Riyadh: The Federation of Saudi Chambers (FSC) today organized the Saudi-Estonian Business Forum, attended by Estonian Minister of Foreign Affairs Margus Tsahkna, FSC President Hassan Al-Huwaizi, Estonian Ambassador to Saudi Arabia Maria Belovas, and over 80 investors, aimed at exploring ways to boost trade and investment cooperation between the two countries.
According to Saudi Press Agency, the Estonian delegation included agencies and companies operating in fields such as international trade development, information and communication technology, energy, education, healthcare, and construction. Tsahkna highlighted Estonia's economic transformations and the incentives offered to investors, inviting Saudi business leaders to explore investment opportunities in Estonia.
Tsahkna stressed Estonia's interest in technology and digital transformation, expressing readiness to share expertise with Saudi Arabia while exploring opportunities in the Saudi market. He cited Estonia's capabilities in innovation, creativity, and its investment in human capital, cybersecurity, education, and startups.
Meanwhile, Al-Huwaizi emphasized Saudi Arabia's eagerness to enhance ties with Estonia, describing it as a gateway to the Baltic states and Eastern Europe and a leader in digital transformation and e-government services. He invited Estonian companies to take advantage of the incentives Saudi Arabia offers to foreign investors, particularly in projects aligned with Saudi Vision 2030.
Trade volume between Saudi Arabia and Estonia reached SAR259 million in 2024, including SAR35 million in Saudi exports and SAR224 million in imports, indicating significant potential for expanded trade and investment cooperation.