Prime Minister Kristen Michal says the support measure will boost the export capacity of Estonian companies. “Our exports have been shrinking for the past seven quarters, mainly due to the slowdown in the economies of Estonia’s largest trading partners, but a comparison of the first and second quarters of this year suggests some improvement,” he explained. “Effective measures are needed if we are to get exports back on track and ensure further growth. When demand starts rising again, the question of how we can make things with higher added value and for export will need to be answered. The new support measure will help companies boost their export capacity through more effective activities via representative organisations, so that more solutions with higher added value find their way to foreign markets.”
According to Minister of Economic Affairs and Industry Erkki Keldo, representative organisations have said there is a clear need for the support measure so that they can independently take action in support of exports.
“It is very important to listen to companies and their needs, and to make decisions on that basis,” he said. “We are working in the ministry to expedite the launch of the support measure so that these organisations can make a start as soon as possible on the action they need to take. That includes participating in trade fairs, hiring export advisors and undertaking or commissioning market research.”
Minister Keldo says the support will be targeted at smart, value-added areas in particular, including digital and sustainable energy solutions, health technologies and the valorisation of local resources. “We will be focussing on sectors with the greatest potential for innovation and international growth,” he added. “Assuming a stronger position on key foreign markets with these sectors will help us to boost exports and the economy as a whole.”
The Ministry of Economic Affairs and Communications plans to launch the measure by spring 2025 and expects to support around 10 representative organisations over two years.
