According to Kallas, Estonia and Germany as innovative countries have a lot of potential to join forces in implementing the green transition and digital revolution. “It makes sense to approach these great challenges together. To this end, we need to take the lead in developing innovative technologies and services, working with researchers and entrepreneurs. I encourage German companies to look for these cooperation opportunities with Estonian partners,” said the Prime Minister.
Kallas noted that the green transition offers an opportunity for the economy as a whole to make a leap forward. “Transforming the economy to become more sustainable in terms of the climate requires not only the development and deployment of innovative technologies, but also the transformation of business models.”
At the meeting with entrepreneurs, the Estonian Prime Minister emphasised that the digital revolution makes it easier and more convenient to use services, which in turn supports both the economy and society. “Our more than 20 years of experience with digital and e-government solutions prepared us to better cope with the restrictions and difficulties of the pandemic. This applies to the use of public services and e-commerce, as well as to education and health,” said Kallas.
Kallas also told the entrepreneurs that the effects of the health crisis on the economy have turned out to be smaller than initially feared. In the first quarter of this year, economic growth was already 5.4 per cent. According to the Prime Minister, the Estonian economy has been successful thanks to organised public finances, a good business environment, openness to foreign trade and investment, as well as a strong physical and digital infrastructure. “Trading partners from the Nordic and Baltic countries, whose economies have also performed relatively well, have also contributed to the good result,” said Kallas, adding that Estonia has also kept its economy and society more open than a large part of other European countries.
Among the companies that participated in the meeting are companies interested in cooperating with Estonia, companies already operating in Estonia, and domestic companies represented on the German market: Kuehne+Nagel Group, Axinom GmbH, ARIC – Artificial Intelligence Centre Hamburg, Hamburger Hafen und Logistik AG, Siemens Energy, Nortal AG, and Skeleton Technologies GmbH.
Germany is the fourth most important trading partner for Estonia. Trade has almost doubled in the last five years. Investments have mainly been made in real estate, manufacturing, professional and research activities, and wholesale and retail trade.