Estonia, Belarus sign agreement for protection of investments

Estonia and Belarus signed today an agreement for protection and facilitation of investments.

The Estonian Minister of Foreign Affairs Urmas Paet said at the occassion that the Foreign Ministry would like to support Estonian entrepreneurs in finding new markets and increase the security of Estonian entrepreneurs.

"The agreement concluded between Estonia and Belarus today for the facilitation and reciprocal protection of investments helps to increase the feeling of security for entrepreneurs," stated the foreign minister. Belarus is one of Estonia's top 20 trade partners.

At the opening of an Estonia-Belarus business forum in Minsk, Foreign Minister Paet said that the interest of Estonian entrepreneurs towards trade with Belarus is rapidly growing. "The base for future investments and the growth of trade is strong," asserted Foreign Minister Paet. "There is great potential on the Belarusian market, which is looking for and expecting foreign investors. Estonian entrepreneurs are very interested," he added.

Foreign Minister Urmas Paet stated that the participation of a 30-member business delegation in his visit pays testament to the fact that Estonian businesses have an active interest in Belarus. "Estonian businessmen can offer Belarus information technology solutions and opportunities for transit co-operation, or contribute to the developing Belarusian construction market and offer various services," said Paet, mentioning some examples of potential sectors for co-operation.

In 2005, Estonian export to Belarus totalled 219 million kroons, and in 2008 it was 850 million kroons.

A 30-member Estonian business delegation is participating in the Estonia-Belarus business forum.



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