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Estonian business community supports Ukraine in its struggle against the Russian aggressor. This Baltic country was one of the first to recognize Russia as a state sponsor of terrorism, actively lobbies for the strengthening of pan-European sanctions against the Kremlin, provides comprehensive political, financial and humanitarian support to Ukraine.
At the same time, Ukrainian companies are competitive and interesting partners for Estonians, despite the difficulties they face as a result of the war.
Therefore, Ukrainian League of Industrialists and Entrepreneurs and the Estonian Small and Medium Sized Enterprises Association (EVEA) signed a memorandum of cooperation and held the first introductory webinar for businesses of both countries.
The event was attended by President of the ULIE Anatolii Kinakh, Founder and Vice President of EVEA Marina Kaas, Ambassador of Ukraine to Estonia Mariana Betsa and Ambassador of Estonia to Ukraine Kaimo Kuusk.
The representatives of the Ukrainian side thanked their Estonian colleagues for friendship and support. Estonia is involved in the process of reconstruction of Ukraine, in particular, takes care of the objects in Zhytomyr region.
Before the full-scale attack of Russia, trade between Estonia and Ukraine amounted to $ 543 million and showed an increase of 20% in 2021. There is still mutual interest, especially in infrastructure projects, IT, innovation, green economy, etc.
"We are confidently moving towards European integration. As of now, 70% of the Association Agreement has already been implemented, and the remaining 30% will be completed in the next 2 years," Mariana Betsa emphasized.
The Ambassador of Estonia Mr. Kuusk said that Estonian business associations are already organizing business trips to Ukraine, so the intensification of cooperation in the business sphere is timely.
The ULIE and EVEA agreed to exchange economic information, recommend reliable local consultants to support Ukrainian companies wishing to enter the Estonian market and Estonian companies in Ukraine, assist in finding business partners, etc.
During the webinar, the experts of the Enterprise Estonia presented the opportunities of Estonian free economic zones, legal conditions and support programs for Ukrainian employees planning to relocate, the state program e-Residency.
As for the latter, it has been operating in Estonia for several years. It provides for the possibility of opening/registering a company without physical presence with the submission of an online application. Organizational costs do not exceed 2.5 thousand euros, registration is fast and on the principle of a single window.
Currently, Ukrainians are the leaders in the number of participants in this program - more than 6 thousand e-residents who have opened 2 thousand companies.
One of such companies is Ukrainian PRNEWS.IO. Founder and CEO Oleksandr Storozhuk told about his experience.
In addition, Estonia has a Work in Estonia program, which provides all kinds of assistance to companies and individual employees with relocation. Here Enterprise Estonia works with 8 government agencies, provides consultations, assistance with relocation / permits / integration.
Anatolii Kinakh concluded that the agreement signed with EVEA will be aimed primarily at attracting Estonian investors to projects for the restoration of Ukraine, cooperation in innovative industries, energy modernization of industrial facilities, etc.
Cooperation will be continued on the basis of a plan of joint activities which will be made public after agreement by the parties.