The Diplomat
The President of CEOE International, Marta Blanco, has received in her office the Estonian Ambassador to Spain, Andres Rundu, and the ‘number two’ of the Embassy, in charge of Political and Economic Affairs, Marlen Rein.
The meeting, which took place last Friday, highlighted the international context and the current challenges and priorities such as the reconstruction of Ukraine and the importance of strengthening the European single market, according to CEOE.
At the bilateral level, the need for greater knowledge between the business fabrics of both countries and the business opportunities and business collaboration offered by Spain and Estonia was also highlighted. In this sense, the digitalisation sector was pointed out, where there are several opportunities for start-ups and companies related to the digital ecosystem through the e-Residency programme, or the railway sector, where the Rail Baltica project stands out. Reference was also made to the importance of connectivity to increase business relations between the two countries.
Finally, lines of collaboration between the two institutions were identified, including various initiatives in the Spanish Autonomous Communities.
Estonia is a country whose GDP stood at 38.1 billion dollars in 2022 and which has a high growth potential, due to its openness to trade and foreign investment.
Bilateral trade records a traditional surplus in favour of Spain, reaching record figures in 2022, with exports of 327.10 million euros, an increase of 23.63% over the previous year, and imports of 183.81 million euros, representing an increase of 28.97% over 2021. In terms of investment, the stock of Spanish investments stood at 17.64 million euros in 2021, mostly in the food industry. Estonia’s investment stock in Spain was 43.33 million euros, with a total concentration in real estate activities.
