The visit coincides with the entry into force of an economic cooperation agreement, which was signed in June when Economy Minister Vu Huy Hoang paid a visit to Slovenia.

The Economy Ministry said the agreement, which will also top the agenda of talks between the economy ministers, opened new opportunities for trade.

Bilateral trade amounted to only EUR 27.7m in 2014, but that was an increase of 27% over the year before. In the first half of this year the volumes rose by almost a quarter again.

"As a fast-growing economy Vietnam holds great potential for EU companies...I sincerely believe that companies will leverage that, not only in trade but also in investments," Počivalšek was quoted as saying.