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03.05.2018

Asia still to be discovered by Estonian entrepreneurs

China and Japan are the main target markets in Asia for Estonian entrepreneurs. But more and more the companies are also discovering India, South-East Asia and the Republic of Korea. For this reason on 18th of April 2018 Asian forum was held in Tallinn, where Asian experts and entrepreneurs, who have experience in Asia, shared their knowledge and experience.

“Asia is the biggest continent in the world, with biggest number of consumers and capital. Although Estonian entrepreneurs have set their eyes more in Asia in the last few years and made many remarkable cooperation agreements, there is still a lot to be discovered,” said Mait Palts, Director General of Estonian Chamber of Commerce and Industry. “The format of the forum has proved itself to be a great opportunity to get an overview of the region. Specific examples of Estonian companies and peculiarities of different countries encourage Estonian entrepreneurs to look more towards Asia,” explained Mait Palts.

“The lion’s share of Estonian economic relations in Asia is with China, Japan and Republic of Korea; relations with South-East Asia are more modest. South-East Asian countries are often seen as holiday destination. But looking beyond the holiday opportunities, we see unused collaboration opportunities,” said Väino Reinart, Undersecretary of Economic and Development Affairs of the Ministry of Foreign Affairs of Estonia.

In the welcoming speech of Asian forum Reinart also mentioned the free trade agreements that EU has with Asian countries: “Currently European Commission is approving the free trade agreements with Japan and Singapore. Additionally, many free trade agreements are in negotiation phase with ASEAN countries, we hope to initiate free trade negotiations soon with Australia and New Zealand,” said Reinart. “We are working together to create a favourable business environment for the business community, and we hope to enjoy the fruits of our labour together in Asia and in Europe,“ Väino Reinart added.

The speakers of the forum included entrepreneurs who already have experience in Asia and other Asian experts:

  • Alissa Vassilkova, CEO of Estelon;
  • Ardo Reinsalu, CEO of Stigo;
  • Reet Aus, CEO of Aus Design, fashion designer;
  • Siim Esko, Head of international business,  Positium
  • Alar Anton, CEO of Finnlog;
  • Riho Kruuv, Ambassador of Estonia to India, Myanmar, Singapore and Sri Lanka, and Malaysia;
  • Peter Hwang, Professor of Economics in the University of Tartu;
  • and many others.

Asian Forum took place in the framework of the Development Cooperation Project. The project is funded by the Estonian Foreign Ministry’s Development Cooperation and Humanitarian Aid funds.

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