead to his or his cabinet's resignation.

During the high-powered visit, Slovenia is seeking to double the volume of trade with India. Since 2009, there has been a sharp rise in bilateral trade, with a rise of 50 per cent in each direction. In 2010 the countries did two-way trade worth $302 million. Slovenia is also hoping that the upcoming Free Trade Agreement (FTA) between India and the EU will provide the necessary fillip.

“We support the FTA and feel it will be beneficial for us,” said Mr Pahor to a group of Indian journalists invited to Slovenia ahead of his visit here. To deepen the economic engagement the two countries have worked out a double taxation avoidance agreement.

On the cards are also two major logistics-based business opportunities and collaboration possibilities in health, medical tourism, goods and services, energy and research.

In the logistics space, Slovenia is in the process of working out a relationship between Air India, its airport company Aerodrome Ljubljana and its national carrier Adria Airways.

Slovenia's Ljubljana Joze Puchik Airport is located strategically at the intersection of two transport corridors which connect Central and South East Europe. The country is keen on offering the Indian carrier passenger and cargo facilities so that Ljubljana could be used for stopovers during long haul flights.

Also, Adria is looking at a code share agreement with Air India to target countries in the Balkan region and beyond. During Mr Pahor's trip there is expectation of a MoU being signed on this.

There is also potential for an understanding between Indian logistics companies and ports and Slovenia's Luka Koper (Port of Koper) to increase usage of its cargo-related facilities. Luka Koper boasts of its geo-strategic location at the head of the Adriatic Sea, and as the northern most reach of the Mediterranean.

Being a 2000 nautical miles shorter route from the Far East and India to Europe, it promises to cut down voyage by 6-8 days and offers motor and rail links to major cities such as Vienna, Prague, Budapest, among others. Currently a lot of cargo allocated for European markets lands in ports in the north of Europe.

“The key to obtaining the cargo is a shipping connection which must be direct… particularly interesting are connections with the Western Indian ports…we are also looking for an Indian shipping company to bring a container ship directly to Koper,” said Mr Gregor Veselko, CEO of Luka Koper.

The port is planning to build a third pier in order to increase capacity. “We are on the look out for consortium partners and investors for the project,” said Minister of Transport, Mr Patrick Vlacic.

During the visit, Slovenia also intends to generate investment interest among Indian companies. It is offering foreign direct investors 30 per cent in state grants, protection of investments and special treatment for big ticket FDI.

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