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Estonian Review 9-15 July 2008
18.07.2008
FOREIGN NEWS
DEFENCE NEWS
DOMESTIC NEWS
ECONOMIC NEWS
FOREIGN NEWS
Paet: Fight against Pirates is an Issue of Solidarity of the European Union.
Jul 11 - Meeting with his German colleague Frank-Walter Steinmeier in Berlin, Estonian Foreign Minister Urmas Paet said that he intended to keep the issue of Somali pirates in the agenda in the European Union and NATO.
"Estonia is planning to raise the issue also in the future in the European Union and NATO framework, including at the forthcoming meeting of the EU foreign ministers," Paet said.
The Estonian foreign minister said that fight against pirates was an issue of solidarity of the European Union and a solution to that problem would have to be found together and as soon as possible.
"Hijacking of ships off the Somali coast has become a routine source of income for criminals and the fight against it requires international efforts. Unfortunately any case of hijacking in which they have success will inspire the pirates to the seizure of new ships," Paet said.
The Estonian and German foreign ministers also spoke about relations between the European Union and Russia, NATO enlargement, European Neighborhood Policy and energy security.
Paet and Steinmeier found that it was important to start talks over the EU-Russian framework agreement. The Estonian minister confirmed his wish that the framework agreement would be all-inclusive and legally binding and would provide solutions to as many issues in EU-Russian relations as possible.
Speaking about NATO enlargement, the Estonian foreign minister said that as Ukraine and Georgia had shown consistency in carrying out reforms, they should be given NATO membership action plans at the meeting of foreign ministers of the alliance this December.
Paet also thanked Germany taking over policing of the Baltic countries' air space from July.
Estonia Supports Kosovo with 10 Million Kroons
Jul 11 - Estonia apprised at Kosovo Donors' Conference in Brussels of supporting the progress of Kosovo with 10 million krooons.
Estonian Foreign Minister Urmas Paet stated that Estonian donation is directed to the built-up of the Republic of Kosovo. We are ready to train young diplomats from Kosovo's Foreign Ministry and help the country with other issues. Estonia also participates in the European Union Civil Mission in Kosovo, said Paet.
The purpose of the conference is to mobilize external assistance to support the construction of Kosovo's democratic institutions and socio-economic development. Conference is hosted by the European Commission and the World Bank Office.
According to European Commission Kosovo should receive 19 billion kroons support in the course 3-4 years. Estonia plans to support the progress of Kosovo with 10 million kroons during four years (2008 - 2011). European Union promised to support Kosovo with 7.8 billion kroons.
Kosovo declared its independence on February 17, 2008. As of today, the Republic of Kosovo has been recognized by 43 countries, including 20 European Union member states. Estonia recognized Kosovo's independence on February 21, 2008.
Estonian Government Endorsed Aims for French Presidency Period
Jul 10 - The Estonian government on Thursday endorsed Estonia's aims for the French presidency period of the EU, which began last week.
In general affairs the Lisbon Treaty and EU enlargement are still important for Estonia and drafting of the Baltic Sea strategy has been added as a new aim, the government communication office told. In the competitiveness sphere new aims are promotion of the development of small and medium sized companies and creation of the community patent. Besides, working out of measures for the provision of cross-border medical services will continue, as the commission was not able to hand over the respective bill during the Slovenian presidency period. The government said that climate and energy policy also continued as priorities for Estonia.
In the agriculture sphere Estonia's aim is to conclude assessment of the implementation of the common agricultural policy and, as a new theme, changing the scheme of more unfavourable regions. In financial issues, the government found it was still important to ensure stability of the financial sector and prevention of situations of crises, while the issue of taxes is added as a new aim. In this Estonia wants the decisions to support a simple and competitive tax system. In justice and interior issues the aim, as before, is development of a balanced immigration policy that is based on the needs of the member countries' labour markets. In foreign relations the government lays importance on the development of the European security and defence policy, strengthening of the neighbourhood policy and relations of the European Union with the United States, Russia and Western Balkans. As a new aim the government wants complementation of the European security strategy.
