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The President of Estonia at the Estonian Business Seminar in Tokyo on 2 November 200403.11.2004
Dear participants!
I am delighted to welcome everybody on behalf of the Estonian delegation. I consider this visit to be a natural continuation in Estonian-Japanese relations that began already 85 years ago. Many honourable Japanese business delegations have visited Estonia over the last few years and the interest of Estonian businessmen in Japanese economy has ever increased.
I would like to acknowledge the role of the Government of Japan, the foreign trade organization JETRO, JTB, but also Finnair who all have contributed greatly to the event taking place today.
During this visit I have had the honour to meet His Imperial Majesty Akihito and Prime Minister Junichiro Koizumi, also several other leading government officials. I set high value on the experiences of the meetings.
Japanese hospitality, diligence, love for their country and rich culture have been the key words in these meetings. I admire the Japanese people for their ability and desire to preserve national customs also in today's globalising society. By learning about each other's traditions and values we create a basis for continuing cooperation.
Honoured audience!
Tonight several presenters will introduce to you Estonian economy and business environment. But before I step down to give the floor to other speakers, I would like to make a short introduction on my behalf.
Estonia is, as a habit, characterized by words, such as "small", "open", "rapidly developing". From Japanese point of view "far" could also be added. I would like to briefly stop on these words.
Distance-wise Estonia and Japan are far away indeed, but I can assure you - covering that distance is neither uncomfortable, nor hard. From Helsinki, the capital of Finland, that is situated only 80 kilometres from Tallinn, the capital of Estonia, there is a direct flight to Tokyo and Osaka.
Estonia is a small maritime country with the area that could be compared with the island of Kyushu, but there are less than 1,5 million people living in Estonia. Last year the Gross National Product of Estonia reached 7,5 billion Euros.
Estonian economy is internationally known for its openness and rapid development. It was initiated by the reform process that started nearly 15 years ago.
After the Soviet occupation in Estonia that lasted for 50 years economy had to be rebuilt according to the marketing regulations and products had to be made internationally competitive. Based on these considerations, Estonia compiled a program of rapid economic reforms with an established goal of open economy, free market and the development of private enterprises. Estonian crown was tied to the exchange rate of the German mark of that time to stabilize economic development.
Our efforts have resulted in success. We have established safe and reliable economic environment and stable currency. This year Estonia became a member of the European Union and NATO. According to the recent report of the World Economic Forum Estonian economy is the most competitive among the new EU member states. Rapid growth of economy is a proof of that: from 1997 the average economic growth has exceeded 5 %. Export has grown fast as well. More than 80 per cent of it is directed to the EU market.
Japan is Estonia's second largest trade partner in Asia. The quality of Japanese electronics and cars is well known and valued in Estonia. Estonia, on the other hand, sells parts for mobile telephones, wooden houses, handicrafts and other products to Japan. Access to the Japanese market is an acknowledgement and a developmental stimulus for Estonian enterprises, for the local customer here is demanding and quality-conscious.
In rebuilding its competitive market economy it was important for Estonia to include foreign investments. Investors also brought to Estonia more modern know-how and technology; the access of Estonian produce to the foreign markets improved as well.
Estonia is among the first of the former Eastern and Central European countries in including direct investments. However, there are still few investments from Japan and other distant countries; two thirds of the direct foreign investments originate from our closest Nordic neighbours Finland and Sweden.
Estonia and Japan have several fields for cooperation and exchanging experiences. I would like to point out just a few areas: tourism, information society and high technology.
Tourism and related industries have an important position in our economy. There are more and more Japanese tourists visiting Estonia - 10 000 in year 2003. Foreign visitors are interested in the Medieval Old Town of Tallinn and beautiful nature. About half of Estonian territory is covered with forests; we have many swamps, lakes and islands. Japanese beautiful autumn colours remind me of the sharp autumn in my homeland.
In many naturally beautiful locations in Estonia there has been developed a network of quality spas and recreational establishments. In health procedures several of them also use one of Estonian natural resources: mud for treatment. Such health and recreation procedures are popular among Estonians and our neighbours alike.
We have been successful in establishing information society. Estonia has e-Government and e-banking. Three fourths of the population of Estonia use a mobile telephone and about a half use Internet. It was a great recognition for Estonia when the Director General of the UN Development Program Mr Brown said in the summit meeting to do with information society in Geneva: "If Internet were a country, it would be called Estonia."
In different fields, including the establishment of the knowledge based society, Estonia has a lot to learn from Japan. Japan is known worldwide as a country of capital-intensive, knowledge-intensive high technology. Japan is one of the first countries in the world in investments to scientific and development activities. There are the most modern and best-equipped laboratories of information-, gene- and nanotechnology in Japan. Such investments are also welcome in Estonia. Estonia has educated labour power and the government has established material-, information and biotechnology as priorities in developing high technology.
Hereby all there is for me to say is: welcome to Estonia, to rest as well as to establish business contacts. Thank you for your attention.
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