Page 264 - MOE ENGLISH PR - APRIL 2024

The discussions centred on identifying sectors of particular promise, with a focus on increased
collaboration in digitisation, advanced technologies, AI and health-tech.

In 2023, bilateral trade between the UAE and Estonia increased by 76.2 percent, reaching a total
value of USD 176.3 million compared to USD 100.1 million in 2022.

The meeting between Al Zeyoudi and Riisalo provided an opportunity to discuss how to build on
this momentum and reaffirm both nations’ commitment to stronger, deeper economic ties and to
open, rules-based trade. Both parties expressed their satisfaction with the bilateral trade

volumes and pledged to explore new avenues for collaboration to capitalise on the growing
interest in each other’s markets.

Key areas of discussion included exploring opportunities for diversification of trade products and
sectors, enhancing trade facilitation measures, and fostering closer cooperation, not only in

advanced technology but also food security and sustainable development.

Al Zeyoudi stated, “Estonia is an EU country with significant potential for the UAE, with an
economy projected to return to robust growth in the coming years. This is reflected in increasing
bilateral trade flows in 2023, and we see many mutually beneficial opportunities to expand on
these numbers and establish wider collaboration in areas such as AI, digital healthcare and food
security. The UAE is committed to providing a conducive business environment to facilitate trade
opportunities for Estonian businesses seeking to leverage the UAE’s connectivity and logistics

infrastructure to expand to markets in the Arab world, Asia and Africa. We believe we can support
each other’s economic ambitions in the years ahead.”

Riisalo expressed his appreciation for the UAE’s efforts in promoting bilateral trade and
welcomed the opportunity to deepen cooperation between the two nations. He emphasised

Estonia’s strengths in areas such as digital innovation, e-commerce, and clean technology, which
present promising avenues for collaboration with the UAE.

The meeting concluded with both parties expressing optimism about the future of bilateral trade
relations and agreeing to work closely together to unlock new opportunities for economic growth
and prosperity.

https://theprint.in/world/uae-minister-of-state-for-foreign-trade-thani-al-zeyoudi-holds-talks-with-
estonias-minister-of-economic-affairs-and-ict-to-strengthen-bilateral-trade-ties/2060189/