Delays in Implementation of Lisbon Treaty Should Not Interfere with Expansion of European Union
Jul 13 - Foreign Minister Urmas Paet stated at a meeting of the European Union nations' Ministers for European Affairs in Brest, France, that the delays in the implementation of the Lisbon Treaty should not interfere with the progress of the process of European Union expansion.
In his speech, Foreign Minister Paet stated that ambiguous messages to European Union candidates could cause disappointment in those countries and hinder their reform process. Whatever the case, we must continue our discussions with the candidate nations with the same pace as previously outlined. Similarly, we must explain more effectively the contents of the Lisbon Treaty to European communities, he said. Paet expressed hope that Croatia would be able to become a European Union member within a few years, though discussions must also continue with other candidates.
The foreign minister noted that all those countries which are halfway through the ratification process of the Lisbon Treaty affirmed that they will continue with the ratification in order to bring the necessary processes to a conclusion this year. In this context it is important that a standpoint in terms of the Lisbon Treaty can be shaped at the meeting of government leaders in October, said Paet.
The European affairs ministers also discussed maritime policy, uniform maritime spatial planning, as well as maritime environmental security. While maritime transport is the most efficient and economical mode of transportation, ship traffic significantly increases the strain on the maritime environment. The countries bordering the Baltic Sea have formed effective cooperation for the handling of accidents and pollution within the framework of HELCOM, which will be intensified even more in the future. Foreign Minister Paet also raised the issue of piracy and the issue of mariners' security on the coast of Somalia at the meeting, and he reminded that the fight against such organized crime requires the finding of a uniform solution.
At a meeting with UEFA (Union of European Football Associations) president Michel Platini, the ministers also discussed sports politics and opportunities for children and youth to get involved through sport.
Prime Minister Ansip: The Union for the Mediterranean Increases Stability in the European Union Region
Jul 13 - Prime Minister Andrus Ansip and Minister for Foreign Affairs Urmas Paet attended the meeting of the countries participating in the partnership of the European Union and the Mediterranean Sea, which took place in Paris.
At the meeting, the principles for the further strengthening of the Mediterranean partnership were approved, which will increase cooperation between the European Union and its southern neighbours. Stronger cooperation than has so far been seen is mainly visible in the implementation of regional projects.
The Union for the Mediterranean is a new form for implementing the European Union's Neighbourhood Policy. The initiative of President Sarkozy at strengthening cooperation between the European Union and the Mediterranean countries is important for Estonia as well, Prime Minister Andrus Ansip said.
Cooperation oriented towards solving practical problems will help decrease the political tensions in the region and increase stability in the vicinity of the European Union, Ansip added. For organising the work of the Union for the Mediterranean, a more active participation of the representatives of the Mediterranean partner countries on the level of both governing bodies of cooperation and everyday work organisation is foreseen. In order to implement projects, a secretariat will be established, and a working group of permanent representatives will start working in Brussels.
In order to fund the projects of the Union for the Mediterranean, both private capital and the funds of the EU Neighbourhood Policy are planned to be used.
It is important that the European Union make its contribution towards increasing security and welfare in both the South and the East, Foreign Minister Paet stated. As an example, the decreasing of differences in the standard of living can be brought about by developing agriculture. The abandoning of import restrictions in the European Union will provide us with cheaper foodstuffs and more work for the people of the southern coast of the Mediterranean Sea, as well as hope for the future, Paet said.
At the meeting, the applications of Croatia, Montenegro, Bosnia-Herzegovina and Monaco for participation in the cooperation of the Union for the Mediterranean were approved. The Ministers supported the nomination of Egypt as the Co-President of the Union for the Mediterranean; the Co-President from the European Union will be France, the holder of the Presidency of the European Union.
Latvian, Estonian, Finnish Presidents Discussed International Politics, Energy Issues
Jul 14 - Latvian President Valdis Zatlers met with his Estonian counterpart Toomas Hendrik Ilves and Finnish colleague Tarja Halonen.
The working dinner took place in the Open Air Ethnographic Museum in Riga and the presidents discussed a wide range of questions.
The presidents exchanged opinions on the recent events, including the future of the European Union political and institutional reform after rejection of the Lisbon Treaty in Ireland. The presidents also discussed energy issues as Zatlers on July 15 will open a conference on energy in Finland's city of Pori.
