Estonia welcomes more Chinese investment
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Sort of Life: Could you enlighten on the areas of cooperation between the countries that may lead to step-up in bilateral trade?
Krister Kalda: Since Estonia regained its independence, Estonian-Chinese relations have developed at a rapid pace and are very good. The development of relations has taken place thanks to reciprocal initiatives: many visits have taken place between the two nations and the most important bilateral agreements have been concluded.
Potential areas of co-operation include the manufacture of wood, food products, and other manufactured goods, information technology, education, and tourism. China has also shown interest in Estonian biotechnology and oil shale processing.
Cluster development in Estonia has been very successful. The logistics sector is one of the Estonian economy drivers and it is closely related to the development of many other areas. In October 2010 Estonian Logistics Cluster, a cooperation program of logistics companies, higher schools and specialist associations were promoting Estonia's logistic location and competition advantages in several cities in China, in Beijing, Shenzhen and Shanghai.
Sort of Life: Estonia is geographically the closest EU member state to China, is Estonia willing to be the trade and investment hub of China in Europe?
Krister Kalda: Estonia is very much interested to be the trade and investment hub of China in Europe. One of the main tasks for our Shanghai office is to promote Estonia as a favorable country for that.
For example, iIn October 2011, China Summit will be organized in Tallinn, in Capital of Estonia.
The main objectives of China Summit are:
1. To develop the business relations between North-European countries and China – one of the biggest producers and markets in the world.
2. To strengthen the cooperation between companies from different North-European countries, when expanding their business with Chinese companies.
Sort of Life: What are the sectors that Estonia is welcoming investment? What type of support the foreign investors are going to get?
Krister Kalda: Key sectors are: ICT, Transport & logistics services, Business & financial services, Industrial machinery & metalworking, electronics.
Structural Assistance is allocated by the EU to Estonia for the purpose of supporting development of the economy in Estonia. In the period of 2007-2013 Estonia was allocated more than EUR 3.4 billion from the Structural Assistance, which will be channelled to the following fields: energy economies; entrepreneurship; administrative capability; education; information society; environment protection; regional and local development; research and development activities; healthcare and welfare; transportation; labour market.
Enterprise Estonia is the largest national business support system in Estonia: provides grants and assistance for Estonian businesses (incl. foreign investors) from early stage to large business development, budget of 1,3 billion USD (2007-2013). EU funds are available for companies registered in Estonian Commercial Register.
Estonian Investment & Trade Agencies Services include:
* General information inquiries
* Detailed investment proposals and studies
* Investment tours of Estonia (scheduling business meetings, identifying properties, organizing recruitment, etc)
* Advice on financing (incl. grants)
* Negotiations with authorities
* Sourcing
* Investor aftercare services
Estonia is a great country for doing business and we do hope that more Chinese companies can come and succeed in Estonia. Estonia is open for Chinese businesses and every business registered in Estonia is treated as equal to any other Estonian company. We do not differentiate between companies based on the nationality of their ownership.
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