Abu Dhabi [UAE], April 27 (ANI/WAM): Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, held talks with Tiit Riisalo, Estonia's Minister of Economic Affairs and Information Technology, in the UAE today to further develop the trade and investment relationship between the two nations.
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.
Al Zeyoudi and Riisalo reiterated their commitment to fostering a strong and enduring partnership that benefits businesses and citizens of both nations. (ANI/WAM)
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