1/2010 newsfl ashes

on legalities

Jaan Männik Chairman of the Board,

Photo: Lea Tammik Eesti Pank – ’s Central Bank 3

hard and paying taxes, that Right in the midst of the business he has to support bailing out Greece including the 65 years old Zorba who has enjoyed ABBABB AS ACG 3STEPIT NYSTRÖM ACG EESTI NYSTRÖM AD VISIBLE EESTI ADVOKAADIBÜROO GLIMSTEDT GLIMSTEDT STRAUS STRAUS & & life as pensioner since ten years back and likes to have PARTNERSPARTNERS ADVOKAADIBÜROO ADVOKAADIBÜROO LEPIK LEPIK & LUHAÄÄR& LUHAÄÄR LAWIN LAWIN ADVOKAADIBÜROO ADVOKAADIBÜROO LUIGA MODY LUIGA his Metaxa while dreaming MODY HÄÄL BORENIUS ADVOKAADIBÜROO VARUL VILGERTS SMALIUKAS AS of Aphrodite. It would simply HÄÄL BORENIUS ADVOKAADIBÜROO PAUL VARUL ADVOKAADIBÜROO POHLA & HALLMÄGI be political suicide for Ms ADVOKAADIBÜROO ADVOKAADIBÜROO SORAINEN POHLA LAW & HALLMÄGI OFFICES ALD ADVOKAADIBÜROO AUTOMOTIVE ALLANDO SORAINEN TRAILWAYS LAW Dear reader, Merkel!

OFFICESALSTOM ADVOKAADIBÜROO ESTONIA ALTENBERG VIRRI&GÄRDE&HÖIJER REVAL AQ LASERTOOL ALSTOM ASIANAJOTOIMISTO ESTONIA ALTENBERG HEDMAN Super-Euro! Therefore the only reason- OSBORNE CLARKE ASSABALT ASTLANDA HOTELLI CARGO BANCTEC BARONS able way, in case PIIGS do REVAL ANTHILL CUSTOMER SERVICE ESTONIA AQ LASERTOOL BANCTEC Soon Estonia will join the Eurozone. I think this is quite not manage, is to kick them HOLDINGBERCO BERCOBESQAB OÜ PROJEKT BESQAB PROJEKTJA KINNISVARA JA KINNISVARA BLADHS BLADHS EESTI EESTI BLUE AS DRUM BOOMERANG BNT clear at this stage. In 2009 Estonia’s currency and deficit out and instead get a Super- SUBCONTRACTING CIPAX EESTI CITY AIRLINE DHL ESTONIA DPD EESTI looked risky and the euro looked like a safe port. This year Euro to which , LEGAL&TAX CHRISTIANSEN CONSULTING CITY AIRLINE DELOITTE DHL ESTONIA Estonia looks much more stable but the problem is that the , Belgium and E-BETOONELEMENT EESTI AGA ELECTROLUX EESTI ERICSSON EESTI ESTNATURE Eurozone looks like the port of Port au Prince before the the Nordic countries should belong. Such a currency zone DPD EESTI EESTI AGA ELECTROLUX EESTI EMBASSY OF ERICSSON earthquake. would consist of countries with the same approach to work ESTONIAN AIR ESTONIAN GOLF &COUNTRY CLUB EVATA BALTIC EXCEDEA FARM PLANT ethics and work length. The Baltic’s are maybe not there EESTI ESTNATURE OÜ ESTONIAN GOLF &COUNTRY CLUB ETAL GROUP EXCEDEA EESTI ADVOKAADIBÜROO VIRRI&GÄRDE&NORDLIN FORS MW GOODYEAR DUNLOP TIRES What should we do then? yet, but they are on a good track. FALKONET METALL FARM PLANT EESTI FUSION VARAHALDUSE GENCS VALTERS BALTIC HANSAPANK CSA PARTNERS HK INDUSTRIAL HUMAN SEARCH HUSQVARNA IF My answer is simple, we have to adopt the euro January 1st, LAWEESTI FIRM KINDLUSTUS GOODYEAR IMPLEMENT DUNLOP BALTICTIRES BALTICINBRO &HUMAN PARTNERS SEARCH KINDLUSTUSMAAKLER HUSQVARNA IF 2011 but Estonia should immediately take the initiative to USA and our security strengthen the Eurozone once we are in. INCAPEESTI ELECTRONICS KINDLUSTUS ESTONIA AS INTEREXPRESS INTEREXPRESS JUSJUS SUECANUM SUECANUM KG KIDDE KNUTSSON EESTI ASKNT The US is now battling with their financial problems and they are of course of another magnitude than the problems KINDLUSTUSESTMEEDIAD LEGEND KINDLUSTUSMAAKLER MANAGEMENT KNTLINDORFF MEEDIAD EESTI AS LEINONEN LUNA EESTI OÜ MAQS AS Until then, let’s be in Europe if we count in absolute figures. This can only lead MANDATORLAW FIRM ESTONIA MCM MAQS - MARKET LAW COMMUNICATIONFIRM FUSION VARAHALDUS MANAGEMENT MCM - happy for the weaker to one long-term conclusion: The US will become more iso- euro which helps lationistic. MARKETMEDIA MENU COMMUNICATIONINTERNATIONAL MERITONMANAGEMENT HOTELS MEDIA MPS EESTI MENU Estonian export in INTERNATIONAL MEKANEX MASKIN MERITON HOTELS markets like Sweden, The days of US acting world police are over and it is not the MÖLNLYCKE HEALTH CARE NETLEAD NORDEA BANK , , Russians or Chinese who will stop it. It’s going to be the MÖLNLYCKE HEALTH CARE MORE REKLAAMIBÜROO MPS EESTI USA, UK and . Americans themselves. The American people will not agree NORDIC LINT ORIFLAME EESTI OUTOKUMPU BALTIC PEDERSEN NEAR-SHORING NORDEA BANK PLC EESTI FILIAAL Actually the Kroon to spend billions of dollars and the lives of their sons and & PARTNERS PERNOD RICARD EESTI POSTEN LOGISTIC SCM OY EESTI FILIAAL is now slowly being daughters for some strange cause in Iraq or Afghanistan. NORDIC LINT OÜ NORDKALK AS ORIFLAME EESTI OÜ OUTOKUMPU devaluated as it is The reason they haven’t stopped yet is that they are still too PRIMUS EESTI PROEKSPERT PROPARTS PÕHJAMAADE MINISTRITE NÕUKOGU pegged to the euro proud, but reality will catch up with them. This means that BALTIC OÜ PÕHJAMAADE MINISTRITE NÕUKOGU PÕLTSAMAA FELIX PRIMUS EESTI OÜ and the Eurozone is regional powers will PÕLTSAMAAPROEKSPERT FELIX AS PROPARTS PÖYRY RADISSONOÜ RAGN-SELLS HOTEL RAPLA RAGN-SELLS PLAST REVAL RAPLA HOTEL MANAGEMENTPLAST REGUS suffering because of play a bigger role and the PIIGS (Portugal, this will have conse- REVALRIMI EESTI HOTELS RMCONSULTING RIMI EESTI AB RMCONSULTING& PARTNERS RÖDL AB & &PARTNER PARTNERS SANDHOLM RÖDL ASSOCIATES& PARTNER Ireland, Italy, Greece quences for Europe SAPASANDHOLM PROFIILID ASSOCIATES SAS SCANDINAVIAN SAPA PROFIILID AIRLINES AS SYSTEM SAS SCANDINAVIANSCANDITRON SCANIA AIRLINES EESTI and Spain). and especially for the Baltic States. SYSTEMSCHENKER SCANDIC SCHLÖSSLE HOTELS HOTEL SCANIA GROUP EESTI SEB SEGERSTRÖM SCHENKER AUTOMOTIVE SCHLÖSSLE SIEVERT HOTEL SIROWA GROUP Estonia has shown the way again just as it did in the early 1990’s; Estonia became a liberal economy with low flat The Baltic States and SIEVERTGENCS VALTERS SIROWA LAW SSAB FIRM SWEDISH SLG THOMAS STEEL INTERNATIONAL EESTI STENSTRÖMS EESTI SÖDRA SKJORTFABRIK EESTI SSAB taxes. During this crisis Estonia has shown that the only the Scandinavian SWEDISH STEEL EESTI STENSTRÖMS SKJORTFABRIK EESTI STONERIDGE ELECTRONICS way out of it is to cut costs. Private persons have to do it, countries should pay EESTI STONERIDGE ELECTRONICS SUNNY BUSINESS SVEAFASTIGHETER SWECON companies have to do it and of course also countries must more attention to de- STORA ENSO METS STRAND STRØMNES & STRØMNES LAW OFFICE SVEAFASTIGHETER SWEDBANK SWEDISH TRADE COUNCIL IN ESTONIA SVENSKA HANDELSBANKEN do it when they have been living over their assets for years. fense issues. Tomor- SVEBA-DAHLEN SVENSKA HANDELSBANKEN AB EESTI FILIAAL SWECON SWEDBANK To borrow money and get crazy state budget deficits and row big brother USA AB EESTI SÖDRA EESTI TALLINK HANZA TARKON TEDER GLIKMAN JA PARTNERID huge state debts, can create severe problems for the finan- will not be around SWEDISH EMBASSY SWEDISH TOOL SWEDISH TRADE COUNCIL SAVANT ESTONIA TALLINK cial system globally. Iceland is one of the risk countries, but with his rifle and then TELEGRAAF HOTEL TELIA SONERA TIETO EESTI WAHLQUIST VALLIN BALTICS TARKON TEDER GLIKMAN JA PARTNERID TELIA SONERA AB TIETOENATOR EESTI UNITED so are also the PIIGS. the Bear will come knocking on the door VARAMIESPALVELUMOTORS ARCO VARA VARAMIESPALVELU VEINIPOOD WENDRE PERNOD WIGEN RICARD SINDI VÄVARS VIIMSI VIKING MÕIS KINNISVARA VIKING The deal with the PIIGS must be clear: Cut your costs heav- again. Bears tend to KINNISVARA VIKING MOTORS WINDAK VOGLERS EESTI VOLVO ESTONIA VÄVARS ily or be thrown out of the Eurozone. Personally I think it be hungry when they VIKING MOTORS VOGLERS EESTI VOLVO ESTONIA WAHLQUIST WENDRE WIGEN SINDI will be difficult for the politicians in PIIGS to do the savings feel that spring is in WINDAK SUOMEN LOGISTIIKKATALO needed. It is possible in Northern Europe but not in the the air, don’t they? south due to regulations, traditions and mindsets. Enjoy reading nr 1, 2010! As it is now, Zorba the Greek becomes a pensioner aged 55 The Swedish Chamber of Commerce in Estonia while Fritz the German has to wait until he turns 67. How Anders Hedman can Ms Merkel explain to the 65 years old Fritz, still working Chairman SCCE 5

