UAE-Estonia Business Forum discusses expanding cooperation to serve new business model


ABU DHABI, (UrduPoint / Pakistan Point News / WAM – September 21, 2021) The UAE-Estonia Business Forum, chaired by Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs; and Andres Sutt, Estonian Minister of Entrepreneurship and Information Technology, discussed ways to improve cooperation and build long-term partnerships in various economic fields between the two sides.

Discussions focused on creating new avenues in the next step to broaden and further develop cooperation frameworks between the two countries.

The Forum was organized in Dubai by the Federation of Chambers of Commerce and Industry of the United Arab Emirates, in the presence of Abdullah Mohammed Al Mazrouei, President of the Federation of Chambers of Commerce and Industry of the United Arab Emirates (FCCI ). During the session, a number of officials and businessmen from both sides discussed investment and business opportunities in the field of SMEs.

In addition, the forum saw the signing of a Memorandum of Understanding between the United Arab Emirates FCCI and Enterprise Estonia with the aim of establishing an Emirati-Estonian Business Council to promote investment and economic opportunities among business communities in both countries. It will also help to develop trade cooperation between them, besides providing services and facilities between trade and investment sectors in UAE and Estonia.

Al Falasi informed the Estonian delegation participating in the forum about the most important features of the “Projects of the 1950s” and the new economic legislation which aims to create a knowledge-based business model that is flexible, competitive and sustainable. He noted that it presents pioneering projects capable of stimulating growth in the manufacturing, technology, research and SME sectors.

In addition, Al Falasi highlighted the depth of relations between the two countries in various fields, noting that relations between UAE and Estonia have seen tremendous growth and development in recent years. He said the progress is the result of the two countries’ desire to strengthen their bilateral relations and bring them to higher levels of coordination and partnership.

Al Falasi added: “The UAE-Estonia Business Forum is a very important platform through which we have presented joint plans between the two governments for future ways of cooperation. cooperation in the fields of entrepreneurship to include new avenues, stimulate bilateral and mutual investments in the markets of the two countries, and create channels of direct communication between companies of the two countries.

These will give them the opportunity to agree on investments and projects with promising prospects in the next phase, especially in the health, finance, agriculture and health sectors. the making. ”

Al Falasi expressed confidence that the UAE-Estonia Business Council will help build long-term and sustainable partnerships between the two countries in light of new economic developments in UAE and Estonia. This will create more cooperation in various fields in pursuit of a more prosperous future, he noted.

In addition, Al Falasi stressed the importance of building strong partnerships by leveraging the great capacities and unique components of the two countries to ensure the achievement of future goals. He underlined the important role played by Estonian companies in economic transformation and diversification, especially in terms of technological developments such as robotics, artificial intelligence and biotechnology. He also spoke about the importance for Estonian companies to take advantage of promising opportunities in UAE markets as a springboard to enter other regional markets.

Meanwhile, Andres Sutt welcomed his participation in the UAE-Estonia Business Forum, stressing the importance of this forum to develop and strengthen cooperation in the fields of investment and information technology and exchange experiences in the field of support and development of SMEs. This particularly applies to those operating in the field of information and communication technologies and the fourth industrial revolution. He further underlined his desire to actively participate and benefit from Expo 2020 Dubai, which will start next month, as it will provide Estonia with a unique opportunity to demonstrate its position as the most digitally advanced company in the world. .

Economic cooperation between the two countries made significant progress in the first half of 2021 compared to the same period in 2020, when the volume of trade doubled by 100%. The promising growth rates reflect the rapid development of relations between the two countries in various fields and lay a solid foundation for intensifying joint efforts between the two governments to further strengthen economic cooperation and integration, guided by a clear vision. which serves development aspirations. on both sides.

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