The heads of states discussed the role of the national identity in contemporary globalization and the role of the Latvian Song and Dance Festival in preserving and developing the identity.
After the working dinner, the presidents got acquainted with the display of the Open Air Museum and traditions of the Latvian national craftsmanship.
In the evening the presidents and their spouses attended the final concert of the Latvian Song and Dance Festival.
The Foreign Ministry Supports Belarusian European Humanities University with 450 000 Kroons
Jul 15 - The Foreign Ministry is giving 450 000 kroons to the Belarusian European Humanities University, where Belarusian students who do not have such an opportunity in their own country can study.
The Belarusian European Humanities University gives Belarusian youth an opportunity to acquire a higher education, regardless of political views. According to Foreign Minister Urmas Paet, Estonia is doing its utmost to support the civil society of Belarus. The funding of the university is a good opportunity to support Belarusian democratic movement and to give youth the experience of learning in an open society, said Paet.
The foreign ministry supports the Belarusian Humanities University through the European Humanities Trust Fund, which administers the Northern Ministers' Council. The fund was created to finance the Bulgarian Humanities University, which, due to the current political situation in Belarus, has been operating since 2004 in Vilnius. The objective of the fund is to finance the university and to ensure the efficient distribution of the resources earmarked for the university.
Foreign Minister Urmas Paet Gave a Speech to the German Council on Foreign Relations.
Jul 10 - During his visit in Germany the foreign minister gave a speech Our Europe - Tasks for Today and Tomorrow to the German Council on Foreign Relations.
Paet opened his speech by expressing his contentment about the European Council's decision to continue the Lisbon Treaty's ratification process. Estonia, along with other Member States, is interested in the development of a stronger EU that would be able to speak with one voice addressing matters of importance., Paet said.
Then Paet touched the issues that France has chosen as priorities for its term of the EU Presidency. He talked about climate change, energy and energy security. Paet stressed Estonia's position that the EU's energy policy should take into consideration and evaluate all the risks involved, including the possibility that third countries could try to make use of their energy exports to influence the European Union's policies and decisions. Therefore, it is essential that the EU should enforce common competition and environmental standards for third country companies.
The foreign minister also touched the topic of EU enlargement. The EU must maintain its policy of openness, if it desires to be an esteemed partner to United States, China or India. The EU should remain conditionally open to the Western Balkans and Turkey. Our duty is to help them remain on track with reforms. I am convinced that our common values of democracy and human rights serve as a good model to our neighbours, Paet said
Paet brought up the issues concerning EU's internal development when talking about EU's Baltic Sea Strategy. Then he spoke about the issues of demographic development in Europe. Paet focused on the problems concerning illegal immigration. Our general attitude in Estonia is that regardless of the differences between Member States concerning the details of immigration, the EU has to make an effort to reach an agreement dealing with the common principles of migration policy. Estonia is supportive of the plan to adopt a European document on immigration, which would harmonise the immigration and asylum policy of all the Member States. At the same time, Estonia does not support the introduction of automatic norms. Every Member State should, in our opinion, be dealt with on an individual basis, taking into consideration its specific conditions, history, and the unique background of its demographic situation, Paet stressed.
The foreign minister also dwelt upon the relations between EU and its neighbours and gave a brief overview of Estonia's priorities in this field. According to Paet for the European Neighbourhood Policy as a whole, it is essential that the approach to the partner countries be flexible and strictly individual, taking into account each country's unique possibilities and capabilities for making progress.
Considering the position of both Ukraine and Georgia we think that is not enough that EU tries to encourage them in the framework of ENP, therefore we firmly believe that these countries should receive their Membership Action Plans from NATO as soon as possible.
Finally Paet talked about the European defence and security matter.
Please find the full version of the speech on Foreign Ministry webpage:
http://www.vm.ee/eng/kat_140/9916.html
Estonian Citizens Can Enter Turkey Visa-Free
Jul 12 - On the basis of an agreement between the two countries Estonian citizens can stay in Turkey up to 90 days during half a year.
According to the new visa agreement also owners of Estonian and Turkish diplomatic passports can from now on stay longer respectively in Turkey and Estonian as of July 12.
