Dubai-Estonia Business Forum discusses prospects for cooperation and stimulating innovation
Dubai, 17 October / WAM / The Dubai-Estonia Business Forum, organized by Dubai Chambers in cooperation with the Government of the Republic of Estonia and the Emirati-Estonian Business Council, discussed expanding the horizons of trade and investment cooperation and stimulating innovation and joint work between the advanced digital economy systems in Dubai and Estonia.
Discussions addressed ways to enhance cooperation between Dubai companies and their Estonian counterparts across a wide range of sectors, including high technology, digital economy, renewable energy, automotive, agri-tech, construction, logistics, and the maritime sector.
The forum, which was held at the Dubai Chambers headquarters, witnessed the presence of Her Excellency Lisa Lee Pakosta, Minister of Justice and Digital Affairs of the Republic of Estonia, Her Excellency Mohammed Ali Rashid Lootah, Director General of Dubai Chambers, and Her Excellency Maria Belovas, Ambassador of the Republic of Estonia to the UAE, and attracted a group of officials and representatives of the business communities in Dubai and Estonia.
The participants discussed opportunities to expand trade relations between the two sides, benefit from each other’s expertise in key sectors, and pave the way for new partnerships.
Her Excellency Lisa Lee Pakosta said that achieving digital progress depends on cooperation and mutual trust, which is embodied in the Dubai Estonia Business Forum, and the UAE’s commitment to consolidating innovation in various sectors comes in parallel with the importance that Estonia attaches to technology as an effective tool for enhancing the economy and improving the quality of life.
She stressed that the UAE is a role model for turning ambitions into reality, and is characterized by an attractive business environment for Estonian expertise that can contribute to vital projects in various business fields.
For his part, His Excellency Mohammed Ali Rashid Lootah said: The growing relations between Dubai and the Republic of Estonia form a solid foundation for achieving our common economic goals, and we are committed to strengthening bilateral partnerships across various vital sectors. Dubai, thanks to its distinguished geographical location, advanced infrastructure, and stimulating legislative environment, is an ideal platform for Estonian companies aspiring to expand internationally and explore… New opportunities in the region’s markets.
In an indication of Dubai’s growing investment attractiveness for Estonian businessmen and investors, the number of active Estonian companies registered with the Dubai Chamber of Commerce at the end of last year recorded a growth of 37% on an annual basis, while 15 new Estonian companies joined the Chamber’s membership during the first half of this year, which raised the total number of active Estonian companies registered with the Chamber’s membership to 95 companies by the end of last June.
Bilateral trade relations witnessed significant growth, as the value of non-oil trade between Dubai and Estonia increased by an annual rate of 10% to reach 542.3 million dirhams in 2024, compared to 494.5 million dirhams in 2023.
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