London, 29 November 2024 – The iconic London Stock Exchange was the venue for the business conference “Next Steps in Strengthening UK-Slovenia Relations”, organised by the British-Slovenian Chamber of Commerce and SPIRIT Slovenia. Bringing together prominent government representatives, industry leaders, and financial experts, the event focused on boosting trade and investment between the two countries. A key highlight of the conference was the signing of a Memorandum of Understanding (MoU) between SPIRIT Slovenia and the West London Chambers of Commerce, representing a shared commitment to further deepening bilateral economic ties.

The conference opened with keynote speeches from Marko Lotrič, President of the National Council of the Republic of Slovenia, and Ayuna Nechaeva, Director and Head of Europe, Primary Markets at the London Stock Exchange. In his address, Mr Lotrič welcomed the core focus of the conference - to contribute to the prosperity of Slovenia and the UK - and highlighted the strategic importance of the cooperation with the British-Slovenian Chamber of Commerce and the official visit to London. He added: “In the pursuit of economic growth, which in Slovenia can be boosted by, among other things, increasing exports and attracting new foreign investment, expanding access for Slovenian companies to one of the most developed markets in the world is of key importance.”

A key moment of the conference was the signing of the Memorandum of Understanding (MoU) between SPIRIT Slovenia, the country’s Business Development Agency, and the West London Chambers of Commerce. As noted by the signatories, this MoU represents a mutual commitment to deepening business ties between the two countries and establishing a framework for future economic collaboration. The significance of the MoU was underscored by Tamara Zajec Balažič, Deputy Director of SPIRIT Slovenia, who expressed her appreciation by saying: “With this, we aim to promote trade and investment cooperation between the two countries and provide companies from both nations with all the necessary support in finding new business opportunities and forming partnerships. This memorandum marks an important step forward in strengthening economic ties between Slovenia and the United Kingdom. I believe the results of this partnership will soon manifest in the form of new projects and joint initiatives, further solidifying collaboration between companies from both countries.”

The conference also featured two panel discussions that explored topics of trade and investment opportunities, as well as the development of capital markets through pension reform.

The first panel “Trade and Investment Opportunities Between the UK and Slovenia”, moderated by Žiga Fišer, Country Trade Director at the British Embassy Ljubljana, the discussion addressed the growth and potential of economic cooperation between the UK and Slovenia. Panelists Tamara Zajec Balažič (SPIRIT Slovenia), Richard Moir (London Chamber of Commerce and Industry), and Alan Rides (West London Chambers of Commerce) began the discussion with an overview of bilateral trade, which has surpassed €1 billion over the past year. This growth was attributed to Slovenia's robust export strategies and the resilience of its businesses in the face of Brexit-related challenges.

Discussion underscored significant opportunities in industries such as automotive, pharmaceuticals, and telecommunications equipment, as Slovenian exports to the UK have more than doubled since 2019. Complementing this, UK exports to Slovenia have grown in sectors like legal, financial, and intellectual services. Panelists emphasized the complementary nature of the two economies and the importance of targeted trade initiatives, while also exploring the important role of chambers of commerce in facilitating business connections and promoting trade.

The second panel “Enhancement and Development of Capital Markets Through Pension Reform”, focused on Slovenia’s forthcoming pension reform and its potential to drive country’s capital market development. Moderated by Simon Savšek, Head of EIB Group Office in Slovenia, the panel brought together a host of experts: David Benedek, Member of the Management Board, Sava Re; Marko Bombač, President of the Management Board, Ljubljana Stock Exchange; Janez Kranjc, President of the Management Board, Prva Group; Ayuna Nechaeva, Director, Head of Europe, Primary Markets, London Stock Exchange; Wyndham North, Managing Director of Growth Fund Project, British Business Bank; Nikolina Prah, State Secretary at the Ministry of Finance of the Republic of Slovenia; Robert Prelesnik, Managing Partner at Law firm Rojs, Peljhan, Prelesnik & Partners; Mark Richards, Member of the Supervisory Board, NLB; Luka Vesnaver, Chairman of the BSCC and Member of the Supervisory Board, NLB; and Žiga Vižintin, Director of Retirement Solutions, Pokojninska družba A.

The discussion examined how reform in Slovenia’s supplementary pension system, particularly the second pillar, could serve as a catalyst for attracting institutional investors and driving long-term equity financing. Panelists also addressed how pension reform could enhance private savings and increase the participation of institutional investors, helping to align Slovenia’s financial systems with international standards. Lessons drawn from the UK’s pension reform journey underscored the importance of regulatory consistency, employer contributions, and public awareness in building a sustainable and efficient pension framework.

The conference was also attended by the British Ambassador to Slovenia Victoria Harrison, who expressed her support for the deepening of bilateral relations between the two countries and emphasised, “The business conference, which was excellently organised by the British-Slovenian Chamber of Commerce in Ljubljana, addressed a number of interesting and current issues in the field of capital markets development, which are of utmost importance for both Slovenia and the UK, and which open up new opportunities for cooperation between the two countries. I am pleased to see that bilateral economic contacts are deepening, which will undoubtedly contribute to mutual economic growth, which is one of the main objectives of the current British Government.”

Photo highlights from the event are available here.