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Foreign Minister Meets Palestinian Authority Delegate

In Uncategorized on April 8, 2011 by admin Tagged: , , , , ,

TALLINN(ERR.ee) – At the April 8 meeting in Tallinn between Foreign Minister Urmas Paet and the chief representative of the General Palestine Delegation in Helsinki, Nabil Al-Wazir, the main topic on the agenda was, quite expectedly, joining forces in the effort to find the 7 Estonian tourists abducted in Lebanon. “Estonia communicates with all nations in the region to achieve cooperation in order to find our citizens,” Paet said. “We have also requested Palestinian cooperation.” Al-Wazir assured Paet of the Palestinian Authority’s will to cooperate and give Estonia assistance in the matter.

Paet and Al-Wazir spoke about the Middle East peace process and the latest developments in Palestine. As far as bilateral relations go, Paet said Estonia will continue sharing its know-how with the Palestinian Authority on developing interoperability of electronic databases.

Paet also said that Estonia is preparing to assign a representative to the Palestinian Authority in the near future.

 

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Tallinn builds house of straw

In Uncategorized on April 7, 2011 by admin Tagged: , , , , , , , ,

TALLINN(BalticTimes) – A theater built from straw, which is projected to be the biggest installation during the European Cultural Capital 2011 festivities in Tallinn, is currently undergoing construction and will open its doors in less than a month, reports news agency LETA. Straw is a worthy building material, which does not harm the environment and is so inexpensive that the theater house will accommodate a large hall, lobby, cafe, outdoor children’s playground and a small sporting area for a cost…. read more

 

Want to sell more? Visit Estonian EXPO Center in Tallinn Airport at Gate 3, it’s the world’s first permanent trade fair in an airport. You can show your products to 1.8 Mill. passengers per year  for as little as One Euro per hour! We offer business to business and B2C. The One Euro per hour includes: set up, live hostesses, distribution of leaflets and samples, collection of new sales leads for you, electricity and cleaning. Estonian Expo Center is open 15 hours a day 7 days a week. There is no cheaper or better way to brand your company and products in the Baltics…. read more about why it works!

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Tallinn Airport reports increase in passengers by 26% in March

In Uncategorized on April 7, 2011 by admin Tagged: , , , , ,

TALLINN(BalticCourse) – Tallinn Airport served 137,302 passengers in March 2011 which was 25.6% more than a year earlier, reports LETA/BBN referring to Aripaev.

The number of passengers on international lines went up 25.4% in a year to 135,006 people.

Month on month, the growth was 31.8%, according to the airport operator.

The airport also handled 1,062 tons of cargo which is 74.5% more than a year earlier.

During the month, Tallinn Airport served 3,228 flights or 22.1% more than in March 2010.

 

Want to sell more? Visit Estonian EXPO Center in Tallinn Airport at Gate 3, it’s the world’s first permanent trade fair in an airport. You can show your products to 1.8 Mill. passengers per year  for as little as One Euro per hour! We offer business to business and B2C. The One Euro per hour includes: set up, live hostesses, distribution of leaflets and samples, collection of new sales leads for you, electricity and cleaning. Estonian Expo Center is open 15 hours a day 7 days a week. There is no cheaper or better way to brand your company and products in the Baltics…. read more about why it works!

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New Estonian cabinet inaugurated

In Uncategorized on April 6, 2011 by admin Tagged: , , , , , ,

Toomas Hendrik Ilves

TALLINN, April 5 (Xinhua) — Estonian President Toomas Hendrik Ilves on Tuesday inaugurated here the new cabinet of ministers led by Prime Minister Andrus Ansip.

“The strong parliamentary majority won in the election gives you a mandate and an opportunity to make decisions based on that majority. However, sound political culture means that different opinions also get noticed and taken into account,” Ilves said at an inauguration ceremony.

The president called on the new cabinet to bring public debate out of Parliament and its committees, and to listen to non- governmental organizations (NGOs), professional associations and non-partisan experts.

