Ladies and gentlemen,

I am glad to be here to open this business seminar. I am glad to be in the Icelandic Chamber of Commerce, in the place where the real life shapes the politics.

In my opinion, the business seminars are among the most important parts of any state visit. Accordingly, we prepared this visit rather thoroughly. We met with people doing business with Iceland and asked them whether there is anything that needs improving in our business relations. The usual reply was that Estonian businessmen are very happy with the situation as it is. The governments of our two countries have created a business environment, which can only be described as favourable. I was, of course, glad to hear this.

I know that many businesses in Iceland are dealing with Estonia, and I would have liked to visit every one of them, especially the newly refitted Bolungarvik factory of the Bakki company, which, to my knowledge, is processing shrimps caught mostly by Estonian fishermen. Sadly, however, the schedule of this visit sets its limits. Nevertheless, I am sure that many companies who deal with Estonia have sent their representatives to this seminar and that there will be many meetings of old business friends.

There are very few things in this world, which cannot be improved upon. This seminar aims at creating new mutually profitable business relations. They may be in the traditional branches of business - or completely new ones. I have asked the members of our business delegation to prepare three very businesslike presentations: one about Estonian business climate in general, one about our tax system, especially about the new business-friendly changes, and one about investment opportunities in Estonian fisheries.

I hope you will find these presentations informative and that new mutually profitable business will result from this meeting.

Thank you, ladies and gentlemen.

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