UAE and Estonia to strengthen private sector cooperation focusing on tourism, travel & entrepreneurship

H.E. Al Falasi holds meeting with Estonian Minister of Entrepreneurship and Information Technology

H.E. Dr. Ahmed Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs, discussed the prospects for developing the economic partnership between the UAE and Estonia during a meeting with H.E. Andres Sutt, Minister of Entrepreneurship and Information Technology of Estonia. During the meeting, the two ministers underlined the importance of joint efforts in expanding the existing partnership by developing effective channels of cooperation and partnership between the private sectors of the two countries and boosting cooperation in tourism, travel, entrepreneurship, SMEs, innovation, and technology sectors.

H.E. Dr. Al Falasi highlighted the importance of intensifying cooperation between the governments of the two countries to formulate plans and develop cooperation in vital and future areas. This is key to enhancing cooperation in the areas of entrepreneurship to include new paths, stimulate investment exchanges in the markets of the two countries, and create direct channels of communication between the private sectors of the two countries, he added. The minister further said that this will allow them to explore investments and projects with promising prospects in each other’s markets during the next phase, particularly in healthcare, finance, agriculture, and manufacturing sectors.

Furthermore, H.E. briefed the Estonian Minister on the highlights of the ‘Projects of the 50’ and the UAE’s new economic legislation aimed at creating a knowledge-based, flexible, competitive, and sustainable economic model. It embraces emerging SMEs and startups and stimulates further growth in manufacturing, technology, research, and SMEs sectors. He also highlighted the role of principles, plans, and projects of the 50 in facilitating deepened partnership between the two friendly countries.

Meanwhile, the Estonian Minister noted that the growing economic partnership between Estonia and the UAE is reflected in the plans of the two countries to start direct flights between the Estonian Capital of Tallinn and the UAE, pointing out the existence of several valuable projects that serve the common interests.

Sutt noted that entrepreneurs and tourists from Estonia are now showing more interest in the Middle East region, explaining: "From the Estonian point of view, the UAE is an attractive tourism destination for holidays and an ideal choice for doing business and investments. We also believe that the UAE’s interest in Estonia is very high as it is a unique tourism destination and a nurturing environment for businesses and companies from various vital sectors.”

Both sides reiterated the importance of establishing the Estonia-UAE Joint Business Council, which was announced in September 2021, as an important step towards building stronger cooperation frameworks. It will help create new opportunities and partnerships that would contribute to taking trade and investment cooperation between the two countries to a new level.

Estonia is participating in Expo 2020 Dubai with a pavilion that features 42 major Estonian companies. Over the past three months of the Expo, the Estonian pavilion has attracted 164,000 visitors.