Page 311 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/29/24, 8:35 AM Latest News
development of both economies.
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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