Yesterday, 27 January, a US business seminar was held at the Ministry of Foreign Affairs, bringing together entrepreneurs, international experts and diplomats to discuss market specifics, present business opportunities and share experiences.
The day was opened by Foreign Minister Margus Tsahkna, who noted that even in changing circumstances, the United States remains an important trading partner. “Nearly 1,000 Estonian companies export goods and services worth around €1.7 billion annually to the United States, with services accounting for the larger share. Given the size of the market, there is still considerable room for growth,” Tsahkna said.
He emphasised that alongside security issues, business diplomacy is also a priority for the Ministry of Foreign Affairs, and encouraged all entrepreneurs to make use of the support of Estonia’s embassy and to establish new export contacts.
“With some ingenuity, political will, and strategic vision, I think Estonia possesses the ingredients necessary to solidify its place as a trusted and reliable economic ally of the United States,” said the US Ambassador to Estonia, Roman Pipko, in his address.
Estonia’s Ambassador to the United States, Kristjan Prikk, assured entrepreneurs that although the US government views tariffs as a universal tool, there are still opportunities for many companies. “We see that higher-margin products and services are more successful, as they are not immediately or directly affected by potential regulatory changes. In sectoral terms, there are good examples ranging from IT to pianos, the defence industry, and new technologies more broadly,” Prikk said.
Experts from the US Embassy in Tallinn introduced trade and export regulations, government economic programmes and visa issues relevant to entrepreneurs. US legal and business specialists Anne Wolfson and Jacob Willemsen stressed that to avoid pitfalls, it is worth engaging a market-savvy specialist at an early stage, and that relying on ChatGPT for legal matters is not advisable, as mistakes can be very costly.
Investment expert Rashmi Joshi noted that modesty is not considered a virtue in the United States; on the contrary, companies are expected to demonstrate ambitious growth and strong potential. The head of the Estonian Business and Innovation Agency (EIS), Ursel Velve, presented EIS’s new strategic objectives and plans to entrepreneurs.
The entrepreneurs’ panel discussion was moderated by Daria Sivovol, head of AmCham, and featured representatives from Nortal, Ööd Houses and Roofit.Solar, all of whom are actively operating on the US market. The entrepreneurs agreed that presence and commitment are critical.
“You need to be present, active and in the rooms where decisions are made,” emphasised Allan Bernard, a representative of Nortal. According to him, Nortal typically enters a new market in several stages.
“First, we run a pilot project, and if that shows the market works, we set up a small local team whose task is to build the initial sales pipeline. On that basis, we expand and eventually acquire a local company,” Bernard explained. He added that the Ministry of Foreign Affairs and various business organisations provide valuable support when entering a new market.
Ööd Group CEO Andreas Tiik said that the starting point should be buying a plane ticket and going there in person.
“You definitely won’t figure out how to sell in the United States while sitting in Estonia. Trust is the foundation of everything, and to build trust you need to be on the ground,” Tiik said. According to him, the most challenging aspect has been navigating different regulations. At present, the United States already accounts for more than half of Ööd Group’s total business.
According to Ando Konrad, a representative of Roofit.Solar, customers in the United States are different. “While Europeans tend to focus heavily on facts and Excel spreadsheets, decisions in the US are more often driven by emotion,” Konrad said. He stressed that even with thorough preparation, many unexpected issues arise that are simply part of the process. “You need to keep your overarching goal in sight and move towards it flexibly,” Konrad said.
The day concluded with presentations by EIS US export adviser Silve Parviainen and Terje Raadik, economic diplomat at Estonia’s embassy in Washington, who outlined the state’s activities and plans and encouraged entrepreneurs to seek advice and support.
The US business seminar was organised in cooperation with the Estonian Business and Innovation Agency.
Companies starting out on the US market are encouraged to familiarise themselves with the market strategy: https://vm.ee/en/export-us
Gallery (photos by Aron Urb): https://www.flickr.com/photos/estonian-foreign-ministry/albums/72177720331682492/
The event is funded by the European Union’s recovery instrument NextGenerationEU.
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