The Swedish Chamber Meet SCCE’s Council 2010 of Commerce in Estonia

Publisher e Swedish Chamber of Commerce in Estonia – is published by the Swedish Chamber of Commerce in Estonia - SCCE - is a non-pro t association registered in SCCE. Estonia. Since its foundation 1991 the SCCE has grown considerably and today the Chamber unite 120 Address: member companies and organizations headquartered in The Swedish Chamber of Commerce Estonia, Sweden as well as other countries. in Estonia SCCE is in many ways a mirror of the intensity in Swedish-Estonian Rüütli 9, EE-10130 , Estonia commerce, trade and investments. Sweden is the biggest foreign direct investor in Estonia and in terms of export and import Swedish- E-mail: Estonian business is intense. [email protected] A main task of SCCE is to create an environment for networking Tel: (+372) 501 9813 and exchange of information. The Chamber act as a meeting place by arranging seminars, business lunches, company visits, hosting Editorial content and articles business delegations as well as arranging social events for the SCCE accepts editorial content and members. articles for the magazine promoting Estonian – Swedish Following a SCCE initiative, FICE - Foreign Investors’ Council in commerce, trade and investments. Estonia was founded in August 2008. FICE is a lobby group acting The author of editorial texts and through contacts with the Estonian Government and Estonia’s articles published is responsible for Governmental bodies. Together, the eight countries represented in the content. FICE account for more than 80% of the foreign direct investments in Estonia. SCCE welcomes contributions to the magazine and reserves the Special and unique SCCE member benefi ts include listing in right to refuse publishing of content the SCCE Trade Directory, an opportunity to a further market not being in line with the Statutes of introduction in the Member in HighLight section of the Chamber’s SCCE. website as well as taking advantage of a steady fl ow of Special Offers. SCCE’s Council 2010 (left to right): Advertising The 2010 fee for basic membership in the Swedish Chamber of Christer Östholm – RIMI Eesti Food, Janar Sutt – Swedish Trade Council, Anders Hedman – Sirowa, Karolina Ullman – The advertising pricelist is Commerce in Estonia is EEK 5.900:- per year and EEK 20.000:- per MAQS Law Firm, Fredrik Thern – SEB, Per Lindberg – Stoneridge Electronics, Reidi Strandberg – Rödl & Partner. available at www.swedishchamber.ee. year for Royal Membership. Membership is only granted to legal entities. Portraits: Anders Näslund – Boomerang Subcontracting, Katrin Luhaäär – Scandinavian Airlines, Rein Leipalu – Ragnsells. Subscriptions and additional copies For more information about SCCE, please visit The magazine is distributed www.swedishchamber.ee. You are also welcome to take a direct SCCE’s General Assembly 2010 enjoyed a cozy free of charge to the members contact with SCCE’s Ombudsman Kristiina Sikk: kristiina@ Estonian countryside atmosphere as the proceedings of the Swedish Chamber of swedishchamber.ee or tel. (+372) 501 9813. went on at restaurant Kuldse Notsu Kõrts in Tallinn, Commerce in Estonia as well as February 11th. Swedish Chambers of Commerce in In this issue: Sweden, , and Kristiina Sikk and Reidi Strandberg several other countries around the p. 3 Editorial presented SCCE’s Annual Report world. p. 5 Meet SCCE’s Council 2010 2009 as well as the budget and event Companies not yet being members p. 6 New procedures for fi ling annual calendar 2010. The Assembly could look of the SCCE as well as private back at a successful year for SCCE. individuals can subscribe to . reports Though the fi nancial crisis had taken its p. 7 Legalities toll among the members, 15 companies SCCE also provides additional were welcomed as new members in copies of for SCCE member’s p. 9 met: Jaan Männik, Chairman of the SCCE last year. own distribution of the magazine to Board, Eesti Pank – Estonia’s Central Bank customers and business contacts As the Assembly elected SCCE’s Council 2010, Christer This year new members have already started to join up with to a net printrun cost. p. 13 on the Economy Östholm, RIMI Eesti Food, Fredrik Thern, SEB and Janar Sutt, SCCE and three of the Chamber’s old p. 1 7 on tour Please contact SCCE’s Ombudsman Swedish Trade Council members have chosen to become Royal Kristiina Sikk for further information: p. 23 The fi rst 92 years were welcomed as new Members. [email protected] p. 27 La Cave members of the Council and Gustaf Hertsius and Final planning for SCCE’s upcoming ...... p. 28 Dinner for six Conny Storm were elected activities during the second, third and p. 30 Newsfl ashes as SCCE’s Auditors 2010. fourth quarters 2010 are now ongoing and Printed in the EU by KNT Meediad p. 35 ps. Tiina Reijonen, Kristoffer information on these will be e-mailed to OÜ, Tallinn, Estonia. Lindberg and Henrik our members and will also be published Avasalu left the Council at www.swedishchamber.ee. All rights reserved. The Swedish Chamber of Commerce in Estonia and the Assembly thanked Rüütli 9, EE-101 30 Tallinn, Estonia them for their valuable Report: Kristiina Sikk – SCCE Ombudsman www.swedishchamber.ee, [email protected] contributions to the SCCE. Photo: Lea Tammik Tel.: (+372) 501 9813 6 7 New procedures for filing annual reports on legalities

• As of January 1st, 2010, companies, non-profit associations and foundations shall file their an- nual reports electronically, says Reidi Strandberg, Associate Partner and Head of Business Proc- ess Outsourcing at Rödl & Partner Baltics. Transfer of business does not terminate the employment relations Web portal code and the report can be entered in the prescribed forms. by Kaido Künnapas, associate MAQS Law Firm Then, the finished report is printed out, signed by the man- • A web based IT-portal agement board members, scanned and submitted to the has been created for the registry. report filers and auditors, where they can create the annual report, sign it, add an auditor’s report and send it to the reg- Format istry. The reporting portal is located at the web address of The new Estonian Employment versity to terminate the the Centre of Registers and Information Systems; • A new solution for electronic filing of annual reports has Contract’s Act (ECA, Est: Töölepin- employment agreements https://ettevotjaportaal.rik.ee. been developed, and involves entering the report data and guseadus) was born in the middle in the copy centre just information on previously prepared forms in XBRL-format. of a world-wide economic crisis because the copy centre The portal is available in English, but the final report is dis- The reporting forms are universal and those accounting en- and bankruptcies. Unfortunately it itself has been rented played in Estonian. tities which prepare their annual report in accordance with has failed to protect some aspects out. The renting compa- Estonian generally accepted accounting principles and are of the employees’ rights in case of ny will get the employees If none of the management board members have an Esto- liable to prepare an unconsolidated annual report, must file transfer of business. as part of the package. nian personal identification code, the person entering the it in the XBRL-format. Other accounting entities file their data cannot be prescribed in the portal. In this case the annual reports electronically in the reporting portal in PDF Similarly to the earlier ECA, the Contract termination easiest solution is for the accountant to enter the portal format. new one is driven by the idea that can be forbidden even and choose [Submitting the annual report] from the menu a transfer of business cannot be if the business or busi- and [Add report]. The company can be found by the registry Who should file and sign the annual report the sole ground for termination of ness unit has been transferred on the grounds of an employment. This follows from EU Kaido Künnapas authorization agreement. In 2004, a company called The annual report, and documents filed with it, should be law and the regulations are more or Kötter started to carry out the security checks on pas- prepared and filed at the web portal by an authorized repre- less the same all over the European Union. sengers and their luggage in an airport under a contract sentative of the entity; a member of the management board, concluded with the German State. All the security equip- general partner, limited partner with right of representa- The new owner of a business should fulfil the obligations ment (e.g. walk-through metal detectors, a baggage tion, liquidator, trustee in bankruptcy or branch manager of the employment contracts with no substantial distinc- conveyor belt with automatic X-ray screening, hand-held entered into the registry of accounting entities. tions, but only if the new owner continues to carry on metal detectors and explosives detectors) was trans- the same or at least similar economic activities. The EU ferred to Kötter from the previous contractor Securicor, • The representative can however authorize another person Court of Justice’ case law gives “transfer of business” a whose authorization agreement with German State was to prepare and file the annual report and the authorization terminated. As surprising as it may seem, this unit can can also be made via internet or through a notary. very wide meaning. For example, an economic unit with- out any clear organizational structure and significant be seen as a business unit in the meaning of the law • All representatives should sign the annual report digitally material or immaterial property providing labour force meaning that the new operator of the security equipment at the web portal. If that is not possible, the representatives rental service can be seen as a integral “business unit“ became the employer of the security staff working with sign the annual report documents prepared on paper and that can be transferred. With it then follows the employ- the equipment. add it to the web portal in PDF format. ees and their employment contracts, whether or not this was the wish of the seller and purchaser of the business Joint and several liabilities of the transferor and the Time limit unit in question. transferee

• The management board is liable to Transfer of ownership or possession of the business? It is remarkable that the new ECA (differently from the file the confirmed annual report with Does not matter profit distribution or loss covering proposal, sales revenue and auditor’s The legal grounds for transfer- report to the Commercial Registry ring a business should have within six months after the end of the no effect on the employment financial year. relations. For example, if a Uni- versity rents out its copy centre Text: to a private entrepreneur then Reidi Strandberg - Associate Partner and the existing work relations in Head of Business Process Outsourcing, the copy centre must continue. Photo: Hans Bjurling Rödl & Partner Baltics There is no right for the Uni- 9

