The Embassy of Ireland in Estonia works closely with Irish state agencies to promote trade, tourism and investment.
Established in 2015 with the active support of Embassy Ireland, this new network is made up both Irish and Estonian professionals from a wide range of sectors. The objective of the IEBN is to establish a network of people who are interested in developing business cooperation in and between Estonia and Ireland, in particular business-to-business, education and tourism. The IEBN organises workshops on topics of interest to Irish-Estonian business individuals. Seed funding for the establishment of a website and a number of workshops was announced by Min. Séan Sherlock at an IEBN function on Digital Marketing in June 2015. For more information about the Network and how to join, please see IEBN website .
In June 2015, Min. Séan Sherlock led the Estonian leg of an inaugural Enterprise Ireland Baltic Market Study Visit to Estonia involving ten Irish firms from a number of sectors. This visit followed that of a trade mission by Invest Northern Ireland to Estonia in February 2015 as part of its now Baltic Market annual mission. The business delegation of British-Estonian Chamber of Commerce visited Belfast and Dublin in October 2013 for various meetings. In November 2013 an Estonian public-private financial sector cluster organisation called Finance Estonia visited Dublin.
Bilateral trade in goods and services is relatively modest in the region of €100m p.a. In 2014, Ireland ranked as Estonia’s 35th trade partner, the main imported articles from Ireland were machinery and equipment (47 %) and chemical products (20.6 %). Main export articles from Estonia were machinery and equipment (62.4%) and timber products (20.8%). Overall trade in goods increased by 28% in the first half of 2015.
According to the Bank of Estonia, as of 30 June 2015, Irish companies had made direct investments totaling €75.6m in value in Estonia, which makes up 0.5% of all foreign investments in Estonia. Most Irish investments were made in real estate, wholesale and retail trade, agriculture, and wood processing. In 2014, Estonian companies had invested €0.8m