Owners of Estonian diplomatic passports can stay in Turkey and owners of Turkish diplomatic passports in Estonia up to 90 days during half a year instead of earlier 30 days.
Foreign Minister Urmas Paet said the visa agreement was a sign of good Estonian-Turkish relations. "Turkey is one of the main destinations for Estonian tourists and visa-free entry for Estonian citizens will further simplify travelling to the country.
Last year nearly 30,000 Estonian citizens visited Turkey as tourists.
Estonian Prime Minister Andrus Ansip and Turkish Prime Minister Recep Tayyip Erdogan exchanged diplomatic notes on the Estonian-Turkish visa agreement on March 18 in Istanbul.
Estonia Establishes Formal Ties with Fiji
Jul 14 - Estonia's Ambassador to Britain Margus Laidre and the Fijian envoy, Pio Bosco Tikoisuva, signed in London a joint communiqué on the establishment of diplomatic relations.
The conversation following the signing ceremony focused on possibilities of cooperation between the two countries.
On the backdrop of present-day globalization there no longer exist geographically distant countries and unknown nations, there is only a narrow horizon, the Estonian ambassador said.
"Mere curiosity is not enough for widening one's horizon, it's definitely prompted also by the need for political dialogue even between seemingly distant countries," Laidre said.
Diplomatic relations between Estonia and Fiji are a solid foundation for getting to know each other better, sharing experiences and creating a mutually beneficial relationship, the ambassador added.
The Fijian government ruled in January to establish formal relations with four countries, among them Estonia.
Fiji, an island state in the southern part of the Pacific between Vanuatu, Tonga and Tuvalu, comprises 322 islands of which 106 are populated.
At the end of 2004 the country had a population of 840,000 of whom slightly more than half were descendants of Polynesians and Melanesians and roughly 40 percent of Indian origin.
Estonia now has diplomatic relations with 170 countries of the world.
The President of the Republic Appointed the Estonian Ambassador to Georgia and Armenia
Jul 14 - President Toomas Hendrik Ilves signed a resolution appointing Toomas Lukk Estonian Ambassador Extraordinary and Plenipotentiary to the Republic of Armenia and Georgia residing in Tbilisi.
Accordingly, the President of the Republic recalled Andres Unga from the position of Estonian Ambassador Extraordinary and Plenipotentiary to the Republic of Armenia and Jaan Hein from the position of Estonian Ambassador Extraordinary and Plenipotentiary to Georgia.
Outgoing Swedish Ambassador Awarded High Estonian Honour
Jul 14 - Estonian President Toomas Hendrik Ilves has decorated the outgoing Swedish ambassador, Dag Hartelius, with the Order of the Cross of Terra Mariana, Class 1.
The president honoured the ambassador for his services to the Estonian state. Hartelius presented his credentials to then President Arnold Rüütel on August 21, 2003. Estonians remember the ambassador for his good command of the Estonian language and participation in the highly popular TV show Strictly Come Dancing (Dancing with the Stars in the US).
At the end of May the Swedish government appointed Jan Palmstierna new envoy to Estonia. He will take office in the fall.
Palmstierna at present serves as chief coordinator for trade and investment at the Foreign Ministry. He has earlier worked at Swedish embassies in Lithuania, Germany, Denmark and Chile, at the Foreign Ministry's trade department, the parliamentary foreign affairs committee, and the ministry's East European department.
DEFENCE NEWS
Head of Estonian Contingent in Iraq to be Replaced
Jul 12 - Capt. Toomas Väli will take up the post of head of the Estonian contingent in Iraq. Väli has served in the same post four years ago.
Väli, will replace Maj. Jaanus Antson, who has served for six months as head of the Estonian contingent in Iraq.
President Toomas Hendrik Ilves promoted Capt. Toomas Väli to the rank of major temporarily, for the period of his service abroad.
Capt. Väli served as head of the Estonian contingent in Iraq also from August 2004 to January 2005.
There is currently a 34-strong Estonian light infantry group, ESTPLA-17, serving in Iraq.
Estonian Apron Service Team in Afghanistan Rotates
Jul 12 - A new Estonian apron service team will enter into service at the Kabul International Airport in Afghanistan.
