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The President of the Republic at the Budapest Business Seminar on September 11, 200211.09.2002
Honourable Businessmen,
Ladies and Gentlemen,
I do hope that today's seminar contributed to both the Estonians' knowledge of Hungary and the Hungarian businessmen's knowledge of Estonia. But in my opinion, the today's get-together could be regarded as a success even in the case if it just provoked a wish to learn more.
Knowing each other well is the best foundation of deepening economic relations. Although we are kindred peoples, Hungary does not belong to the top of Estonia's foreign trade partners, much less Estonia to the top trade partners of Hungary being several times larger than our country. From Estonia's point of view, that can be said about the state of our economic relations with other Central European countries as well. I think that such a situation can and just must change!
An increase in trade and investment flows between our two countries would be only logical also because both Estonia and Hungary are aspiring to join the European Union. Before long, the economies of both countries are going to be parts of the EU internal market and in this internal market new prospects for our economic and trade co-operation will emerge. Let us keep in mind that, according to all prognoses, the average speed of economic growth in the present-day EU candidate countries will exceed the average of the European Union also in the coming decades. That constitutes a substantial potential for exporters who are gaining a foothold in the Central European market already now.
The above arguments apply to Estonia alike. It`s true that Estonia's economy is not large, but it is growing rapidly. In addition, its favourable geographic location and good relations with neighbouring countries make of Estonia just the right springboard for entering other markets.
I am sure that from contributions of the Estonians who spoke earlier you have remembered several keywords describing Estonia: good business environment, entrepreneur-friendly taxation policy, high-quality infrastructure, relatively modest corruption and high competitiveness. These are our advantages we must support, first of all, by investing into our people and balancing out our economic development.
Estonia has been a country with open economy. I am pleased to note that, in the course of years, also markets of other countries have been opened for the Estonian exporters more and more. One of the milestones in this process is also the agreement on avoidance of double taxation signed between Hungary and Estonia today.
I do hope that our policy orientated towards European integration and a well-balanced development ensured Estonian economy rapid advancement also for the next years and prepared the ground for the growth of foreign trade and investments. And you too, have every chance to have a share in these developments. I wish you a good start and success!
Thank you.
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