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Foreign Minister Paet: Ukrainian Investments in Estonia Have Tripled

07.12.2010

No. 383-E

While opening an Estonia-Ukraine business seminar this morning, Foreign Minister Urmas Paet said that Ukrainian investments in Estonia have tripled this year. “We hope that this trend of Ukrainian companies managing their activities in Scandinavia and the European Union from Estonia will continue,” added Foreign Minister Paet.

Foreign Minister Paet also noted that the work of the Estonia-Ukraine Intergovernmental Commission has been restored, the goal of which is to resolve issues that affect businesses. “It is important for Estonia that agreements for the protection of investments and other international obligations are completely fulfilled. Close to 30 agreements have been concluded between Estonia and Ukraine,” he stated.

Paet added that among the nations in which Estonia has made direct investments, Ukraine stands in 6th place with nearly 185 million euros. “The well-being of Estonian businesses and investments are important to us, and one of our daily tasks is to ensure favourable conditions for competitiveness and free access to the market in Ukraine,” he said.

The Estonian Business Association in Ukraine has started working in Ukraine, bringing together dozens of Estonian companies and others interested in Ukraine.

Paet said that this year the number of visa applications in Ukraine grew by a third compared to last year. “An important development is the Ukrainian airline AeroSvit starting regular flights next year,” he said.

Today Foreign Minister Urmas Paet will meet in Kiev with Ukrainian President Viktor Janukovitch, Prime Minister Mikola Azarov, and Foreign Minister Konstantin Grischenko.

Photos from the opening of the business seminar: http://www.flickr.com/photos/estonian-foreign-ministry/?saved=1

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