We aspire to live in countries where companies offer competitive products and services, have modern business processes, and exhibit a strong openness to business and growing exports. When entering foreign markets, it is crucial to understand and learn about the target market and shape your value proposition accordingly. This article explores ways to improve business ties between Germany and Estonia, though many aspects are universally applicable.

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Estonia’s wood processing industry is a vital component of the country's economy, contributing significantly to employment, regional development, and export revenues. A recent socioeconomic impact analysis conducted by Ernst & Young on behalf of the Estonian Forestry and Wood Industries Association provides detailed insights into the sector's current state and its contributions. Regarding the sector’s future potential, Birgit Linnamäe’s PhD research offers insights into how to enter the value chains of German-speaking countries and beyond.

Key findings from the Ernst & Young report cover economic, regional, and strategic perspectives. This article discusses these in combination with the internationalization of value chains, the utilization of smart technology integration, and the role of alliances, as areas of academic research at the Estonian Business School.

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In today's interconnected world of complexities, rebuilding trust and fostering collaboration within international value chains has never been more critical. Ursula von der Leyen, speaking at the World Economic Forum, emphasized the urgency of this mission: “This is not a time for conflicts or polarization. This is the time to build trust. This is the time to drive global collaboration more than ever before.” Her call to action highlights the necessity for industries to become more open to international collaborations and to continuously seek improvements within their value chains, though mindful of recent geopolitical risks.

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Estonia's tradition in timber construction follows international efforts toward economically optimized production. This primarily involves the prefabrication of wooden panel elements up to complete modules. The manufacturers adhere to European standards and are competitively high in quality. Surprisingly, Estonian manufacturers have little presence in the German market. Only a few dare to enter this lucrative market. The hurdles of German regulations, such as building supervision regulations and necessary certifications, seem too great. 

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The landscape of cybersecurity and digitalization needs in Germany is rapidly evolving, with demands far exceeding what local market participants can currently offer. In response, Germany has established the Cyber and Information Space (CIR) as a new branch of the Bundeswehr, emphasizing the critical need for robust cyber defence mechanisms. Furthermore, German companies are encouraged to significantly increase their investments in cybersecurity, highlighting the growing importance of this sector.

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Estonian IT companies offer the digitalization skills and manufacturing firms offer quality of goods that businesses globally demand and expect across all sectors. Thanks to superior sourcing conditions in the Nordic market, Estonian production offers cost-effective and efficient frameworks for manufacturing companies in Germany, UK, US and elsewhere. Implementing a risk mitigation strategy— called de-risking purchasing—to cope with an increasingly fragmented world makes economic sense. President of the European Commission Ursula von der Leyen introduced the strategy in a speech in March 2023. Since then, both the Biden administration and the G7 have embraced the idea.

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In the 19th century, departments of economics were absent in American universities. By 1880-1890, however, every American university had established a faculty of economics, reflecting the rapid societal changes brought by the industrial revolution, the rise of the market economy, international trade, capitalist debates, social change, and labor movements.

Today, we are experiencing a similar rapid transformation due to urbanization, space constraints, and the emergence of AI. This necessitates the creation of urban spaces that are mindfully designed for the benefit of people, aligning with the new, creative life in cities.

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Estonia, the small, highly digitized ecosystem on the Baltic Sea coast, north of the three Baltic states, can make a significant contribution to mass timber construction in Europe on the international stage with its innovative approach to wood processing and component manufacturing. Consultants facilitate innovative comprehensive solutions from Estonia for engineered timber construction, enhancing standardization and flexibility in European project planning and execution.

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Enjoyment does not depend on what we do, but how we do it. The best moments in our lives are not usually associated with passivity and idleness - rather, they are born when we ourselves exert our body or mind. Every little achievement makes life more enjoyable, richer, more meaningful. It is worth practicing controlling your consciousness to control how you direct your feelings and thoughts.

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In a situation where exports decreased by 15 percent year-on-year in May, while the export of goods produced in Estonia decreased by more than a fifth, as Äripäev on 10 July writes, one of the clear challenges for Estonian companies is to open and grow new export markets and volumes. There are several ways to do this resource-efficiently and smartly.

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My interview for Tööstusuudised.ee (02.01.2023). Read more