SWEDISH CHAMBE R earlier one) offers the employees the same protec- OF COMMERCE IN LATVIA tion as it provides to other creditors – up to fi ve years. This protection only concerns the obligations that has fallen due before the transfer or will fall due within fi ve years from the transfer. An employee can choose against which employer to fi le a claim – the new or the Here we are. old one. It is crucial to notice that the purchaser of the business is liable for all the claims arisen from the What’s next? transferred contracts unless agreed otherwise. A Nordic - Baltic conference on the economic Unclear distinctions caused by insolvency proceed- environment arranged by the Swedish ings Chambers of Commerce in Estonia and Latvia The situation is much more problematic if the busi- th ness is transferred in the course of bankruptcy pro- Friday, May 7 2010, 10.30–18.00 ceedings. According to the ECA, the provisions of Scandic Rannahotell, Pärnu transfer of employment contracts do not apply when Jaan Männik the employer has been declared insolvent in bankrupt- cy proceedings. The problem arises from the fact that – 10.30 Buffet breakfast at Scandic Rannahotell the Estonian Obligations Act (Est: Võlaõigusseadus) 10.30 • Opening and welcome addresses contains a regulation for transfer of employment con- The Chairmen of the Swedish Chambers of Commerce in Estonia and Latvia tracts and the ECA does not exclude these provisions. The key issue is which regulation should be applied • Introduction to the conference Mikael Orkomies, Partner at Excedea and our conference in case the business is transferred in the process of bankruptcy proceedings. moderator Jaan Männik, Chairman of the Board, Eesti Pank 11.00 Here we are. What’s next? A Nordic - Baltic Outlook Daniel Bergvall, Economist, SEB Economic Research, If the contracts can be terminated, then it would be Jaan Männik contrary to the EU directive, according to which it is • As I took up the position as Chairman of Government was es- tablished here Febru- 12.00 Lunch possible to terminate employment contracts only if the Eesti Pank in the middle of 2008, it is quite ary 24th, 1918. • My mother was pregnant with me purpose of the insolvency proceedings is liquidation. 13.00 Business in the Baltics obvious that I also walked right into the as my parents fl ed from Estonia Veiko Sepp, President, Ericsson Eesti AS Estonian bankruptcy proceedings do not always have September 27th, 1944. Two fi sh- the purpose of liquidation in case the debtor is actually global fi nancial crisis, said Jaan Männik as 13.20 Because it’s a jungle out there The Chairman ing boats were waiting in the port Aleksandrs Kazachkovs, Partner at MAQS Law Firm Riga, viable and can regenerate its economic capability. focus met him in his offi ce at Eesti Pank. I of Pärnu, ready to take them and a and Karolina Ullman, Partner at MAQS Law Firm Tallinn had been a pensioner since the year before, • I have held the group of other Estonian refugees 13.40 The Swedish Chambers’ of Commerce Global Network – However, if the employment contracts are being trans- but following a proposal from President position as Chair- across the Baltic Sea to Sweden, Benefi ts and Opportunities ferred on the grounds of the Obligations Act, then this man of the Board in tells Jaan Männik. Carl-Johan Jargenius, the Association of Swedish would distinguish the employment creditors from oth- Toomas Hendrik Ilves I was offered to Chair Chambers of Commerce and Industry, Stockholm several companies er creditors; it would place the employees in a more the Board of Estonia’s Central Bank which I and organizations 14.00 Q&A Session, Panel Discussion and Wrap Up favourable position than the other creditors. accepted and took offi ce June 13th, 2008. through the years 15.00–18.00 Swedish Businesses in the Pärnu area and I would say Study visits by bus to Estonian legislators will hopefully amend the law to that the Chairman’s Wendre and AQ Lasertool make it more understandable following the purposes Eesti Pank is a constitutional institution analyzing and role is basically the 19.00 Dinner and mingle at Villa Ammende of the EU directive. But until then, there is some administering the Estonian monetary system, including same wherever he remar kably good soil for disputes. Estonia’s monetary policy. As Estonia’s Central Bank, or she serves, said Conference costs: Eesti Pank is a national agency, independent of the Jaan Männik. Being • Per person: SCC members 21 €, non-members 30 €. The price includes Government and accountable to , the Estonian Chairman of Eesti Detail of Aibovaip (the Aibo tapestry) at breakfast, lunch and study tour by bus. Parliament. Pank is no excep- Aibolands Museum in Haapsalu. • Optional dinner and mingle at Villa Ammende, per person: SCC members tion; I participate in 26 €, non-members 32 €. Located in downtown Tallinn, Eesti Pank comprises six a process analyzing • My mother had settled onboard • Accommodation at Scandic Rannahotel, per night: Single room 36 €, double room 42 €. buildings forming an almost quadrangle block. The 1904 what has happened one of the two boats when my fa- red brick bank building of the former Credit Society of and putting focus on ther said that he, for some reason, Registration: the Estonian Knighthood with its eye catching corner what is going to hap- wanted them to take the other one • SCCE: [email protected], tel: (+372) 50 19 813 tower is a well known Tallinn landmark, also housing the pen. instead. Being pregnant and not feel- • SCCL: [email protected], tel: (+371) 29 51 7877 Eesti Pank museum in the ing too well, my mother wanted to We wish you all most welcome! basement. The neighbor- • My role as Chair- stay where she was and so they did. Kristiina Sikk Kaija Silarāja ing Eesti Pank building is man also includes As the course was set for Sweden Ombudsman Executive Director The Swedish Chamber of Commerce The Swedish Chamber of Commerce the former Reval offi ce of giving speeches in my parent’s boat got engine troubles. in Estonia in Latvia the Russian National Bank different countries The other one continued and obvi- and this is where the Large and connections. ously visual contact between the two Conference sponsors Hall, or the Independence I was recently in refugee boats was lost. That other Hall, is found; one of the Malmö, speaking at a boat was never seen nor heard of Photo: Eesti Pank symbols of Estonia’s Inde- seminar on Estonia again… Destiny was obviously on my pendence as the Temporary Eesti Pank parents’ side this September night, 10 11