The team of three non-commissioned officers will replace the team that served on the airport since March.
The tenth apron service team flew to Afghanistan already on July 2 in order to get acquainted with their service.
"The Air Force has been given the duty of preparing an airfield corresponding to the capabilities of the receiving country," chief of staff of the air base, Maj. Toomas Susi, said. "We also need professional apron service teams on that airfield." Susi added that service at the Kabul International Airport would provide the opportunity of practical training together with partner countries.
The main duty of the Kabul Airport team is to park aircraft, to ensure ground services and to escort aircraft in the air traffic zone. The team's field operation is preceded by a two-week training at the air base and a two-week practical session at Kabul Airfield.
Estonian soldiers have taken part in the apron service team of the Kabul International Airport since the beginning of 2005.
Defence Forces Commander Visited Soldiers Recovering in Great Britain
Jul 11 - Lt. Gen. Ants Laaneots visited the three soldiers seriously injured in Afghanistan and currently treated in Great Britain and thanked them for their selfless service.
Laaneots told the wounded soldiers that the defence forces would give up no soldier wounded in hostilities as lost and thanked them for service at guarding Estonia's security interests in the composition of NATO forces. He also handed over valuable presents for selfless service to them.
The defence forces commander explained to the soldiers what social guarantees would be given to them under amendment to the defence forces service act, which the government has already approved and which are now waiting for an endorsement by the parliament. Lt. Gen. Laaneots discussed with the recovering soldiers also their future plans and offered them the opportunity of continuing service in the defence forces.
Estonia, which is taking part in military operations in Southern Afghanistan, has signed a memorandum of mutual understanding with Great Britain according to which Great Britain will ensure treatment of the wounded and the transport of casualties.
Peeter Lans Appointed Estonian Defence Attaché in Finland, Sweden
Jul 10 - Peeter Lans will become the new Estonian defence attaché in Finland and Sweden.
Lt. Col. Lans will start his service as defence attaché in August. The present defence attaché to Finland and Sweden, Anto Kergand will continue his service in the defence forces.
President Toomas Hendrik gave to Lans the temporary rank of lieutenant colonel for the period of his service abroad.
Lt. Col. Lans, 48, is a graduate of the Tallinn Maritime School, of the senior staff officers' course at Baltic Defence College and of Audentes University; besides, he has passed several upgrading courses in foreign countries.
Since the restoration of the Estonian defence forces he has served in different posts in the Kalev Independent Infantry Battalion and the Independent Guard Battalion, as liaison officer at Supreme Headquarters Allied Powers Europe, as head of the international cooperation department at the defence ministry, as defence attaché in Belgium and simultaneously as Estonia's military representative at NATO and as lecturer at the Baltic Defence College.
His last post of services was chief of staff at the Baltic Defence College.
DOMESTIC NEWS
Support to EU Enlargement in Estonia Higher than the European Union Average
Jul 10 - Nearly two thirds of Estonian citizens are in favour of further enlargement of the European Union, a Eurobarometer poll carried out by TNS Emor revealed.
According to the poll carried out in the spring 63 percent of the citizens supported enlargement of the union, 8 percentage points more than in the fall. In the European Union on the average it was only supported by 47 percent.
There have been three peaks in the citizens' support to enlargement of the community since Estonia acceded to it in 2004. One of them was immediately after the accession, in fall 2004 and the second in fall 2006.
Three in Four Estonians Satisfied with Their Lives
Jul 10 - Over three fourths, 76 percent of Estonians, are satisfied with their lives, and 11 percent are very much satisfied, it appears from a Eurobarometer poll carried out by the TNS Emor pollster this spring.
The opinion of Estonians is similar to the EU average where 77 percent of those interviewed were satisfied with their lives.
Naturally citizens of countries of high economic welfare -- Denmark, the Netherlands, Luxembourg, Sweden and Finland -- are the most satisfied with their lives. In Finland, for example, 94 percent of those interviewed found so.
At the other end of the scale were Hungary and Bulgaria where respectively 48 and 40 percent of their people were satisfied with their lives.
