Mr. President,
Ladies and gentlemen,

First of all, I am very glad that the President of Poland has come to open this business seminar, that he has come to the place where the real life shapes the politics, shapes the future of Estonian people.

Since this is a business seminar, I would like to be businesslike and to limit myself to a few brief remarks about Estonian-Polish business relations.

The governments of our two countries have created a business environment, which can only be described as very favourable. We have a free trade agreement, an agreement on avoiding double taxation, a transport agreement and an investment protection agreement. These are only a part of a comprehensive complex of agreements, which together create good possibilities for Estonian and Polish businessmen.

Foreign trade statistics prove that Poland is a reliable and stable business partner. However, I must say, that in this case, the word "stability" has a dangerous ring to it. If the trade volume between our countries would remain stable, it would stay at slightly over one per cent of Estonia's foreign trade. I am convinced that for a country which is so close to us in many respects and for a country with such a business potential, the nineteenth place among our business partners is not nearly high enough.

There are signs of improvement. Bank Handlowy of Poland currently owns around five per cent of Hansapank, one of Estonia's most successful enterprises. As we know from the Central European example, where the banks go, the others follow. Currently the Handlowy's investment is 71 times bigger than all other Polish investments in Estonia together. However, at around 200 million Estonian kroons, this figure should be easy to improve upon.

I am sure that today's business seminar will result in numerous mutually beneficial business contacts.

Thank you, Mr President,
thank you, ladies and gentlemen.

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