arranged by the Chamber of Commerce and Industry of • The economical find Swedish salesmen marketing their country’s products it will be scrutinized Southern Sweden, the Estonian Embassy in Stockholm downturn has reached which wasn’t the case for the majority and services. As for Swedish investments, Estonia has the as the European ofto again… go on customerDestiny was calls obviously by taking on the and Enterprise Estonia. My main message was that it the bottom now. We of the passengers and crew onboard advantage of being located just across the Baltic Sea from Central Bank and the mysubway parents’ instead side thisof an September intercontinental has been hard times for Estonia the recent years and the will see a zero-growth MS Estonia exactly fifty years later. a Swedish perspective. European Commis- night,flight. which wasn’t the case for the country has taken many difficult decisions to counter the for still some time sion prepare their majority of the passengers and crew impacts of the economical downturn. Estonia has man- to come followed by • My parents went ashore Swedish • With investments come management and I believe that Convergence Reports onboard• After aMS couple Estonia of yearsexactly in fiftySweden, years aged to handle the situation and our extremely small for- growth as our main soil in Slite on the north eastern coast the Swedish management style, non-authoritative and this spring. These later.I entered the telecom business and eign debt, less than 3% of the GDP, is an invaluable asset. export markets re- of Gotland. They were taken to the flexible, have further contributed to the country’s talents reports will be pre- this coincided with Estonia’s singing cover and pick up mainland and spent their first time in getting a return on the investments. I believe that this sented to ECOFIN, the • revolutionMy parents followed went ashore by the Swed restored- economical speed. in Sweden in the Doverstorp refugee management style also proved its qualities during Swe- Economic and Finan- ishindependence soil in Slite on and the the north collapse eastern of the Estonia and Sweden camp located a bit west of Norrköping. den’s successful EU Presidency last year. cial Affairs Council coastSoviet of Union.Gotland. In They1993 wereI got thetaken op - • Foreign investments composed of the Eco- toportunity the mainland to continue and spent in the their telecom first • Estonia has learned its lesson and has understood the in Estonia will also During its existence from the spring of • The discussion on the Swedish banks’ situation in Es- nomics and Finance timeindustry, in Sweden but now in the in EstoniaDoverstorp working consequences of an overheated economy and also drawn grow. Investors are 1944 up until 1946, this camp became tonia is history now. Actions have been taken and the Ministers of the EU refugeewith, among camp otherlocated companies, a bit west Telia,of the proper conclusions, said Jaan Männik. focusing on the future the first contact with Sweden for some power­ful contributions made in this context by Riksbank- Member States, who Norrköping.Estonian Telephone (nowadays Elion) and Estonia’s hard 500 refugees from Estonia, Latvia and en, Sweden’s Central Bank, and the Swedish Government makes the final deci- and EMT. • The downturn began 2007 and last year we saw a 15% work and optimism Lithuania and an additional 1.500 war are highly appreciated and naturally of the utmost impor- sion. During its existence from the spring contraction of Estonia’s GDP as the global financial cri- for the future has refugees from other European coun- tance for Estonia’s financial system. of• 1944 I have up held until the 1946, position this camp as Chair be-- sis went on, though some signs of a recovery began to been duly noted in the tries. cameman theof the first Board contact in some with EstonianSweden visualize. The price we are paying on a national level is international invest- The euro The euro was intro- forcompanies some 500 and refugees organizations from Estonia, since increased unemployment and a drastically decreased do- ment community. • When I grew up there were basi- duced as an account- Latvia1997, andand Lithuaniain 2008 I wasand offeredan addi -the mestic demand. cally two alternatives for my future; • It is important to stress that it is not Estonia making ing currency 1999, tionalsame 1.500 position war inrefugees Eesti Pank from – otherEsto- • Sweden is indeed either I should become an engineer the decision whether we will have euro in our wallets and euro coins and Europeannia’s Central countries. Bank. the biggest foreign or a macro economist. I became an 2011, underlines Jaan Männik. No decision has been banknotes entered direct investor in engineer, but I’m happy to say that made yet and a somewhat lower profile in the ongoing circulation January • •When I am Ia grew bit dyslectic up there and were as suchbasi- in Estonia and has held later in my career I also got in con- media speculations wouldn’t do any harm. 1st, 2002. The cur- callygood two company; alternatives Sweden’s for my King future; Carl this position for quite tact with macro economics via my rency is in use in 16 eitherXVI Gustaf I should has become the same an problem. engineer some years now. In present position. • In our December 2009 ‘Report on the Adoption of the EU Member States orAnd a macro as several economist. other persons I became with an addition to Swedish Euro’ the Board of Eesti Pank says that “Estonia has known as the Euro- engineer,dyslexia, butfor exampleI’m happy IKEA’s to say Ingvar that investors’ positive • I graduated from the Faculty good opportunities to fulfill the Maastricht criteria in zone, and since its laterKamprad in my andcareer Sir RichardI also got Branson in con- of economical outlook of Engineering at Lund University as a spring [2010], which would allow to adopt the euro in introduction the euro tactthe with Virgin macro Group, economics I have a talent via my for for Estonia, I believe Master of Mechanical Engineering and 2011”. This statement is still valid and the figures behind has developed to presentunderstanding position. and handling figures. the reasons to be my first jobs took me abroad, among partly historical and other countries to USA, Yugoslavia • I graduated from the Faculty partly the result of and Saudi Arabia. of Engineering at Lund University as Sweden’s internatio­ a Master of Mechanical Engineering nally oriented mind- • I had been working abroad for seven and my first jobs took me abroad, set, said Jaan Män- years when I decided to go back to among other countries to USA, Yugo- nik. Sweden and become a bit more of a slavia and Saudi Arabia. permanent resident. I actually took • As for history, the the decision in the Saudi Arabian • I had been working abroad for sev- ties between Estonia desert one night. I was working for en years when I decided to go back and Sweden go back Alfa Laval down there and as I stood in to Sweden and become a bit more 1.000 years in time the desert this night, I thought about of a permanent resident. I actually and include not only my life and my ancestors; I felt that took the decision in the Saudi Arabian economical but also I wanted a life more like the genera- desertJaan Männik one night. with Ithe was Estonian-Swedish working for cultural and ethnical tions before me had. AlfaCalendar Laval 2010,down published there and with as support I stood ties. infrom the SCCEdesert this night, I thought about my life and my ancestors; I felt • Since I have been that• For I wanted natural a reasonslife more this like serves the gen me- working abroad for erationswell. Not before only inme my had. work, but also in many years with the my family. I am the father of two chil- Swedish export in- dren, 12 and 14 years old, and they dustry, I have myself have discovered their father’s talents been part of Sweden’s with mathematics. Occasionally this internationally orient- • The desert obviously does some- keeps the three of us busy during the ed mindset. Swedish thing to you. It is most probably not a evenings with math homework or exports is a key for coincidence that three of the big re- solving math problems just for fun. the country’s success ligions, Christianity, Islam and Juda- • Estonia is a small country and that gives us possibilities and, based on my own ism, took shape and were formed • Mathematics is basically about un- to be flexible and have a readiness for quick adjustments experiences, I can by people spending time in deserts. • derstandingThe desert obviously relations doesand coheren some- ­ to changes in the economical environment. Furthermore, say that there are few And this desert night I had made my thingces andto you. having It is thatmost understanding probably not a in it has also been politically possible to make the necessary countries in the world decision; I went to Stockholm and ex- coincidenceyour baggage that through three of the the adult big reli life- is cuts in the State budget. where you will not perienced the sensation of being able Jaan Männik and Kristiina Sikk, SCCE’s Ombudsman gions,a valuable Christianity, asset, ends Islam Jaan and Männik. 13

the second largest reserve currency and the second most traded currency in the world after the U.S. dollar.

• Greece, Portugal, Spain, Italy and Ireland, all in the Eu- rozone since 2002, are facing budget deficits being above the Maastricht criteria for adopting the euro, said Jaan Meriton Conference & Spa Hotel – Männik. This doesn’t strengthen the euro but on the other new hotel at the very heart of the capital. hand it hasn’t had any long term weakening effects either. Tough budget cuts have to be implemented in these coun- tries and whether this can be done on a national level with political EU support or if more hands on actions are needed from EU and the international community remains to be seen. Here we are. What’s next? • EU and the euro have strong public support in Estonia. I am however a bit concerned over the fact that the debate Estonian and Swedish companies have shown remarkable on EU and the euro as a federal institution and monetary instrument versus national autonomy in these respects flexibility in adjusting to the economical crisis, say economical Swaying domino haven’t come further. This is nothing unique for Estonia; I analysts as they take a closer look at the current state of the bricks am of the opinion that this is something valid for several Aqua & center EU Member States. economy.

Companies responded Commissioner for Economic and adjusted to the eco- and Monetary Affairs in a nomical downturn very recent outlook. quickly and many man- aged to lay a fundament • According to Eurostat, Es- for their survival. At the tonia’s unemployment in the same time a price has to third quarter 2009 was third- be paid for the actions highest in Europe, behind taken; unemployment Latvia and Spain, and ahead • With a strong centre; the continues to increase of Lithuania, wrote Edward European Central Bank in Ger- and domestic demand Lucas, a correspondent of many and the EU Commission, Fitness center - gym, training classes, water aerobics decrease. The Economist. Estonia is on and a weak periphery; coun- its way out of the crisis but tries like Greece, Italy, Spain, A key issue for turning the unemployment figures Portugal and Ireland, the the economies to growth again is an increased demand are very worrying being on centrifugal force will increase – external as well as domestic. According to the EU the highest level since 1991. and a number of countries Commission it is on its way, but will pick up very slowly might be forced to leave the while unemployment will continue to increase, though As for Sweden, the Minister European Monetary Union, said in a slower pace than last year. for Finance Anders Borg the New York based economy now predicts a 9% Swedish professor Nouriel Roubini, unemployment level 2010 also known as Dr. Doom, at the Unemployment instead of 12% as predicted World Economic Forum. in a nightmare scenario last • We do not expect any improvements in terms of em- year. A common factor for the euro Wellness spa - spa treatments, hairdresser ployment figures until 2011, said Joaquin Almunia, EU’s countries hit hard by the crisis • We can now go on from the is a decreased competitiveness • As for Estonia, the introduction of the euro would have emergency phase of fighting on the international market. three main effects, concluded Jaan Männik; the crisis and afford a fight against unemployment, said Greece has a considerable 1) Estonia would take another step towards Europe. Anders Borg in a comment. budget deficit and faces ex- 2) The devaluation discussions would enter the history ploding risk premiums on state books and Estonia would gain a strong and solid debt instruments. Portugal’s profile. Credits and Spain’s economies are 3) The stability in the investment and economical markets among the weakest in the eu- influencing Estonia would increase. Commenting on the finance ro-zone. Italy’s budget deficit is market the EU Commission way above the euro-zone limit says it has noted stabiliza- and Ireland has been forced to Asian Restaurant Wok & Grill, Café Mademoiselle, tion and an improvement, make drastic budget cuts. Bistro Mary, Grand Catering by Meriton Text: Megazine – Tallinn though banks are restrictive Photo: Lea Tammik with credits. • The euro system has proved Paldiski mnt 4, Tallinn itself stable so far, but there Tel.+372 66 77 111, [email protected] • This is a continued is nothing more destabili­ www.meritonhotels.com 14 15

