Dear Members:
For the American Chamber of Commerce in Estonia, the new year 2022 marks our 25th anniversary. In addition, it is the 100th anniversary of American-Estonian diplomatic relations. Thus, it is wonderful to celebrate this year with several special events for our members.
For businesses, the new year 2022 is full of possibilities, challenges and opportunities. The possibility of ‘force majeure’ needs to be written into most of our plans now… The challenge of raising bench marks by the Fed Reserve, meant for slowing the rising inflation, would also impact the dollar-euro exchange rates. Whereas the omicron spread is slowing the economic growth in the U.S. and Estonia, the overall business climate has, except of some industries, been remarkably resilient and creates its own opportunities. Still, there is little we could really to do to influence world events but to adapt and be cleverly flexible.
And again, I cannot emphasize or encourage enough the importance for Estonian companies to do business in the US, and visa versa, for American companies to cooperate with Estonian partners. Simply look at the IT sector – it continues to make wonders!
Wishing you a most successful 2022,
Dr. Indrek Laul President