In countries that acceded to the EU in 2004 71 percent and in all the 12 new member countries 65 percent were satisfied with their lives. In Latvia the percentage was 65 and in Lithuania 63 percent.
The relatively high satisfaction of Estonians has persisted over several years. In fall 2004 70 percent, in fall 2006 79 percent and last fall 78 percent of people were satisfied with their lives. As a result the fall against last year was two percentage points.
Satisfaction has fallen also in the EU as a whole. Last fall 80 percent of those interviewed were satisfied with their lives in the EU, and three percentage points fewer this year. The fall compared with the fall was similar also in Latvia and Lithuania.
The TNS Emor poll was based on interviews with 1006 citizens of Estonia and of other European Union member countries residing in Estonia.
ECONOMIC NEWS
Currency Rates in Kroons
(Bank of Estonia)
Estonia's GDP Grew by 1.4 Percent in Q1
Jul 12 - According to the recent Eurostat information the Estonian gross domestic product (GDP) grew by 1.4 percent against the same period last year.
According to Eurostat the EU economy grew by 2.3 percent in Q1 against the same period last year. Countries with lower economic growth than Estonia were Ireland (-1.5 percent), Denmark (-0.6 percent), Italy (0.3 percent), Hungary (0.8 percent) and Portugal (0.9 percent).
KC Grupp Earned Profit of EUR 16.2 Million in 2007
Jul 14 - The Estonian investment company KC Group, which belongs to businessman Margus Reinsalu, earned a net profit of 254 million kroons last year according to consolidated and audited figures.
Reinsalu's company, which mainly focuses on developing real estate projects outside Estonia, posted a turnover of 149.8 million kroons last year. The sum total of assets of the company totalled 764.5 million kroons as of the end of 2007.
KC Group's biggest project is currently a complex of business and production buildings on a territory of 68 hectares next to Muuga Port. The making of site plans, which define the terms of land use, erection of buildings, access roads, parking areas and technical networks, began this April. KC Group's main spheres of activity are real estate development, administration and investment. In 2006 KV Group posted consolidated turnover of 315.9 million and a profit of 252.5 million kroons.
Krediidipank Earned Profit of EUR 2.6 Million in H1 2008
Jul 14 - Eesti Krediidipank, one of the smallest banks in Estonia, earned nearly 40 million kroons of net profit in January-June 2008. Krediidipank's total assets as of June 30 stood at 4.93 billion kroons and the equity at 353.4 million kroons.
Clients' deposits in the bank amounted to 3.24 million kroons as of the end of H1; of this 1.3 billion kroons were time deposits and 1.94 billion kroons demand deposits.
The sum total of private persons' deposits grew by 150 million kroons to 1.37 billion kroons during January-June. The loan portfolio of Krediidipank stood at 2.63 billion kroons as of the end of June, up 12 percent during the six months.
As of the end of June more than 80,000 clients were using Krediipank's products and services, over 10 percent more than at the beginning of the year. By the end of the half year 20.938 clients had signed Internet banking contracts with the bank and 14,184 clients used its bankcards.
A. Le Coq Grows Turnover by One Fifth to EUR 76.7 Million in 2007
Jul 11 - The turnover of the Estonian beverages maker A. Le Coq grew by 20.2 percent to 1.2 billion kroons in 2007 against the previous year, the net profit on the company went up by 15.2 percent to 168.1 million kroons on year.
A. Le Coq's operating profit last year totalled 170 million kroons, 15.3 percent more than the year before, it appears from the company's financial year report for 2007.
Of the 2007 turnover of the company, sale on the Estonian, Latvian and Lithuanian markets was respectively one billion, 83.5 million and 55.7 million kroons.
Profit of Põltsamaa Felix Grows 27 Percent on Year
Jul 11 - The Estonian food industry company AS Põltsamaa Felix last year earned 7.4 million kroons net profit, nearly 27 percent more than the year before.
Last year's sales proceeds totalled 284.4 million kroons up by nearly 52 percent on year, it appears from the company's financial year report.
Last year, Põltsamaa Felix earned 188.3 million kroons of the sales proceeds from the Estonian and 78.2 million kroons from the Finnish market.
The company invested a total of 35.2 million kroons last year.
