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Slovenian PM Foresees Increasing Economic Cooperation With Luxembourg

by Ulrika Lomas, Tax-News.com, Brussels

25 October 2005

Slovenia's Prime Minister Janez Jansa told an audience in Luxembourg last week that he foresees greater levels of cooperation between the two countries in several economic fields, including investment, financial services and tourism.

Addressing a joint Slovene-Luxembourg business conference in the Duchy last Wednesday, Mr Jansa spoke of his admiration for Luxembourg's economic achievements and its "ability to adapt to new circumstances".

"We want to come close to that, as well as to its GDP," Mr Jansa stated.

Trade between the two nations reached a relatively small EUR72 million last year, and Luxembourg accounts for 1.4% of foreign direct investment into Slovenia.

However, with the Slovene Prime Minster confident that his country is on track to adopt the euro currency in 2007, and with economic reforms advancing, he predicted that opportunities for increased bilateral trade and investment will exist in the future.

"Slovenia's entry in the eurozone could provide an additional boost for investors from Luxembourg," he observed.

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