Estonia: Doing business and staying in touch
Doing Business in Estonia
In general, Estonia, and the country's capital Tallinn in particular, is firmly embracing the European Union example of how business is conducted.Dress code is relatively formal, with suit and tie expected for business meetings, although new technology-based industries have incorporated more casual attire. Handshakes are the normal way to start any meeting, and gifts are appreciated, especially luxury items. Prior appointments are necessary, it may take time to arrange a meeting and it is best to reconfirm before setting off. Business is conducted formally and business cards are exchanged after introduction. Successful meetings are often followed by drinks in a pub or lavish dinners at an Estonian restaurant.
Office Hours
Mon-Fri 0900-1800.
Economy
The Estonian economy is widely seen as an excellent example of a transitional economy, providing its citizens with one of the best standards of living in the former Eastern bloc. A few years ago, growth rates were reaching over an extraordinary 10% per year but growth has slowed down somewhat, the country has by and large managed to remain unaffected by the ongoing Eurozone crisis. Estonia also has a thriving information technology sector, and trade with the West is strong. Unemployment is at around 12%, but the figure is much lower in and around Tallinn.
Other than oil-shale, which is present in significant quantities and provides the basis of the country's power generation, Estonia has few raw materials of its own and relies mostly on imported commodities to produce finished goods. However, Estonia's infrastructure, particularly the road network, is well-developed by regional standards.
GDP
US$21.42 billion (2012).
Main exports
Machinery and equipment, wood, metals, furniture, vehicles and parts.
Main imports
Machinery and equipment, mineral fuels, chemicals, textiles and food.
Main trading partners
Finland, Sweden, Germany, Latvia and Lithuania.
Keeping in Touch in Estonia
Telephone
Public telephones, which are plentiful, are operated by phonecards available from kiosks.
Mobile Phone
Roaming agreements exist with most international mobile phone companies and there is good coverage even on smaller islands.
Internet
The internet is key to Estonia's economic success. Free wireless zones can be found all over the country, including in hundreds of places in Tallinn and most hotels offer Wi-Fi for free. There is free internet access at Tallinn Airport. Public access is available at internet cafes, post offices and libraries in main towns and cities.
Media
Estonia was ranked 11th worldwide for press freedom in 2013 by Reporters Without Borders. The post-independence years of the early 1990s saw a large increase in the production of newspapers, which has now fallen off as the market becomes more stable. Privately-owned dailies include Postimees, Eesti Ekspress, Eesti Päevaleht and the business Äripäev, along with the evening tabloid Õhtuleht, and weekly Maaleht. Estoniya is published in Russian.
Broadcasting also boomed, attracting several foreign players. The public broadcaster is Eesti Televisioon, while TV3 and Kanal 2 are the two main commercial TV stations, which are owned by Swedish and Norwegian companies respectively.
Cable TV is popular as is radio. The public station is Eesti Raadio, which operates four networks including flagship station Vikerraadio. Raadio Elmar and Kuku Radio are privately-owned stations.
Post
Post to western Europe takes three to six days. In Tallinn the central post office is at 1 Narva mnt.
Post Office hoursMon-Fri 0900-1700. Some larger post offices may stay open longer, and also open on weekends.
