Tsahkna Seeking New Opportunities for Estonian Companies in Vietnam

TALLINN - Foreign Minister Margus Tsahkna is visiting Vietnam this week with an Estonian business delegation to strengthen economic cooperation between the two countries. The business delegation includes 12 companies from various sectors.

"Southeast Asia is one of the world's fastest-growing regions, and Estonian companies have a clear interest in the opportunities there. Our goal is to strengthen economic relations and create better conditions for Estonian companies to operate in Vietnam and the wider region," said Foreign Minister Margus Tsahkna. The current visit is a follow-up to the Vietnamese prime minister's visit to Estonia last summer, where several Estonian companies established contacts on which to now build potential cooperation.

According to the foreign minister, the European Union-Vietnam Free Trade Agreement provides a strong foundation for cooperation. "We have companies from very different sectors in the business delegation, all of whom are looking for new markets even further away. This, in turn, helps Estonia to diversify its trade relations," the minister said, adding that Estonia has smart and competitive solutions to offer.

For Hekotek, a machine-building company in the business delegation, Vietnam is not an unfamiliar market. "We have supplied a pellet plant to a Japanese company operating in Vietnam, which is still the largest in Vietnam and certainly one of the safest," said the company's CEO, Margo Muzakko. According to him, the production of wood pellets is on a clear growth trend in the region, and Hekotek wants to participate in this development.

In addition to Vietnam, the company is interested in the entire Southeast Asian market more broadly. "If this visit format proves to be a good way to create new contacts, we will consider participating in similar visits in the future. In any case, we expect meaningful meetings, new contacts, and potential cooperation opportunities," Muzakko said.

The business delegation also includes Lendurai, an Estonian company that develops autonomous drone solutions. "We have not operated with our company in this region before, but we see that it could be a promising market for our products as well," said the company's head of business development, Ramil Lipp.

According to him, the company's expectation is to find contacts that would bring them contracts and generate business in the future. "We are looking for both end-users and potential partners with whom to cooperate in the future," Lipp explained, adding that such visits create good opportunities for future business activities.

The visit includes an Estonian-Vietnamese business seminar, meetings with regional honorary consuls, and various business meetings.

In addition to Hekotek and Lendurai, the business delegation includes Scandinavian Exports, 5.0 Robotics, Dipperfox, Zero Terrain, A. Le Coq, NV Trade, Andres Glass Solutions, Omniva, Saku Brewery, the Estonian Chamber of Commerce and Industry, and the Estonian Business School.

During the visit, Foreign Minister Margus Tsahkna will also meet with Vietnamese Prime Minister Le Minh Hung, Foreign Minister Le Hoai Trung, and Deputy Minister of Industry and Trade Phan Thi Thang.