Page 309 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/29/24, 8:35 AM H.E. Bin Touq meets with his Estonian counterpart to discuss strengthening of economic cooperation between the two countries - …
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.

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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