Export aid to be introduced for Estonian companies
Text Susanna Poikela Photo Andrei Chertkov
A meeting of the Estonian government has approved a proposal by Minister of Economy and Industry Erkki Keldo to create export subsidies. The aim of the support measure is to strengthen the capacity of trade organisations to develop export activities in their own sector and to channel resources into exporting high value-added products and services to foreign markets. It will be worth 2 million euros and financed by the EU’s Structural Funds.
According to Prime Minister Kristen Michal, the support measure will strengthen the export capacity of Estonian companies. “Our exports have been shrinking for the last seven quarters, mainly due to the economic slowdown of Estonia’s main trading partners, but a comparison of the first and second quarters of this year already points to an improvement,” said the Prime Minister.
“It is very important to listen to businesses and their needs and to make decisions based on them,” added Erkki Keldo, Minister of Economy and Industry.
Minister Keldo says the support will be targeted in particular at digital and sustainable energy solutions, health technologies and the use of local resources.
“We will focus on sectors with the greatest potential for innovation and international growth. A stronger position of these sectors in key foreign markets will help boost exports and strengthen the economy as a whole,” he concluded
The Ministry of Economic Affairs and Communications plans to introduce the support measure by spring 2025.
To learn more about this and similar topicsErkki Keldo Estonia Economic Growth Estonia export subsidies 2024 Estonia High Value Exports Estonian Government export support Estonia trade sector Kristen Michal Sustainable energy
