Bilateral relations with the Russian Federation
Interest of Slovenian companies in the activities of the Russian market is increasing every year, especially that economic growth has been noted in Russia for past several years. Nevertheless, cooperation with Russian enterprises continues to be in a specific business environment and in the conditions of fierce international competition.
Over the years, Slovenia and Russia exchanged visits at the highest level, which contributed to the strengthening of economic cooperation in all areas. An important tool for deepening cooperation in trade, economic and scientific-technical sphere is the Slovenian-Russian Intergovernmental Commission headed by Minister of Foreign Affairs of the Republic of Slovenia Miroslav Cerar and Minister of Communications and Mass Media of the Russian Federation Konstantin Yurievich.
The results of good cooperation are reflected also by statistical indicators, such as turnover of goods and services between the two countries. Among Slovenia's partners, Russia is ranked seventh in trade volume, fifth in the amount of Slovenian foreign direct investment, and fourth in the amount of tourists' stops in Slovenia.
In 2018 trade between Slovenia and Russia amounted to 1,416 billion euros. More than 41% of the total turnover accounted for exports from Slovenia (pharmaceuticals, electrothermic and electrical appliances, paint coatings), while imports to Slovenia mainly consist of natural gas and petroleum products, raw aluminium and nickel.
The Russian Federation also retains its significance for Slovenia in the volume of Slovenian investments abroad (fourth place after the markets of the former Yugoslavia). Thus, the volume of direct investment to Russia from Slovenia at the end of 2017 amounted to 387,7 million euros.
Slovenia pays considerable attention to strengthening the cooperation with the Russian regions. Ministry of Economic Development and Technology of the Republic of Slovenia settles memorandums of cooperation with the authorities of the Russian Federation. These kinds of memorandums were signed already with nine regions (Moscow, Samara, Leningrad, Ulyanovsk, Yaroslavl and Vladimir regions, as well as the Altai Krai, Republic of Tatarstan and the city of Moscow).