ters of the 27 EU member states. We don’t foresee the self – the great story of the past 19 years needs a new CEO’s faulted their own approaches to risk as much as growth as the immediate result of increased exports, chapter, wrote the Economist’s correspondent Edward they did the risk practices in the financial sector. The but we do expect increased Swedish domestic demand Lucas. Estonia should not aim to stay only as a low-cost time to manage risks and address complacency is when and a stronger development of our service sector. provider of goods and services. conditions are improving. The alternative has proven daunting. A prognosis from the Swedish based Carnegie Invest- • The best way to be taken seriously is to have some- ment Bank says that the average margin of Nordic com- thing new and interesting to say; show that brainpower, panies will land at around 10% for 2009 which equals creativity and innovation deserve a place at the top Bubbles and crises a drop of 3-4% compared to the record years 2006 and table. Europe needs that dynamism, innovation and 2007. This is an extraordinary and surprisingly low drop flexibility more than ever. • What happened in Estonia was not a financial crisis, as history shows decreased margins with up to 6% dur- but a local bubble and its international impact, reported ing previous economical crisis and downturns. ERR - Eesti Rahvusringhääling (Estonian Public Broad- zing than a common idea that Lessons learned casting), quoting a January interview with Estonia’s Fi- something is stable, wrote the nance Minister Jürgen Ligi. th Swedish journalist Per Lind- In their 13 Annual Global CEO Survey, Pricewater- vall quoting the macro econo- houseCoopers asked 1.198 business leaders from problem as we will not get mist Hyman Minsky. around the world on their lessons learned as they are any sustainable economic now shifting from crisis mode to a growth agenda: recovery without normal • This perceived stability credit flows, commented made other countries close • Long-term planning is critical – but be prepared EU Commissioner Joaquin their eyes on the growing to change at a moment’s notice Almunia. state economy imbalances in Greece, Italy, Spain, Portugal The importance Hit hard by the crisis, Lat- and Ireland whose budget of strategy, via’s Prime Minister Valdis deficits are way above the limit clearly under- Dombrovskis addressed the stipulated for euro-countries, stood by custom- credit issue in a Financial continued Per Lindvall. ers, employees Times interview. Comparing and business the generous credits given • Greece is the biggest prob- partners, cannot during the economic boom lem right now and it is highly Photo: Pawel Flato be underesti- with today’s lack of credits unlikely that other euro- and mated in a crisis. he said: EU-countries believe that Prime Ministers Andrus Ansip and Fredrik Reinfeldt with Norway’s Yet the speed with which market conditions change Greece can handle the situa- PM Jens Stoltenberg in the middle today can render planning models moot. The key is to • Of course one can say that Photo: Lea Tammik tion by itself nor let the country embed agility throughout an organization to enable rap- Latvians acted irrespon- Anders Borg’s and Carnegie’s statements are good go bankrupt. id reaction to fast-changing trends while maintaining a sible when they borrowed news for Estonia. Sweden is by far the biggest foreign strategic positioning. Jürgen Ligi • The big question is how so much money. direct investor in Estonia and is also one of Estonia’s Greece should be supported main export markets. Together with Finland, these • Stay disciplined on costs, but incur them to As for Estonia the bubble V, U or W • and how the problem with However, borrowing an ir- two Nordic countries represent an engine for Estonia’s innovate did indeed burst, the global euro-countries corrupting the responsible amount of mon- economy. However, just relying on Sweden and Fin- financial crisis had indeed monetary system should be ey requires that somebody land is not enough for Estonia’s economic recovery and The vigorous cost-cutting measures adopted over the its impact on the country handled. And finally; who will lends out an irresponsible a continued and sustainable growth. past year exposed inefficiencies throughout organiza- and in January bubbles pay the bill?, concluded Per amount, said Valdis Dom- tions, and CEO’s remain highly focused on costs. Yet and crises were intensively th Lindvall. brovskis to Financial Times. this inward concentration needs to be balanced with a discussed at the 40 WEF A new chapter needed long-term focus on what it will take to remain competi- - World Economic Forum tive. ‘I’ve discovered that you can’t actually reduce your in Davos. Are we getting Recovery • What Estonia really needs is a new account of it- costs dramatically and still remain profitable’, said one back to normal or are we UK-based CEO. witnessing a delusive calm- Sweden’s Minister for Finance Anders Borg now sees ness before the next bubble clear signs on a Swedish recovery and has adjusted the • Encourage banks to lend – and crisis? country’s economic growth prognosis to 3% for 2010 but assume they won’t • For quite some time I was and slightly above for 2011 and 2012. convinced that the current Companies are paying far closer attention to their own economical recovery will be • It looks like Sweden’s growth the coming three years cash management and leverage, and have learned not slow and shaped like a U, says will be stronger than most other EU countries’, said to rely on a single source for financing. The reality is Nouriel Roubini, the economy Anders Borg at that this is the time to deepen the relationship with the professor at Stern School of a recent meet- bank. Financing costs are rising as banks become more Business, New York Univer- ing with ECOFIN selective; they will favor companies whose strategy and sity and known as Dr. Doom. - the Economic long-term outlook give them confidence. Today I’m afraid this might and Financial be as wrong as believing that Affairs Council • Manage risk in good times and bad • We have been through a the recovery will be quick and composed of the heart failure, but heart fail- V-shaped. We might very well Economics and The importance of good risk management practices ures are not necessarily le- face a double dip, a W-shaped Finance Minis- was by far the most frequently cited ‘lesson learned’. thal, said David Ruben- economic development. 16 17

stein, CEO at the investment • The banks, the unemploy- company Carlyle Group. ment, the stock and commodity market rally, and the US dollar China was put on the agenda are the biggest threats right as a risk factor for a new now, said Nouriel Roubini in bubble. Customised a recent CNBC interview. The banks are carrying big losses • China has a very unbal- quality solutions. and many are still severely un- anced growth, said Daniel der capitalized. Unemployment Hoffman, Chief Economist at will result in decreased de- Zurich Financial Services, as Down to the This time on tour met RIMI Eesti Food, continued to Viljandi for a visit to mand. The stock and commodity he presented WEF’s Global Farm Plant Eesti and concluded the tour in Tartu and Tallinn by taking a look at the market rally came too early and Risk Report. Chinese eco- smallest detail. hospitality trade. speculations might drive up nomic stimuli packages led prices on oil, energy and food to a 30% credit increase in stuff to levels that the world the country last year and in At the right economy can’t handle. cities like Beijing and Shang- hai real estate prices have price. • If USA would let infl ation increased with 60%. Changed consumer behavior It’s ICA in Sweden consume their gigantic foreign debts, then the USD will crash • The situation is delicate on the market, said Nouriel and a less than 6% Chinese • Nowadays we can see a clearly Roubini to CNBC. growth is a red warning light changed consumer behavior in for the world economy. Marc Faber, considered as an- Estonia, says Christer Östholm, other Dr. Doom and publisher Rolf Dörig, representing the Rimi Eesti Food’s Country Managing of the newsletter The Gloom, international manning com- RIMI Baltics’ Swedish Boom & Doom Report, sup- pany Adecco had a positive Director. Known as cherry picking mother company, ICA AB, ports Nouriel Roubini’s dreary view and said that though in our trade, it means that people doesn’t operate under the outlook. unemployment levels will continue to increase this are spending more time shopping RIMI brand in Sweden. It’s ICA in Sweden with more • This fi nancial crisis is just an year signs of a change for for best available price in several than 1.300 ICA shops all appetizer, says Marc Faber. The the better has already turned around the country branded persons who are supposed to up in USA and . stores. Furthermore sales of basic ICA Nära, ICA Supermarket, lead the recovery are the same food stuff increases while sales of ICA Kvantum and MAXI ICA individuals who failed in pre- • On a longer term, lack of Stormarknad. dicting the crisis. Nothing will labour will be the biggest semi-manufactured food products be achieved except for creating challenge, said Rolf Dörig. have decreased. regulations being worse than Christer Östholm the ones which paved the way ILO – the International La- for the crisis. bour Organization had an- other viewpoint and wanted a Rimi Eesti Food AS is only an issue for us to keep our global political pact against a part of Rimi Baltic, share of market, we have to unemployment. fully consolidated lower our costs as well, says into the Swedish ICA Christer Östholm. We employ • 27 million people around the world lost their jobs Group since 2007. In some 2.700 people here and 2009, including 10 million young people not getting a job Estonia the company managed to lower the salary after fi nishing their education. When it comes to jobs we operates 20 hyper- and super-markets under the Rimi costs with 5% last year and a need the same political support as has been shown in brand and 58 Säästumarket Hard Discount. further 2% salary decrease saving the banks, said the ILO Manager Juan Somavia. is scheduled for this year. Ad- It all began in 1917 as • Estonian consumers are adapting to lower income levels ditionally we have downsized Hakon Swenson founded Several CEO’s of the world’s leading banks also ad- by spending more time on price shopping and they obvi- our staffi ng at the central offi ce Hakonbolaget, the origin dressed the Forum on lessons learned, future realistic ously also spend more time at home cooking their meals from 180 down to 150 persons of today’s ICA, in Västerås, credit volumes and solid securities but also warned for based on basic ingredients. At the same time the number and during three months last Sweden. At the core of an over regulated fi nance market. of shopping occasions has dropped from 4 -5 to 3 per year they had two unpaid work- the ICA concept lays the week, continues Christer Östholm. ing days per month. Rental idea of getting individual • Everybody will loose if we don’t have effective fi nance costs for our localities have retailers to join forces and markets, said Deutsche Bank’s CEO Josef Ackerman • The market is down and it’s back to basics in our trade been and still are renegotiated, form purchasing centers, whose speech was characterized as self criticism with a as the margins are small and we have to cover our costs by while costs for heating has a allowing them to achieve the touch of a bank mutiny against the politicians. maximizing sales volumes. Our total Estonian Säästumar- considerable impact on our same economies of scale as Falkonet Metall OÜ ket and Rimi market share is 22%, putting us on top of the cost structure and are hard for the chains by making joint Research and text: Tel: (+372) 60 54 060 list ahead of competing chains. us to infl uence. purchases, establishing Megazine – Tallinn E-mail: [email protected] www.falkonet.ee stores and sharing their • Given the weakened Estonian domestic demand it is not marketing costs. Falkonet Metall is a member of: The Estonian Recycling Organization, the Swedish Chamber of Commerce in Estonia and the Estonian-Swedish Chamber of Commerce. 18

