- Home
- Middle East
- UAE
- UAE-Estonian Business Forum discusses expanding cooperation to serve new economic model
UAE-Estonian Business Forum Discusses Expanding Cooperation To Serve New Economic Model
Fahad Shabbir (@FahadShabbir) Published September 21, 2021 | 08:00 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 21st Sep, 2021) The UAE-Estonian 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 enhance cooperation and build long-term partnerships in various economic fields between the two sides.
The discussions focused on the creation of new paths during the next stage to further expand and develop cooperation frameworks between the two countries.
The Forum was organised in Dubai by the Federation of UAE Chambers of Commerce and Industry, in the presence of Abdullah Mohammed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce & Industry (FCCI). During the session, a number of officials and businessmen from both sides discussed investment and business opportunities in the field of SMEs.
Furthermore, the forum witnessed the signing of an MoU between the FCCI in the UAE and Enterprise Estonia with the aim of establishing a UAE-Estonian Business Council to promote investment and economic opportunities between the business communities in the two countries. It will also help develop commercial cooperation between them, in addition to providing services and facilities between the sectors of trade business and investment in both the UAE and Estonia.
Al Falasi briefed the Estonian delegation participating in the forum on the most prominent features of the ‘Projects of the 50’ and the new economic legislation that aims to create a knowledge-based economic model that is flexible, competitive and sustainable. He noted that it features pioneering projects capable of stimulating further growth in the sectors of manufacturing, technology, research and SMEs.
In addition, Al Falasi underlined the depth of the relations between the two countries in various fields, noting that the UAE-Estonian relations have witnessed great growth and development in recent years. He said that this progress is a result of the two countries' desire to strengthen their bilateral relationship and take it to higher levels of coordination and partnership.
Al Falasi further said, "The UAE-Estonian Business Forum is a very important platform through which we have put forward joint plans between the two governments for future paths of cooperation. It places particular emphasis on increasing cooperation in the fields of entrepreneurship to include new paths, stimulate bilateral and mutual investments in the two countries' markets, and create channels for direct communication between the companies of the two countries.
These will give them the opportunity to agree on investments and projects with promising prospects during the next phase, especially in the sectors of health care, finance, agriculture and manufacturing."
Al Falasi expressed his confidence that the UAE-Estonian Business Council will contribute to building sustainable and long-term partnerships between the two countries in light of the new economic developments in both the UAE and Estonia. It will create more cooperation in various fields in pursuit of a more prosperous future, he noted.
Furthermore, Al Falasi pointed out the importance of establishing strong partnerships by taking advantage of the great capabilities and unique components of the two countries to ensure the achievement of future goals. He highlighted the important role played by Estonian companies in the economic transformation and diversification, especially in terms of technological developments such as robotics, artificial intelligence and biotechnology. He also referred to the importance of Estonian companies benefiting from the promising opportunities in the UAE’s markets as a springboard to launch into other regional markets.
Meanwhile, Andres Sutt expressed happiness in his participation in the UAE-Estonian Business Forum, pointing out the importance of this forum in developing and strengthening cooperation in the fields of investment and information technology and exchanging experiences in the field of supporting and developing SMEs. This applies particularly to those operating in the field of information and communication technology and the Fourth Industrial Revolution. He further highlighted his desire to actively participate and benefit from Expo 2020 Dubai, which begins next month, as it will provide Estonia a unique opportunity to demonstrate its position as the most digitally advanced society in the world.
Economic cooperation between the two countries has made significant strides in H1 2021 compared to the same period in 2020, where the volume of trade exchanges doubled by 100 percent. The promising growth rates reflect the rapid development of relations between the two countries in various fields and establish a solid ground for the intensification of joint efforts between the two governments to further strengthen cooperation and economic integration, led by a clear vision that serves the development aspirations of both sides.
Related Topics
Recent Stories
'Charter of economy is the need of the hour': Asif
14 bodies found in Haiti capital suburb amid gang violence
Punjab Chief Minister Maryam Nawaz Sharif announces metro bus projects in three ..
PM, UAE ambassador discuss ties
FM, US ambassador agree to enhance ties
Bear injures five in latest Slovak attack
Families of two WASA workers to be compensated properly: Minister
Jam Kamal expresses concern over delay in work of Bela, Jhao roads
FM desires to strengthen Pak-China ties
Michelin unveils 62 newly starred French restaurants
US hopes Haiti transitional council ready 'as soon as' Monday
Excise dept introduces mobile vehicle registration service
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
2 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
5 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
5 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
5 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
5 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
5 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
5 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
5 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
5 months ago -
SIBF turns spotlight on remarkable contributions of women
5 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
5 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
5 months ago