In late August, the France-Estonia Chamber of Commerce and Industry was officially launched. Estonian companies can now use the services of the Chamber of Commerce and Industry (CCI) to start a business in France, and vice versa. 

“The inauguration of the French-Estonian Chamber of Commerce and Industry is a testimony to the growing relations between France and Estonia. Our nations stand next to each other in defending the freedom as allies in NATO and in the same spirit we have seen landmark mutual investment deals happening,” said Andres Sutt, President of the Estonia-France Parliamentary Friendship Group.

“Skeleton’s investment in France to start developing next-generation battery technology and Corsica Sole’s decision to build together with Evecon the largest battery park in Europe are the proof of growing business ties between Estonia and France. Developing technological superiority and strategic autonomy of the European Union is in the national interest of our both countries. The Chamber has an important contributing role to play here by facilitating innovation, trade and investment,” noted Sutt.

France-Estonia Chamber of Commerce aims to strengthen economic ties

The first steps were taken on 10 February 2022 with the creation of CAdFE (Business Club for Francophones in Estonia) counting 48 active members in June 2024. CAdFE organised 30 events, conferences and meetups from June 2022 until June 2024. In March 2024, CAdFE applied to become an official Chamber and to join CCI France International. After undergoing an audit and very thorough interviews, CAdFE candidacy was accepted during the CCI France International Annual General Assembly held in Paris on 25 July 2024.

This establishment integrates the new Chamber into the vast international network of CCI France International, which brings together 120 chambers in 95 countries, comprising 35 416 companies. CCI France International consolidated revenue in 2023 was 80,5 million euros. Additionally, the France-Estonia Chamber of Commerce and Industry is also linked to the French Chambers network, comprising 163 entities nationally.

“We invite all Estonian companies interested in doing business in France and internationally to join the Chamber. The more we come together, the further we can go! Our goal is to strengthen our economic ties and achieve mutual success: accelerating business for our members. Currently, France is Estonia’s 12th largest economic partner, and we aspire to see it move into the top 10,” said Violaine Champetier de Ribes, President of the France-Estonia Chamber of Commerce.

The interest of French companies and entrepreneurs in Estonia increases

“France is an important trade partner for Estonia. Direct investments of French companies in Estonia already account for 2% of all investments, and the export of services has also increased tremendously in recent years. Cooperation in deep technology and start-up companies is also growing, for example in the field of environmentally friendly packaging materials, hydrogen and biotechnology,” said Sandra Särav-Tammus, Deputy Secretary General for Economics and Innovation at the Ministry of Economic Affairs and Communications.

“I hope that the economic relations between the two countries will gain further momentum with the opening of the Chamber of Commerce, which will certainly contribute to the increase of competitiveness in both countries and in the EU,” she added.

The transformation of the Business Club for Francophones in Estonia into an official Chamber of Commerce is the result of more than two years of hard work, as well as the reward for its remarkable dynamism coupled with a solid knowledge of the French-Estonian economic landscape, mentioned Emmanuel Mignot, French Ambassador to Estonia. “The announcement underlines the interest of French companies and entrepreneurs in Estonia and strengthens the economic relations between our two countries,” said he.

GOOD TO KNOW

• Bilateral trade between France and Estonia saw significant growth between 2020 and 2021, driven by the post-COVID economic recovery.
• In 2023, Estonian service exports to France were particularly robust, increasing by 22%. Services now account for 40% of the total trade value. French goods exports to Estonia reached €755 million, highlighting the potential for further trade expansion.
• In 2022, France was the 13th largest customer and supplier. In 2023 it became the 13th largest customer and the 12th largest supplier. Including services, France gains a position and becomes Estonia´s 12th largest economic partner. Trade with France represents 1.9% of Estonia’s foreign trade (+0.2 points).
• French exports decreased by 13.5% in the first six months of this year compared to the same period last year (€203 million in 2024 versus €235 million in 2023). The largest declines were seen in electronics and computer products (-19%) as well as transport equipment (-37%).
• French imports of Estonian products remained generally stable in value (around €170 million in the first six months of the year). However, there was a slight decrease in wood imports (-9%, approximately €45 million) in favor of a significant increase in imports of computer and electronic equipment (+54%, approximately €30 million). These two import sectors represent, in value, half of the products imported by France from Estonia. There was also a decline in French imports in the agricultural products sector (-96%), hydrocarbons, and pharmaceutical products.
• Estonia’s primary exports to France include wood and wood products.Other major export categories include machinery and electronic equipment, as well as manufactured goods, chemicals, and industrial products. Conversely, Estonia imports vehicles and transport equipment from France machinery and electronic equipment, prepared foods, beverages, tobacco and chemicals.

Source: General Directorate of the Treasury, Ministry of the Economy, Finance, and Industrial and Digital Sovereignty of the French Republic

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