In his address to the Parliament, Ansip outlined his government ‘s goals for the next four years, stressing the importance of improving the quality of people’s lives.

“The government’s goal is the creation of an Estonia where our culture will develop, where more children will be born and Estonians will have longer lifespans, and where people will want to live happily,” Ansip said.

Ansip pledged to continue structural reforms in education and pension, make strategic decisions for the national energy sector, create an insurance system for industrial accidents and improve labor market flexibility.

The prime minister also touched on tax and business issues. “We intend to reduce labor taxes, lower the income tax rate to the same level as Value Added Tax, abolish the tax on payments given for job-related training, develop the business environment in a direction that is more friendly to businesses and increase social security for families with children and retired people,” he added.

 

Want to sell more? Visit Estonian EXPO Center in Tallinn Airport at Gate 3, it’s the world’s first permanent trade fair in an airport. You can show your products to 1.8 Mill. passengers per year  for as little as One Euro per hour! We offer business to business and B2C. The One Euro per hour includes: set up, live hostesses, distribution of leaflets and samples, collection of valuable sales leads to you, electricity and cleaning. Estonian Expo Center is open 15 hours a day 7 days a week. There is no cheaper or better way to brand your company and products in the Baltics…. read more about why it works!

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US group takes over Estonian rare earths processor

In Uncategorized on April 6, 2011 by admin Tagged: , , , , , , ,

Molycorp takes over Silmet Group

TALLINN — US group Molycorp has bought out Estonia’s Silmet, one of only two rare earth processors in Europe, the latter’s director told AFP Monday, amid concerns over China’s stranglehold on the crucial metals.

David O’Brock said that Colorado-based Molycorp paid around $89 million for a 90-percent stake, the bulk bought from parent company Silmet Grupp which will retain almost 10 percent.

Rare earths such as lanthanum, cerium, praseodymium or neodymium are vital components in hard-drives and computer screens, while the metals are also pivotal in making laser missile systems, hybrid engines, wind turbines and solar panels.

China produces more than 95 percent of the world’s rare earths, and in recent years has cut back exports radically, resulting in rocketing prices.

That has caused a spat with the United States, which in December called on China not to use rare earths as a “trade weapon” after Japanese industry said Beijing temporarily froze exports amid a territorial row.

China denied any political motivations, insisting the export restrictions were due to environmental concerns and the need for a more sustainable approach.

This year Beijing has also tightened its grip by setting new emission limits on mines producing the lucrative metals.

Silmet, which employs 550 people, is located in the northeastern Estonian town of Sillamae.

“The global demand for our production has been huge but we have been working below capacity, the bottleneck has been the mine,” O’Brock said.

“The deal with Molycorp will secure Silmet with raw material. Molycorp has its own mine in California, so we do not need to worry about delivery problems of raw materials any more,” he added.

Silmet currently imports ores for processing from Russia.

It produces 3,000 metric tonnes of rare earths per year, or roughly two percent of annual global supplies.

The facility started out as a top secret site processing uranium when Estonia was ruled by the Soviet Union, before shifting to the rare earth sector after the Baltic state won independence in 1991.

Europe’s only other rare earth processor is France-based Rhodia.

On Monday Belgian chemicals and plastics group Solvay announced it is making a friendly takeover of its rival Rhodia worth 3.4 billion euros ($4.8 billion).

Source © 2011 AFP

Want to sell more? Visit Estonian EXPO Center in Tallinn Airport at Gate 3, it’s the world’s first permanent trade fair in an airport. You can show your products to 1.8 Mill. passengers per year  for as little as One Euro per hour! We offer business to business and B2C. The One Euro per hour includes: set up, live hostesses, distribution of leaflets and samples, collection of valuable sales leads to you, electricity and cleaning. Estonian Expo Center is open 15 hours a day 7 days a week. There is no cheaper or better way to brand your company and products in the Baltics…. read more about why it works!

