Enterprise Estonia signs memorandum between Estonia and United Arab Emirates to establish cooperation board
A delegation of Enterprise Estonia (EAS) along with Minister of Entrepreneurship and Information Technology Andres Sutt and an accompanying business delegation visited the United Arab Emirates to open the Estonian pavilion at Expo 2020 in Dubai, to establish a cooperation board between Estonia and the UAE and to develop business relations between the UAE and Estonia.
At the opening of the Estonian pavilion at EXPO 2020 in Dubai, Andres Sutt, Minister of Entrepreneurship and Information Technology, encouraged enterprises to use Estonia as a gateway to Europe. “When you look at Estonia, look at all of Europe, then you will see the scale: combined with the rest of the European Union and the United Kingdom, we are half a billion people,” says Minister Sutt.
Peeter Raudsepp, Chairman of the Board of Enterprise Estonia, signed a memorandum with the FCCI (The Federation of UAE Chambers of Commerce & Industry) in Dubai to establish a cooperation board between Estonia and the United Arab Emirates. “By signing this memorandum, the United Arab Emirates and Estonia took a big step forwards to develop mutually beneficial trade and cooperation opportunities,” comments Raudsepp. “This common cooperation board supports business developments between our innovative and forward-thinking nations and opens up more opportunities for cooperation between our enterprises.”
Ahmad Belhoul, Minister of State for Entrepreneurship of the UAE, noted in his speech that the United Arab Emirates and Estonia have many things in common, such as sharing a digital vision. “Our countries believe that digital economy is the way forwards. As Estonia has the most ‘unicorns’ (start-up companies that received €1 billion in investments before going public on the stock market) per capita in Europe and the UAE is the birthplace of the leading unicorns in the region, both Estonia and the UAE are the main hubs for starting enterprises in their regions,” says Belhoul.
The visit featured 14 Estonian enterprises from the fields of education, IT, construction and design, for which Enterprise Estonia arranged numerous business meetings with UAE enterprises.
The visit was organised by Enterprise Estonia and the Estonian EXPO Foundation in cooperation with the Estonian embassy in Abu Dhabi.
The publication of this article is financed by the European Regional Development Fund (ERDF).