• I have been based Farm Plant Eesti’s Managing Director, as focus met him tion sites in Taebla, Elva in Tallinn working in the company’s Viljandi feed factory. The ownership and Türi, and in Decem- with Rimi Eesti Food structure gives us strength, both internally and when it ber 2009 we also went for a bit more than a comes to create volumes in the purchasing of commodi- into the retail business year now, says Chris- ties needed for our production. as Farm Plant Eesti ter Östholm. I have a bought six shops from background as a law- Konekesko Eesti. Located yer and started up in Jüri, Mäeküla, Tartu, with ICA in Sweden Rakvere, Võru and Viljan- back in 1985. With di these shops sell ferti- the exception of two lizers, food and equipment years working with for animals and pets, agri- In today’s internationalized business a bank, I have been cultural and garden equip- environment local market expertise in with the company ment as well as equipment ever since. for milk producers. accounting, auditing and tax consulting is not enough. Rödl & Partner opens the gates both to New digital solutions combined with the national and international marketplaces with • Being a Swede living and working in Estonia I have noted • Farm Plant Eesti’s well proven analog techniques make some differences between our two countries in the way we market is in Estonia it possible for Farm Plant Eesti to run 3000 experts employed at 83 locations offices do business, concludes Christer Östholm. One example is and though we saw our one feed production shift with only in 37 countries around the world. the Estonian Consumer Protection Law, which among other turnover drop to EEK 500 two men operating the process issues says that campaign offers – offers where we really million last year com- Personal Service slash the prices on good products – should be available for pared to EEK 750 million You always cooperate with one and the same unlimited purchase. The consequence, as we have noted, in 2008, I am optimistic person at Rödl & Partner. is that these campaign products immediately are bought Jyrki Virtanen, Farm Plant Eesti and Kristiina Sikk, SCCE for the future. Our plan up by competition is to grow on our home Full service and offered at their • Producing and selling animal market and Estonia has a Being entrepreneurs ourselves, we fully stores to prices feed accounts for the majority well functioning farming understand our customers need to focus on their way above our of our turnover and our feed industry; the Estonian business core values. original offer. I’m production of 100.000 tons farmer is professional not convinced that per year makes us the market and the farms are rela- Rödl & Partner is a one-stop service this protects the tively big, concluded leader in Estonia, told Jyrki organization: interests of Esto- Virtanen. Fertilizers are an Swedish agriculture Jyrki Virtanen. - Auditing nian consumers. additional important part of has a long tradition of - Accounting our sales. We produce 30.000 cooperative collaboration -Tax Advisory tons per year and that gener- and the forerunner of collective name refers - Legal Services ates 35% of the turnover while today’s Lantmännen to producers of goods or other agricultural products ac- was formed in 1880 services collaborating in Global service Feed, fertilizers and count for the rest. as a farmers’ union in marketing, distribution, Touring the Farm Plant Eesti Viljandi Skaraborg County. sale, processing and production site with Epp Saluveer, Rödl & Partner is present where business is agricultural products Farm Plant Eesti started by purchase of materials and Production Manager - Viljandi: An present and we speak the language of our importing feed additives in The main aims of the early equipment. impressive system of big tubes clients. 1993 and three years later the cooperatives were to transports the feed ingredients… The oval, green company purchased a concen- improve quality control, symbol in Farm trated feed factory in Taebla. reduce purchase prices Estonia Lithuania Roosikrantsi 2 Tilto Str.1/2 Plant Eesti’s Having a history going back to and transport costs and EE 10119 Tallinn Vilnius 01101 1880, the Swedish Lantmän- facilitate the exchange logotype is well Tel: (+372) 68 05 620 Tel: (+370) 5 212 35 90 nen Group had grown big in of experience between e-mail: [email protected] known to most e-mail: [email protected] Sweden and searched for new farmers. www.roedl.lt www.roedl.ee Swedes. It relates markets for their continued to the Swedish expansion. Thus they bought Local associations were The purpose of the orga- Latvia Global Headoffice Lantmännen Group, 85% of Farm Plant Eesti in eventually formed, but the nization is to maintain K.Valdemara iela 33 Äußere Sulzbacher Straße 100 2002 and the current owner- need to establish larger owned by 40.000 a highly competitive …to the mixer… Riga 1010 Nürnberg 90491, Germany Swedish farmers and ship structure – Scandinavian trading partners soon enterprise and a Tel: (+371) 67 334 280 Tel: (+49) 911 91 93-0 operating a number Farmers owns 85% and Yara became apparent, and the cooperative with clear e-mail: [email protected] e-mail: [email protected] of businesses 15% of Farm Plant Eesti - next step was often to form owner control based on www.roedl.lv www.roedl.de dates back to 2006. regional associations at the farmers’ needs. One closely related to county level. of its goals is to create Rödl & Partner International: Germany (Head Of ce), farmers’ needs in 19 • Farm Plant Eesti employs a cohesive Group, able Austria, , Belgium, Bosnia and Herzegovina, Brazil, countries. 65 people and 40 of them are Today’s Lantmännen was to maximize its strength Bulgaria, China, Croatia, Czech Republic, Estonia, France, working here in Viljandi, said established January 1st throughout the value chain Great Britain, Hungary, Hong Kong, India, Indonesia, Italy, Latvia, Lithuania, Malaysia, Moldova, Poland, Qatar, Romania, • The Swedish Lantmännen Group owns 50% of our ma- Jyrki Virtanen. In addition to 2001 and is a producers’ and tap into synergies and …before final delivery to the Russia, Singapore, Slovakia, Slovenia, South-Africa, South-Korea, jority owner Scandinavian Farmers, said Jyrki Virtanen, cooperative. This Viljandi we also have produc- economies of scale. consumers. Spain, Sweden, Switzerland,Thailand,Turkey, , United Arab Emirates, U,SA Vietnam 21 20

Hospitality should keep being our main MICE – international • The shortage of commodi- source markets, continued Meetings, Incentives, Some businesses reflect the ups and Tallinn ties had a further impact on Olivier Rochefort. Group Conventions and Exhibi- the menu at the first dinner requests are quite plenti- tions thought for myself that this downs in the economy more than others As the Estonian passenger train operator GoRail reported with my new Estonian col- ful, however conversion is might be the case; maybe I and the hospitality trade is one of them. that they added extra trains on the Tallinn - Moscow and leagues. We sat down in the uncertain as the market is • Tallinn lost an important am entering a society that Tallinn – St. Petersburg routes during Christmas, New Year Tallinn hotel restaurant and competing with other Euro- January event with 1.000 has been preserved like the and Epiphany, had a talk with four Tallinn hotels’ gen- could choose between kan- pean cities, and one convinc- delegates of the pharmaceuti- content in a tin jar during eral managers; how was the occupancy during the holiday garoo or crocodile cutlets. ing factor is cost and ease of cal industry to St. Petersburg fifty years of occupation and season and how does it look so far for 2010? Parts of an Australian ship- transportation. simply because Tallinn has now the restored independ- Nineteen years ment of deep frozen meat no adequate facility to host a ence has opened the jar. As ago • We had a good occupancy during the fes- had obviously found its way • We had a good occupancy gala dinner for this number of we all know Estonia picked tive season, said Hotel Telegraaf’s General to Tallinn. during the holiday season guests, said Olivier Rochefort, up speed and few countries Manager Michael Stenner. The Russians and in addition to a couple of putting the finger on Tallinn’s have developed so fast and in have found their way back during these • The restaurant was very happy Swedes the majority lack of MICE facilities for big- so many respects as Estonia holidays which is a positive sign since Rus- empty but a lady in a long of all our Christmas guests ger internationally composed has in just nineteen years. sia is one of our core markets. black dress appeared and were Finnish and during New events. Michael started to play harp. This Year we welcomed a lot of Stenner, • Sweden and the other Nordic countries first dinner in Tallinn had Russians, said Meriton Ho- Estonian media report that Tallinn’s bunker shaped Lin- Hotel Telegraaf together with UK and Germany are also kind of a surrealistic touch. tels’ General Manager Heinz nahall is now closed and up for a renovation though any belonging to our core markets and I believe I Weisl. The European Figure details of the project have not been revealed so far. Fur- can say that I see the light in the end of the tunnel now. • We took an after dinner Skating Championships in thermore no future development plans for Tallinn’s fairs walk and passed Vabaduse January brought us a busy and exhibitions grounds in Pirita have been presented yet. • Christmas’ and New Year’s occupancy Väljak. There were not too week as well with skaters, was better than last year but the Rus- many cars parked there and leaders, trainers, journalists • Bigger meeting venues should be located close to the sians spend less money for food and the few we saw were Lada’s, and spectators among our main international first class hotels in the market. This is The Estonian Hotel and Res- drinks, said Kay Peter Bischoff, General Moskvitch’s and Volga’s. En- guests. definitely a topic of discussion at the Estonian Convention taurant Association’s statistics Manager at Schlössle Hotel and Hotel tering the old town, the ruins Bureau and the Estonian Hotel and Restaurant Association. for 2009 show that its member St. Petersbourg. Our outlook for 2010 next to Harju Street from the It should be of national importance to support sustainable hotels accommodated 21,2% is optimistic as we cut down expenses Soviet World War II bombings development of tourism in Estonia’s only metropolitan fewer guests last year com- wherever we could and now we are were still visible. Nowadays area, especially MICE business, continued Olivier Roche- pared to 2008 and the average spending in marketing to hopefully get Kay Peter Bischoff, this spot has been covered fort. The hotel infrastructure is there, and the Old Town is occupancy rate dropped to more guests. Schlössle Hotel and and you can enjoy a pizza 45,3% from nearly 50% in Hotel St. Petersbourg there during summertime or 2008. Net turnover of the ho- • Nevertheless the incoming flights skate during wintertime. tels in the association shrank to Tallinn are still an issue and I wonder why Estonian Air 35,7% compared to 2008. is flying to Nice rather than some important destinations • Flying to Tallinn from generating an inflow instead of an outflow of passengers, Stockholm took you on a dif- Estonian restaurants had an continued Kay Peter Bischoff. That Turkish Airlines is ferent route compared with equally gloomy 2009. Member coming is a good sign and hopefully Easy Jet will increase today. The heading was set to Things were a bit different restaurants of the Estonian Ho- their flights and Lufthansa will open up again on the Tallinn a point just south of 19 years ago and a member tel and Restaurant Association – Munich route with direct connections to the US. and there the aircraft turned of the Swedish Chamber report that their net sales con- south towards Tallinn. of Commerce in Estonia tracted with 39,8% compared to • Our Christmas bookings were Though being in the proc- recalls his first visits to 2008. good, the occupancy was above ess of demounting, former Tallinn during the winter of 60%, and during New Year we had Soviet military bases were 1991/92: The Estonian hospitality trade a full house with most of these still in existence and passing Heinz Weisl, Meriton Hotels has developed tremendously bookings from Russia, and we were Paldiski and the Ämari air • It was recommended to since the restored independ- very busy the following weekend as force base, as today’s Stock- • As for 2010 I believe that our bring a sleeping bag and ence 1991. Tallinn offers a well, said Olivier Rochefort, Radis- holm flights do, was out of conference and spa facilities toilet paper in your baggage, wide selection of accommoda- son BLU Hotel’s General Manager. the question. Anyhow, on a which opened last year at the tells the SCCE member. tion options ranging from We are trying to keep a realistic clear day you got a good view Meriton Grand Conference & There were no guarantees hostels to five-star luxury ho- outlook 2010 and therefore we are of the former Soviet missile Spa Hotel will be a key factor that heating worked on a tels. And in the rest of Estonia expecting more or less the demand base on the Viimsi peninsula for our competitive edge, con- 24hrs basis seven days a available alternatives range Olivier Rochefort, to be similar to 2009, with perhaps as the aircraft approached cluded Heinz Weisl. Combined week, which called for the from farmhouse and exclusive Radisson BLU Hotel a little more demand coming in Tallinn. with our other two Tallinn ho- sleeping bag. And the com- mansion accommodation on the second semester while last tels, Meriton Old Town Hotel modity shortage of those the countryside to budget and year was the contrary with demand quieting down in the • Tallinn airport’s old ter- and the just recently opened days also included toilet higher end hotels in the bigger second half. minal was still in use during Meriton Old Town Garden paper. cities. these days. Getting inside Hotel, I believe we can offer • Geographically we do not expect any shift, our proxim- this classic building was like a hospitality concept suitable ity markets that are Scandinavia, Russia and the Baltics entering the 1930’s and I for a wide range of guests. 23 22 The first 92 years 23 Celebrating Laidoner Museum, welcomed the Chambers’ members a natural selling argument. I have worked in Myrtle Beach, to Viimsi Manor. USA, and Quebec City, , where both cities have partnered with other levels of government and local busi- Vabariigi Aastapäev Indrek gave life to Estonia’s dramatic first years of ness interests to build and operate state of the art large Independence, with a special focus on General Johan conference and exhibition centers. In the years following Laidoner and foreigners fighting for Estonia during the their opening, their airports have also expanded due to – Estonia’s War of Independence 1918-1920. increased demand and additional flights.

