Page 302 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/29/24, 8:34 AM H.E. Bin Touq meets with his Estonian counterpart
aligns with the shared aspirations of both leaderships to enhance bilateral ties and contribute to the
sustainable development of both economies.

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H.E. said: "The meeting with the Estonian delegation marks a new step forward in strengthening
economic relations and fostering dialogue between the UAE and Estonian private sectors to explore
new avenues of collaboration, particularly considering the diverse economic opportunities in both

markets. In addition, exporters and importers from both sides stand to benefit from more growth
enablers and incentives."

The meeting witnessed the exchange of expertise on the development of flexible economic policies and
legislation aimed at driving sustainable economic growth in both countries. In this context, H.E. Bin Touq

elaborated on the UAE's economic openness policies, as well as its efforts in forging strategic economic
partnerships with leading regional and global markets. H.E. also highlighted the comprehensive
development of the UAE's economic legislation and its role in strengthening the competitiveness of the
business environment and supporting its regional and global leadership. These measures include the
issuance and development of new legislation governing cooperatives, commercial transactions,

commercial registry, and family businesses. Besides, 100 per cent foreign ownership of companies was
granted, streamlining procedures for establishing and conducting business operations in the country.

The Minister of Economy emphasised the advantages offered by the UAE economy, along with the
promising investment prospects across different sectors including tourism, family enterprises, e-

commerce, manufacturing, sustainable transportation, and technology. H.E. also underscored the
benefits offered by the UAE's strategic geographic location that links the East and the West.

The two sides discussed the potential for enhancing cooperation in the tourism sector. They explored
various programs and initiatives to engage the private sectors of both countries to enable them to
achieve business growth while also maximising tourism industry's contribution to the overall GDP of both

the UAE and Estonia.

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