Page 305 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/29/24, 8:34 AM H.E. Bin Touq meets with his Estonian counterpart to discuss strengthening of economic cooperation between the two countries : …
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.

Furthermore, H.E. Bin Touq invited the Estonian delegation to attend the fourth edition of Investopia, scheduled to
be held in February 2025. The event will serve as a key platform to explore the promising opportunities that the UAE
offers to global investors, while also fostering collaboration across diverse economic sectors.

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