UAE strengthening economic ties with Estonia

The Emirate of Ras Al Khaimah is hosting a high-level virtual visit to Estonia, to introduce the Estonian digital state to local entrepreneurs and political leaders and to strengthen economic relations between Estonian and UAE entrepreneurs.

According to Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, the UAE and Estonia share a longstanding friendship and partnership, underpinned by economic ties through trade and investment. Given the UAE’s shift towards a digital economy and Estonia’s deep experience in the field, the prospects for deeper collaboration are immense. “We consider efforts to enhance cooperation in the digital field to be very important as we continue to navigate through the post-COVID economic recovery.”

Ras Al Khaimah has decided to dedicate the year 2021 to Estonia and virtual visits dedicated to different economic sectors are planned to take place in every quarter of 2021 to introduce Estonia and strengthen economic ties between entrepreneurs of UAE and Estonia.

“I want to thank my colleagues from the Ministry of Economy of the United Arab Emirates and Ras Al Khaimah Chamber for helping to make today’s event happen. The pandemic has highlighted the importance of meaningful connections, both physical and digital. Therefore, I am especially glad that today the bilateral relations between Estonia and the United Arab Emirates are developing faster than ever. In 2019 in Abu Dhabi we opened the first Estonian Embassy in the Arabian peninsula. It is a clear sign of our interest towards closer political and economic contacts between the two nations,” the Estonian Minister of Foreign Trade and Information Technology Raul Siem said.

“Considering Estonia’s position as one of the most digitally advanced nations in Europe, we have no doubt regarding the potential of Emirati-Estonian partnerships in finding solutions to the economic challenges facing us today,” Al Zeyoudi affirmed.

The Chairman of Board Directors of Ras Al Khaimah Chamber of Commerce and Industry, Mohamed Musabbeh Al Nuaimi, emphasised that the aim of today’s virtual visit is to work together as one team to create the appropriate business environment for a new phase of ambitious economic growth, and to lay down a future mechanism to develop economic cooperation with the Republic of Estonia and to review various investment opportunities.

“I am glad to see that our cooperation is growing year by year and the Emirates market is of great interest to Estonian entrepreneurs. We see a lot of untapped potential and many opportunities for further growth, which we hope to explore together with you,” the Estonian Minister said.

 

Source: UAE Ministry of Foreign Affairs

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