BAKU, Azerbaijan, August 22. The Estonian government put their heads together today to cook up new measures aimed at bolstering business diplomacy, with the goal of spreading their wings in export markets and giving the economy a much-needed shot in the arm, Trend reports.
During the convening, officials underscored the criticality of sustained synergistic collaboration among the Ministry of Foreign Affairs, the Ministry of Economic Affairs and Communications, and Enterprise Estonia in facilitating the international expansion of domestic enterprises.
“Estonian exports remain largely concentrated in the European Union, which accounts for about 70 percent of our goods and services exports. Entering more distant markets requires stronger state support and a presence through embassies,” said Foreign Minister Margus Tsahkna.
Tsahkna added that Enterprise Estonia and the Foreign Ministry are working to assist businesses in accessing markets not only in neighboring regions but also further afield.
“Our goal is to put a stronger focus on Asia, Africa, the Middle East, and South America. To do this effectively, we need up-to-date foreign representation that covers all regions critical for supporting Estonian exports and attracting investment,” he explained.
Minister of Economic Affairs and Industry Erkki Keldo pointed out that diving into new markets requires putting your ducks in a row and getting a good grip on the local business landscape.
“The state can support companies by ensuring a permanent presence in target markets, helping them better understand local business culture, laws, and supply chain specifics. Through our embassies and trade advisers, Estonian companies can gain reliable information on opportunities and risks while building valuable connections with local partners and clients,” Keldo said.
He added that export priorities have been set together with industry associations and included in a national export action plan. To back these efforts, Estonia has also created a dedicated export support scheme, allowing companies to jointly prepare for entering new markets and scaling up the sale of products and services abroad.
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