Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, convened with Tiit Riisalo, Estonia’s Minister of Economic Affairs and Information Technology, within the UAE to propel trade and investment relations forward. The dialogue between UAE and Estonia focused on sectors poised for growth, emphasizing enhanced cooperation in digitization, advanced technologies, AI, and health-tech.
Bilateral trade between the UAE and Estonia surged by 76.2 percent to $176.3 million in 2023, up from $100.1 million the previous year. This meeting served to capitalize on this growth and solidify commitments to deeper economic connections and open, rules-based trade. Both ministers were pleased with the bilateral trade figures and agreed to probe further into collaborative ventures to exploit rising mutual market interests.
Discussion centered on diversifying trade products and sectors, enhancing trade facilitation, and fostering closer cooperation across various fields, including food security and sustainable development.
“Estonia is an EU country with significant potential for the UAE, with an economy projected to return to robust growth in the coming years. This is reflected in increasing bilateral trade flows in 2023, and we see many mutually beneficial opportunities to expand on these numbers and establish wider collaboration in areas such as AI, digital healthcare and food security,” stated Al Zeyoudi. He emphasized the UAE’s strategic importance as a hub for Estonian companies aiming to reach markets across the Arab world, Asia, and Africa, promising a conducive business environment.
Riisalo praised the UAE’s proactive role in promoting bilateral trade and was enthusiastic about deepening ties. He underscored Estonia’s prowess in digital innovation, e-commerce, and clean technology, identifying these as promising collaboration fields with the UAE.
The session ended with mutual optimism about the future of UAE-Estonia economic relations, with both ministers reaffirming their dedication to a long-lasting partnership that supports business growth and benefits the populations of both countries.
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