Undersecretary Ratnik: Estonia sees Ukraine as a strategic market of the future

TALLINN - Undersecretary of the Ministry of Foreign Affairs Mariin Ratnik participated in the EU-Ukraine business summit in Brussels, emphasizing that Ukraine is set to become one of Europe's fastest-growing economies in the next decade, offering significant opportunities for Estonian and European companies.

"There are nearly 400 companies in Estonia that export to Ukraine, and we want to increase this number. Our companies want to bring their solutions to Ukraine, especially in the digital, energy, defense, and infrastructure sectors, where Estonia has strong expertise," said Ratnik.

Although business activity continues to be limited by security risks, regulatory complexity, and a lack of financing and guarantees, Ratnik said that corporate interest will grow, especially once the risks of market entry are reduced by EU guarantees and insurance solutions. Clear projects and reliable local partners are also essential.

The European Union's Ukraine Investment Framework and other financing measures help reduce risks and attract private capital to the market. Estonia actively supports the participation of its companies in Ukraine's reconstruction. "A delegation of Estonian defense industry companies is currently in Kyiv, and a visit by companies from the energy and clean technology sector will soon follow," Ratnik noted. She added that the experience of Estonian companies already operating in Ukraine shows that early market entry provides a long-term competitive advantage.

Ratnik emphasized that adherence to the rule of law, transparent and digital governance, and simple administrative processes are key to attracting investment. Estonia's experience shows that investment flows to where there is clarity, speed, and trust. "A digital and transparent state is the most powerful investment magnet because you can't bribe a machine," Ratnik said.

Ratnik affirmed that Estonia sees Ukraine as a future European Union member state and an integral part of the European economic area. "The goal is the full integration of Ukraine into the EU's economic space - from harmonizing standards to developing joint projects and supply chains," she said.

Estonian companies ZeroTerrain, Milrem, KrattWorks, and Top Marine are also participating in the summit. As part of the event, special representatives for Ukraine's recovery met with Ukraine's Deputy Minister of Economy, Oleksii Sobolev. The focus was on improving opportunities for business and investment in Ukraine-topics that will be crucial to develop further at a practical level at the Ukraine Recovery Conference scheduled to be held in Estonia in 2027.