Estonian ICT Trade Mission to UAE Explores Joint Investment Opportunities

DUBAI, UAE, Oct. 24, 2024 — In a significant move to strengthen bilateral relations, Estonia, represented by Trade Estonia, embarked on a specialized trade mission to the United Arab Emirates (UAE) focused on the burgeoning field of Information and Communications Technology (ICT). This initiative aimed not only to learn from the UAE’s best practices but also to explore collaborative avenues that could enhance trade relations and foster mutual prosperity.

A Strategic Initiative

The trade mission was led by Piret Sauter, Regional Manager for Distant Markets at Trade Estonia. The delegation comprised officials, senior business leaders, and representatives from six prominent Estonian companies specializing in innovative solutions across various sectors, including artificial intelligence (AI) and cybersecurity. The timing of the mission coincided with GITEX Global 2024, one of the largest technology exhibitions in the region, providing a unique platform for engagement with business leaders, investors, and innovators in the UAE’s ICT and digital economy sectors.

Sauter emphasized the importance of this visit, stating, "This trade mission aligns with Estonia’s strategic economic objectives to broaden its base of global trade partners and support the international expansion of local companies into markets offering promising prospects, such as the UAE and Gulf countries, particularly in the ICT sector."

Learning from the UAE’s Success

The UAE has established itself as a leader in the ICT sector, driven by government initiatives aimed at creating a sustainable digital economy. The Estonian delegation sought to learn from the UAE’s innovative approaches and success stories, with the hope of applying these insights to their own initiatives back home. Sauter noted, "Estonia is recognized as one of the world’s leading digital nations, and we aspire to leverage this progress to benefit other communities through cooperation with global partners."

The UAE’s ICT sector is experiencing rapid growth, with a market value projected to reach approximately AED 284 billion by 2029. The UAE’s Digital Economy strategy aims to double the contribution of the digital economy to non-oil GDP from 11.7% to over 20% within the next decade, making it an attractive destination for investment and joint projects.

Showcasing Estonian Expertise

The Estonian companies participating in the trade mission brought a wealth of expertise in digital innovation. Notable participants included:

• AdoptoMedia: Known for its innovations in predicting business KPIs, revenues, and valuations.
• Alpha 3D: An AI platform that enables game developers and content creators to seamlessly transform 2D texts and images into high-quality 3D digital assets.
• ConsultIT: A cybersecurity company focused on providing robust security solutions.
• Digiotouch: A provider of AI-powered search tools designed to enhance user experience.
• Wisercat Software: A leader in digital transformation solutions.
• Mountbirch: Specializing in custom software and user interface development.

These companies are eager to establish strong partnerships with regional counterparts to drive future technological innovation and sustainable growth in the ICT sector.

Strengthening Bilateral Relations

The trade mission is a testament to the growing bilateral relations between Estonia and the UAE, particularly in sectors aligned with their shared vision for sustainable economic development and digital transformation. Sauter expressed hope that the mission would pave the way for new partnerships that support innovation and foster growth for both nations.

"Estonian companies are distinguished by their flexible and customized solutions in the global market," she remarked. "We are keen to collaborate with partners to achieve optimal results and drive progress in technology and connectivity."

The Role of Trade Estonia

Trade Estonia, part of Enterprise Estonia, plays a crucial role in helping Estonian companies establish themselves in international markets. With a focus on future technologies and pioneering projects, Trade Estonia provides market analysis, marketing strategies, and access to international networks, thereby enhancing the global competitiveness of Estonian companies.

As Estonia continues to be recognized as a digital leader—ranking third in the Cybersecurity Index and first in the Global Digital Health Index—the collaboration with the UAE presents a unique opportunity for both nations to leverage their strengths and drive innovation in the ICT sector.

Conclusion

The Estonian ICT trade mission to the UAE marks a significant step towards fostering collaboration and investment opportunities between the two nations. As both countries strive for leadership in digital transformation and innovation, this partnership holds the potential to create a lasting impact on the global ICT landscape. With a commitment to sustainable growth and technological advancement, Estonia and the UAE are poised to embark on a journey of mutual benefit and shared success in the digital age.