Michael Stenner, Kay Peter Bischoff and Heinz Weisl all Independence Day agree and say that the issue of an adequate MICE-venue is The first 92 years: a frequent subject in their talks with Estonian and Tallinn It has by now become a tradition political leaders. for the Swedish Chamber of Com- Estonia – Nordic, As for Sweden, Stockholmsmässan – Stockholm Interna- merce in Estonia to commemo- tional Fairs & Congress Center says that creating a proper rate and celebrate Estonia’s Inde- MICE-venue for international events is not a question of a pendence Day. with a twist host city’s or country’s size. The events arranged are inter- national and consequently a considerable part, and in most The Swedish Governor General of Livonia Johan Skytte, who made cases the majority of the participants are from abroad. the preparations for the creation of the University of Tartu founded As a more formal SCCE tradition this yearly celebration is The theme was Nordic at by King Gustav II Adolf 1632. The memorial was unveiled by Sweden’s th quite young. February 19 , 2008, a few days before the of- this year’s 92nd Anniversary The Hueck House • One Swedish krona spent on a MICE-event at Queen Silvia in connection with the University’s 375 years anniversary ficial 90th Anniversary of the Republic of Estonia February in 2007. ­mässan generates another four kronor to 24th, an impressive number of members of the Swedish of the Republic of Estonia. Stockholm companies, and to the City and County of • We celebrated our first anniver- Chamber of Commerce in Estonia gathered at the Swedish The reception took place Stockholm. This makes us the biggest single generator of sary at the end of February this year, Embassy in Tallinn following a joint invitation by the then February 15th at the Nordic visitor incomes to Sweden, says Stockholm International said Jaana Pärna, Manager at Hotel Ambassador of Sweden to Estonia, Dag Hartelius and the Council of Ministers’ Office Fairs & Congress Center, jointly owned by the City of Antonius, located just across the SCCE to an evening reception. Stockholm and the Stockholm Chamber of Commerce. street from the University. We offer 6 in Tallinn and was jointly Carita Pettersson, Head Suites, 3 Double de Luxe, 8 Superior arranged by NCM, SCCE, of the Nordic Council of Double Rooms and a single Garret and the Danish and Finnish Ministers’ Office in Tallinn Room. Our guests are mainly inter- Chambers of Commerce in and her colleagues have national business travelers, many of an interesting work place. them with their work connected to Estonia. Their office is located in a the University. Jaana Pärna, medieval house, known as Hotel Antonius the Hueck House, at Lai 29 • Our first year of operation was in Tallinn’s old town and successful, told Jaana Pärna. Our occupancy was 80% last this specific building is as- summer and the rest of the year accounted for a 60% oc- sociated with a number of cupancy. ghost stories.

• Hotel Antonius is located in a medieval building and the In the 1930’s, people often old vaults in our restaurant give our guests a touch of times 2008: The first 90 years at the Swedish Embassy in Tallinn heard sounds of someone past. We put quite an effort in preserving the medieval at- shuffling through the Lai 29 mosphere here while at the same time creating an elegant Few people can make times past living as Mart Laar house and making knock- and welcomed by Dag Hartelius, Mart took the stand ing noises. One account restaurant with an atrium decorated with a rose garden 2010: The first 92 years at the Nordic ceiling painting. this evening and gave a personal and colorful speech Council of Ministers’ Office in Tallinn; tells of a servant being hit covering the past 90 years of Estonia’s history. Mart Karolina Ullman, SCCE’s Vice on the legs by an invisible • In general the hotel business in Tartu is less seasonal Laar is not only chairman of the Pro Patria and Res Chairman and Carita Pettersson, force, another of a man’s compared to Tallinn, said Jaana Pärna. We don’t have any Publica Union and a member of the Estonian Parlia- Head of NCM in Estonia face peering from inside real big peaks or extreme low seasons; our occupancy ment – Riigikogu; he also has a PhD in history and is the a wall. Tartu rate is more evenly spread out over the year. author of several books on the Estonian history and the This year’s theme goes back to resistance to the Soviet occupation. the time when Estonia prepared Tartu is not only about higher education offered by insti- Commenting on the rather new air connection between for its upcoming membership in tutions like the University of Tartu, Baltic Defence College Tartu and Stockholm/Arlanda, Jaana Pärna said that Hotel The first 91 years the EU 2004. An exhibition was and the Estonian Aviation Academy. Antonius has not seen any additional number of Swedes as were celebrated opened in Brussels to introduce a result of the flights. During the winter season 2009/2010 February 26th, 2009 the country to old and new EU- Adding to the Swedish background of the University, the route is operated four times per week, with a mid-day together with the Ger- members and it was headlined companies with full or part Swedish ownership like Hanza rotation on Thursdays and Sundays and a late afternoon/ man-Baltic Chamber ‘Estonia – Nordic, with a twist’, Most tales relate to the Tarkon, Primus Eesti and Sievert Eesti are well established evening rotation performed on Mondays and Fridays. of Commerce. This putting Estonia on the map as a ghost of a monk that was in Tartu since many years now. A wide range of additional year Indrek Tarand, Nordic country. supposedly walled up in export oriented Tartu based industries and SME’s further the then Director of 2009: The first 91 years at the Estonian the house. This belief is contribute to the city’s international atmosphere. Texts: Megazine - Tallinn the Estonian War Mu- War Museum – General Laidoner • We have hosted all kinds of probably based on the true seum – General Museum in Viimsi Manor receptions in these premises, story of Johann von Hilten, 24 25 The first 92 24years The first 92 years • 2009 was a difficult and • Although we as countries in the northern part of tatoes, to Stockholm, Helsinki, , and other trading a radical monk who lived challenging year, but today EuropePhoto: Hans have Bjurling different personalities, we are also so centers around the Baltic Sea. in the Hueck House in the we can say that the politi- similar. We share interests, values, principles and 15th century as the guest of cal and financial decisions … humor. We laugh at the same jokes that we make Built in Estonia Hermann Greve, a merchant taken in Estonia were right. about our neighbors. We like cold and snowy winters. and alderman. But nothing came granted; We even enjoy them. When 2 cm of snow cause public it came at significant cost, emergency in Brussels, Paris, London or Rome – we In 1464, von Hilten caused said Marina Kaljurand in smile our Nordic smile and pack our skies for week- a stir by secretly perform- her speech. Cuts in wages, end ski trips. We have a similar attitude towards work ing a marriage ceremony but this is the first time we cuts in personnel, high un- and pleasure, we prefer working to siesta, we have for Greve’s stepdaughter, host one for the Nordic busi- employment rate, lost jobs internet access 24/7, and we even belong to the same Margarete Büddinck, to a ness community. A bit aston- which are all personal trag- organizations - UN, WTO, OSCE, NATO, EU, EN and tradesman from Bremen ishing perhaps, keeping in edies, and uncertainty in soon - OECD. against the family’s wishes. mind that the NCM office has the future. Marina Kaljurand To complicate matters, von been here since 1991, said • From this summer there will be one Baltic-Nordic Hilten had himself fallen in Carita Pettersson, Head of the • So, what can Estonia put on the positive side? Fulfill- country that will belong to all of the mentioned organi- love with the young Marga- Nordic Council of Ministers’ ment of Maastricht criteria, finishing the accession ne- zations. That is Estonia. And that is something! At the rete, and wrote her passion- Office in Estonia. gotiations with the OECD, the first signs of improvement same time we should not lose our cool Nordic-Baltic ate love letters in his own of export and a possible economic growth, and a better heads, we should keep our priorities straight and tails blood. • The reason why is obvi- Estonian image. up! ously that our priorities have changed. In the 90’s we were • Estonia is today portrayed as one of the few EU coun- • Trust me – we will never be selfish and forget our very much an aid office, but to- tries that can keep and is willing to keep budgetary Nordic friends who for ages have been loving, support- Hoppet av Spithamn. day, in particular after Estonia discipline. Estonian exports have started to improve ing, sometimes irritating and patronizing, but always Length: 21,82 m, breadth: 6,84m, draught: 2,1m, weight: appr. 60 tons, became an EU member and because our main export markets are doing better. New honest and friendly. So whenever Sweden and Finland including 15 tons of lead ballast. in accordance with our guide- investors are coming to Estonia, some of them from will decide to join NATO, we will support. Whenever lines, approved by the Nordic Nordic countries and some of them relocating busi- Iceland and Norway will decide to accede to the EU, we Hoppet av Spithamn is one of Sten Westerholm Apparently not charmed by governments and by the Es- nesses to Estonia. will support. Whenever Latvia, Denmark, Sweden and these ships and the only sailing this gesture, she rejected tonian government, we coop- Lithuania will be ready to join the Eurozone, we will vessel having survived the oc- him, but he took revenge by erate on a partnership level, • In nr 2, 2009, Anders Hedman wrote in his edito- support. And I could continue. cupation of Estonia. convincing Greve to cancel for mutual Baltic and Nordic rial; “I think it is very painful indeed for many Swedish- her dowry and revoke the benefit. Estonians when their friends in Sweden read about the • And, there is one more thing that unites us – it is the She was built by shipbuild- lease on the house he had bad Estonian economy and the possible devaluation of Winter Olympics. We will keep our fingers crossed for er Mathias Schönberg in given to Margarete’s hus- the Estonian currency”. We all remember headings and our skiing queens and kings and of course we hope that Spithamn, a small seaside vil- band. information – often biased – about Estonia, the Baltic our own royalties will win. But we know how to enjoy a lage in Nuckö (Noarootsi) dur- countries, and Eastern European countries, but today good sport event and fair competition. So, if we lack an ing the years 1925–1926 and If there is the ghost of a the overall picture is changing in a positive direction for Estonian winner, we will be equally happy to see Nor- sold to Finland in 1927. She monk in this house, it is Estonia. dic winners. sailed as a cargo vessel under probably not Johann von Finnish flag up until 1965 when Hilten. He was imprisoned • Do we like it? Yes. Are we happy about it? Are we • Because we are Estonians and Nordics with a twist, she was sold to Stockholm and by the Catholic Church and happy that instead of Baltic losers the press is writing all year round, concluded Marina Kaljurand her highly used for pleasure cruising. Sten Westerholm is an died in Germany. about difficulties in Latvia? Are we happy that we will appreciated speech. author, a former journalist join the Eurozone and OECD as the only Baltic country? Rebuilt in Finland and the Managing Director Some believe it is Marga- • We have a joint Nordic-Baltic Well, so and so. Of course, we are happy that we are of Rederi AB Hoppet, the rete’s ghost that haunts the business grant schedule and doing comparatively well but we will be happier if the Report: Megazine - Tallinn Hoppet av Spithamn is a cul- company owning Hoppet av house and a more recent our focus as for business ac- region as a whole will be successful and prosperous. ture historically unique vessel, Spithamn. account tells of loud noises tivities is set on the so called now being reborn in Finland. A on one particular staircase creative economy. We are try- group of enthusiasts of sailing Sten Westerholm also took in the house – maybe the ing to promote partnerships cargo vessels have decided to the initiative to recreate very same staircase where and a business environment Hoppet av Spithamn save Hoppet for the future. Svenska Folkhögskolan i Carita Pettersson and Ma- for companies capable of gen- Estland – Rootsi Rahvaü- rina Kaljurand held their erating welfare and jobs in the Hoppet and other sailing ves- likool Eestis (the Swedish speeches at the celebration Baltic Sea region by using in- is given new life sels built in Estonia and other college in Estonia for adult of the 92nd Anniversary of tellectual property, concluded places around the Baltic Sea education) and was its the Republic of Estonia… Headmaster 2001–2006. Carita Pettersson her wel- Estonia’s Swedish-speaking population was a often didn’t survive more than come speech. 30 years. That was according sea-faring people. The land along the coast line to plans and the captain would As an author Sten Wester- Marina Kaljurand represented the Estonian State at and on the islands in northern and western Esto- already have the next boat holm has written several this year’s reception. She is Undersecretary for For- nia is barren and only suited for limited farming. under construction as his ves- books, the two latest on the eign Economic Relations and Development Aid at the sel’s thirtieth anniversary came Estonian-Swedish districts Ministry of Foreign Affairs, Estonia’s Ambassador, closer. The masts and rig from in Estonia and the last sur- non-resident, to Kazakhstan and also Estonia’s Chief It was the women who cultivated the earth and took the old boat would be reused viving Estonian-Swedish Negotiator on accession to OECD. care of the animals. The men built ships and sailed with while the remainder would be built cargo vessel; Hoppet the products that the women had produced, mainly po- chopped up. av Spithamn. www.meritonhotels.com The fi rst 92 years 27 Being more than 80 years old Hoppet’s hull has outlived its life. But the old hull has been a standing model for Four vintages the rebuilding work and fresh wood details have been put in place piece by piece. Hoppet is an exact replica of the original ship, only much better and stronger. Chateau Kirwan at

