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Address by the President of the Republic of Estonia at the Maltese-Estonian Business Seminar, on 2 October 200302.10.2003
Honourable Ministers,
Dear businessmen,
Ladies and gentlemen!
I am very thankful for the opportunity to visit your beautiful and hospitable country. During our stay here we have again and again experienced how ancient cultural values and rich history exist side by side with the state-of-the-art technology. At every step we see development.
A mix of history and rapid development is also characteristic of Estonia. The fact that both the people of Malta and Estonia have said "yes" to the European Union, reflects our shared values and similar future visions. Our "yes" confirms the understanding that acting together and strengthening our economic ties we can create an environment which is more favourable for enhancement of the well-being of our people.
Our current visit and today's meeting is one of the many steps in the development of relations between Malta and Estonia. It was only last week that the representatives of Malta were in Estonia and already preparations are under way for the Maltese business mission to Estonia in May 2004. Also the cooperation agreement, which will be signed at today's meeting between the Chambers of Commerce of our two countries, reflects ever increasing mutual interest.
The fruitful cooperation depends on how well we know each other. A moment ago I mentioned that there are similarities between our countries. Allow me to use the opportunity and tell you a little more about Estonia.
Both Estonia and Malta are maritime countries. However, compared to Malta, Estonia is far away in the North, on the coast of the Baltic Sea, but our ports are mostly ice-free. This gives a certain advantage to our maritime trade vis-ą-vis a number of other ports. Nordic beauty characterises the nature in Estonia: lakes and marshlands, tranquillity of forests and white summer nights, snow and ice in winter. About a half of mainland Estonia is covered with forests. We can be proud of our history, architecture and places of recreation. Therefore Estonia has become an attractive destination for millions of tourists. We are eager to share those values with you as our guests and cooperation partners.
While visiting Estonia you are bound to see the rapid development of our economy. Everywhere at the construction sites the work is going on, many new enterprises have been established, new products are being developed and new markets are targeted.
The economic policy of the independent Estonia targets openness, liberal market and private entrepreneurship. Now we can say that our endeavours are bearing fruit. Over the last years the average economic growth in Estonia has exceeded five per cent and we have managed to curb the rise in prices inherent to transition economies. The Estonian goods and services are competitive internationally - a proof can be seen in the rapid growth of export and its orientation to the European markets. More than 80 per cent of our exports go to the European Union (including the current accession and candidate countries). The main exporting branches of economy are wood processing, foodstuff industry, mechanical engineering, and electronics as well as transit traffic.
Very rapid development is seen in information technology and in telecommunications. These fields have enjoyed many foreign investments. For example, one of the biggest information technology companies in the Baltic states - Microlink is in Estonia. Many Estonian telecommunication companies participate in the production chain of the Nordic countries, they have close contacts with their Nordic counterparts. The Estonian e-Government and Internet banking as well as extensive coverage area of mobile phone communications have facilitated the specialisation of our engineers in order to elaborate necessary solutions. I know that also the Maltese people can be proud of the development of their information technology and telecommunications. Maybe we find possibilities to cooperate in this area?
We are also proud of the development of our science. The first enterprises of biotechnology in Estonia were founded as early as in 1991, before the restoration of our independence. Such fields as cell- and molecular biology and gene research have contributed to the development of medicine. In these fields the Estonians are valued partners on the international level.
Among research priorities I would like to list also materials research, environmental science and oceanography. Here the existence of necessary scientific basis, participation in the European Union programmes, specific measures taken by the government and the innovations-supportive attitude prevailing in our society ensure rapid progress.
The success of our economic development is closely connected with the integration into the European economic space. As a result of such integration, we can enjoy safe and reliable economic environment, stable currency, lower interest rates and increasing trade. As to the amount of foreign investments per capita Estonia takes one of the top places among the Central and East European countries (CEEC). The structure of foreign investments and trade reflects very close ties of Estonia with Finland and Sweden.
For many international companies Estonia has served as a gateway to the other Baltic states - to Latvia and Lithuania, but also to Russia. I believe that for Malta as well the know-how and contacts of Estonians can be of assistance in discovering new markets in the Baltic Sea region.
Ladies and gentlemen!
I am very pleased that our delegation includes also our Minister of Economy and Communications and the President of the Chamber of Commerce and Industry. And now they are going to provide you an insight into our economic policy and business environment.
Thank you for your attention! I would like to wish you success and happiness, and kindly keep in mind that you are always welcome to Estonia!
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