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Estonia ranks 17th in ease of doing business index, ahead of Japan

In Uncategorized on November 15, 2010 by admin Tagged: , , , , , , , , , , , ,

estonia, best european business climateEstonia has ranked 17th out of 183 countries in the Doing Business 2011 report released this week, retaining the same position it held in last year’s list.  The rankings, which are part of a project by the International Finance Corporation and the World Bank, take into account areas such as the ease of registering a business, paying taxes and obtaining credit.Singapore topped the list, followed by Hong Kong and New Zealand. The UK and US came in 4th and 5th place respectively.

Estonia’s 17th place ranking puts it just ahead of Japan, and one place behind South Korea.

The 2011 report was based on data from the June 2009 to May 2010 period.

Read also Macro Monitor from Danske Bank about Estonia and the amazing return of GDP to 6%!

Want to sell more? Visit Estonian EXPO Center in Tallinn Airport at Gate 3, it’s the world’s first permanent trade fair in an airport. You can show your products to 1.8 Mill. passengers per year  for as little as One Euro per hour! We offer business to business and B2C. The One Euro per hour includes: set up, live hostesses, distribution of leaflets and samples, collection of new sales leads for you, electricity and cleaning. Estonian Expo Center is open 15 hours a day 7 days a week. There is no cheaper or better way to brand your company and products in the Baltics…. read more about why it works!

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Estonia’s taxation system attracts fast-growing companies

In Uncategorized on November 15, 2010 by admin Tagged: , , , , , , , , , , ,

zero corporate tax in estonia“Estonia has the best laws, very good banks, cheap bookkeeping services and less bureaucracy than, for instance, in Germany or Lithuania. But the most important thing is that Estonia does not tax profits,” says Nerijus Strumila, board member of Lithuanian-owned Euroalliance that is registered in Estonia.

The Lithuanian family-owned business that is registered in Estonia sells scrap metal and trades goods abroad, mostly operating in Germany, US, Lithuania and elsewhere in the EU. It is also a textbook example of foreign businessmen whose markets are outside Estonia, but who decide to incorporate the company in Estonia for tax reasons, writes Äripäev.

Euroalliance was founded in 2005 and is 100% owned by Antaninan Strumiliene, mother of Nerijus Strumila. The company made a profit of 70 million kroons at sales of 160 million kroons in 2008 putting its owner on 218th place in the Äripäev list of Estonia’s richest businessmen.

Another company that is incorporated in Estonia, but operates in 23 countries abroad, mainly in Poland, is oil trading firm E100 Baltia. “Estonia has created a very good legal framework for companies and has a good business environment,” says the company’s owner, Belarus businessman Denis Bokhan, who is Estonia’s 77th richest businessman.

E100 Baltia is Estonia’s fastest-growing company. It was founded in 2005 and in 2009 increased its revenues from 250 million kroons to 957 million kroons. 2009 profit was 63 million kroons.

Tax expert Lasse Lehis says that one of the main reasons why foreign businessmen like to set up companies in Estonia is that such companies do not have to pay income tax on profits unless the profit is paid out as dividends.

“Estonia is definitely not a tax haven,” emphasises Lehis, adding that the information in the Estonian commercial register is public and foreign tax authorities can obtain information from the Estonian tax service to check whether the operations of their businessmen are legal. “Such transition of companies into Estonia is also helping Estonia to collect state duties and is boosting sales of providers of accounting services, for instance,” he added.

There are also plenty of critics. One of them is Viktor Trasberg, lecturer of economics of the Tartu University. “In the last decade, the Estonian state has failed to collect about 50 billion kroons in income tax,” says Trasberg.

Want to sell more? Visit Estonian EXPO Center in Tallinn Airport at Gate 3, it’s the world’s first permanent trade fair in an airport. You can show your products to 1.8 Mill. passengers per year  for as little as One Euro per hour! We offer business to business and B2C. The One Euro per hour includes: set up, live hostesses, distribution of leaflets and samples, collection of new sales leads for you, electricity and cleaning. Estonian Expo Center is open 15 hours a day 7 days a week. There is no cheaper or better way to brand your company and products in the Baltics…. read more about why it works!