RIYADH: Estonia is developing a “beautiful framework” with Saudi Arabia as trade relations grow between the two nations, according to a top minister from the European country.
Speaking to Arab News on the sidelines of LEAP, Tiit Riisalo, minister of economic affairs and information technology of Estonia, noted that the plan boasts two key pillars.
“One is the Saudi Vision for 2030, and then your Expo (2030) reach, and Estonia, both when the election or selection process was going on, there were three different candidates, we looked very thoroughly, what is sort of most potential partnership for us,” he said.
Riisalo continued: “Saudi Arabia clearly stood up from there and we agreed with during various meetings with your ministers that we just don’t look at Expo 2030 as a target in itself. But actually we start right now. We’ll make a clear roadmap.”
The minister also highlighted the positive relations between Estonia and Saudi Arabia, viewing them as a foundation for future growth.
Despite the relatively small trade volume and number of companies involved currently, Estonia sees potential for expansion and emphasizes focusing on the broader picture rather than specific growth percentages in the short term.
“Our relations with Saudi Arabia are really good, and we see this as a platform for future growth. Currently, the trade volume for last year is approximately €55 million and from an Estonian side from our export statistics we know that 64 different companies are engaged,” Riisalo said.
He added: “If you look at this in the global scale, these are not big numbers, but you have to keep in mind that Estonia is a small country with a population of over 1.4 million but I think our aim here, is not to sort of concentrate on the exact figures and how much percentage growth we will get next six months, but look at the broader picture.”
The minister further emphasized that Estonia has a highly advanced digital society compared to others around the world, suggesting that the country’s approach to digitalization is comprehensive and benefits the entire society.