On the average the company has 209 employees, and the expenses on their wages and salaries amounted to 25.9 million kroons. The remuneration to members of the board was 90,0000 kroons.
AS Põltsamaa Felix belongs to the Nordic countries' biggest food industry group Orkla.
Euromoney Awards GILD Bankers as the Best M&A House in Estonia
Jul 11 - Prominent international finance magazine Euromoney recognized the leading independent Baltic investment bank GILD Bankers as the Best M&A House in Estonia in the Euromoney Awards for Excellence 2008.
Total of 600 leading banks and other financial institutions from all over the world participated in the selection process this year.
Euromoney acknowledged GILD Bankers for an impressive track record of innovative and market leading transactions in the assessed period across a number of industries in Estonia. In 2007 GILD Bankers completed several landmark transactions in online media, arranging for example the sale of popular web portals http://www.auto24.ee/ and http://www.cvkeskus.ee/.
New Cruise Ferry Delivered to Tallink
Jul 10 - Tallink Fast Ltd., a subsidiary of the Estonian shipper Tallink Grupp, took delivery of the new cruise ferry Baltic Princess from the Aker Yards shipyard in Helsinki.
The 212 meters long Baltic Princess has a beam of 29 meters and can take on board 2,800 passengers and 1,130 lane meters of vehicles. The ferry has 927 cabins, 12 restaurants and bars, three shops and a conference centre seating more than 450 people.
The ship can develop a speed of up to 24 knots, Tallink said in the notice to the stock exchange.
The project of around 165 million euros was financed with a 132 million Euro loan from the syndicate of HSH Nordbank, Nordea Pank, SEB Pank and European Investment Bank.
The Baltic Princess will enter service between Tallinn and Helsinki on July 15, replacing Tallink's 2006-built cruise ferry Galaxy that will be transferred to the Turku-Stockholm line. M/S Silja Festival currently plying between Turku and Stockholm will in turn be put into service on the Riga-Stockholm route where it will replace the Vana Tallinn.
The delivery of the Baltic Princess thus means upgrades and new vessels for three routes altogether, Tallink observed.
The Baltic Princess is the sixth new ship built for Tallink Grupp in the last six years. The shipper has one more cruise ferry under construction which Aker Yards will deliver next year.
Nearly 90,000 People Travelled on Gorail Trains in H1 2008
Jul 14 - In the first half of this year 88,847 passengers, 2,850 more than in the same period in 2007, travelled on trains of Estonia's Gorail, an operator of international passenger traffic.
On the Tallinn-Moscow route there were 66,669 passengers and 22,178 passengers on the Tallinn-St. Petersburg route, the company said. The number of passengers on the Tallinn-Moscow route was 67,990 in the same period last year. The company launched traffic on the Tallinn-St Petersburg route from March 31, 2007 and carried a total of 26,003 passengers on the route during the year.
This year, Gorail forecasts the number of passengers on the Tallinn-Moscow and Tallinn-St. Petersburg trains at above 200,000. Gorail belongs to the Go Gropup of tourism and transport companies.
Dairy Products' Export up by One Fourth on Year in Q1
Jul 14 - It appears from an overview of the Estonian dairy market by the Estonian Institute of Economic Research that in Q1 this year the export turnover of Estonian dairy products increased by 24.4 percent against the same period last year.
The export of dairy products amounted to 492.8 million kroons, 96.5 million kroons more than in the same period last year.
Of the export 83.5 percent was to member countries of the European Union and 16.5 percent to outside the EU.
H1 Turnover of Viru Centre up by 5.6 Percent on Year
Jul 15 - The sales proceeds of Viru Keskus (Viru Centre), one of the biggest shopping centres in Estonia, was 1.01 billion kroons in H1, 5.6 percent more than in the sane period last year.
The centre had nearly 5.5 million visitors during the first six months of the year and they made more than five million purchases.
Viru Centre board member Ants Vasar said that the 5.6-percent growth in turnover was a good result in the difficult economic situation.
For this year Viru Centre is planning annual turnover of 2.3 billion kroons.
Viru Centre has more than 100 shops, catering and service establishments, and draws an average of 31,000 daily visitors.
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