Page 44 - MOE ENGLISH PR REPORT - OCTOBER 2024

Press Release

H.E. Bin Touq meets with his Estonian counterpart to discuss

strengthening of economic cooperation between the two countries

Minister of Economy: The meeting signifies a crucial step forward in fostering
dialogue between the business communities of both countries

Abu Dhabi, 18 October 2024:

H.E. Abdulla Bin Touq Al Marri, Minister of Economy, met with a delegation from the Republic
of Estonia led by H.E. Erkki Keldo, the Minister of Economy and Industry of Estonia. The meeting
explored ways to enhance economic cooperation between the two countries in areas of mutual
interest, including the new economy, technology, industry, tourism, entrepreneurship, circular
economy, and transportation.

H.E. Bin Touq highlighted the robust and flourishing relations between the UAE and Estonia,
which have experienced significant progress in various fields, particularly on the trade and
economic fronts. This aligns with the shared aspirations of both leaderships to enhance bilateral
ties and contribute to the sustainable 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,