Hoppet’s new hull is now almost ready for the sea and has been under construction since three years in Restaurant Dominic Loviisa, Finland. The hull will be launched to the sea June 15th this year and works with the interior and navi- gational equipment will follow. Meanwhile her rig is While cleaning up my mailbox one day constructed in , Åland and smith works are La Cave in February, I noticed an old invitation to done at Skeppsholmen in Stockholm. a Chateau Kirwan tasting at restaurant The rebuilt Hoppet av Spithamn will be fully ready for Dominic in Tallinn. I checked my the sea in the spring 2011 and her maiden voyage will calendar and yes, I was free. A fast call to go to Estonia and Dirhamn, located on the other side of Spithamn’s head where she was originally built. my wife and after confi rmation from her we were soon in a taxi and on our way. The future The main wines for this eve- of spices comes into my mind. It The Focus Point – FP System ning were four Chateau Kir- is clearly a full bodied vintage wan from the vintages 1999, with fi ne tannins and a delicious Investing in 2000, 2003 and 2004. long fruity aftertaste. I would wine give this wine 91/100 Focus Together with the entry course Points and the vintage is mature fi let of Duck with green salat, now. balsam vinegar, parmesan- onion crispy chips and black- currant sauce we fi rst tried the 1999. The fi rst thing that hit my nose is the oaky fragrance that Fine and vintage wines nev- er fi le for bankruptcy and a FP 96-100: fi nds its way up through the case of a fi ne vintage might An extraordinary wine of pro- Spiegelau-glass. It is very aro- very well be a profi table found and complex character matic and modern styled with a alternative to investing in displaying all the attributes deep ruby color and it has a con- shares on the stock market. expected of a classic wine But, it takes knowledge to of its variety. Wines of this siderable size, depth and muscle be successful. caliber are worth a special which indeed are unusual for the effort to fi nd, purchase, and • Invest in the best wines consume. 1999 vintage. After some time in The plan is to have Hoppet sailing the Baltic Sea again. available in the world and the glass the wonderful aromas these are to 90% Bordeaux FP 90 - 95: And not only there, but also in bigger waters as a sail- of cassis and berries, with hints wines, says Ole Nielsen, An outstanding wine of excep- ing training vessel and as a living storyteller of times CEO at the wine broker tional complexity and charac- WineFinder. But, out of more past. ter. In short, these are terrifi c than 7.000 wine producers wines. in Bordeaux only some 50 Most of the wood for the new hull comes from the wines are considered inter- FP 80 - 89: esting. forests east of Helsinki and was donated by the for- A barely above average to very With the starter we also had the good wine displaying various est owners Svenska Litteratursällskapet and Svenska 2004 Chateau Kirwan and this What wines and what vin- degrees of fi nesse and fl avor Kulturfonden. The oak wood for the stem come from tages the market considers as well as character with no vintage has still to remain in the interesting is a matter of in- the domains of Burs vicarage on the Swedish Baltic Sea noticeable fl aws. bottle. It was too young now and fl uence. The American wine island Gotland. kind of a sleeper at this stage. specialist Robert Parker FP 70 - 79: and his newsletter The Wine An average wine with little But without doubt a great vintage Advocate has become one of Restoring a vessel of Hoppet’s size is a big and expen- distinction except that it is a that just needs more time. The several renowned authori- soundly made. In essence, a sive task, but we have come so far in rebuilding her that dense purple color is accompa- ties. An increased global in- straightforward, innocuous we can safely say: Hoppet will sail again. terest, especially from Asia, wine. nied by aromas of fl owers, black makes Parker’s opinions cherries, cassis, licorice and a duly noted on the interna- FP 60 - 69: However, donations are required to secure her future small amount of oak, but much tional market. and more information on Hoppet av Spithamn is found A below average wine contain- ing noticeable defi ciencies, less oaky then the 1999. After The Liv-ex 100 Fine Wine on her own website; www.hoppet.fi . such as excessive acidity and/ keeping it some time in the glass Index is considered a bench- or tannin, an absence of fl a- the aromas of cedar and black mark and represents the vor, or possibly dirty aromas price movement of 100 of the or fl avors. currants become more notable. Text: Sten Westerholm most sought-after fi ne wines I would say that the wine is me- for which there is a strong FP 50 - 59: Photos: Maj-Len Westerholm dium-bodied with a good under- secondary market. A wine deemed to be unac- ceptable. lying acidity and moderate 28 La Cave 28 29

pered for making the sauce tannins. The maturity of this béarnaise and the Chateau- wine is defi nitively 15 years briand. The red wine sauce The quality of vegetables and ahead. 88 Focus Points now, Dinner for six fruits is often questionable in was more or less ready – it’s but with potential to grow. amazing to witness a bottle the shops and keeping an extra Imagine inviting friends for dinner at your home of red wine being reduced in critical eye on what you put in The main course was lamb without cooking yourself. Contacting a catering the pot to a nice sauce with the shopping cart is recom- carré and fi let with a spicy company is of course one option, but I recently a discrete sweet taste mixed mended. Getting tender beef risotto accompanied by goat went for another alternative. up with the fl avor of spices is also somewhat adventurous The majority of the index cheese/pumpkin pure with and herbs. here. I preordered the beef in consists of Bordeaux wines grilled vegetables in Bor- Viimsi’s Lihapood and think the (91% red and 1% white) - a refl ection of the overall deaux sauce. It was very And, our fi rst dish this outcome was totally ok (though market, although wines from interesting and we started evening was also ready to be a Swedish friend of mine mut- Burgundy (3,6% red), the off with the Chateau Kirwan tered something about the need Rhone (0,3%), Champagne served; the amuse-bouche, (3,4%) and Italy (0,7%) are vintage of 2000. 2000 was a a hors d’œuvre made of for Östermalmshallen in Stock- also included. great year in Bordeaux al- trout roe on a bed of red on- holm for getting real tender though not as good as 1961, beef). Just like the stock exchange ion and sour cream mix on there are ups and downs on 1982 or 2005, but still clearly the top of a piece of Tuscany the wine market. Johan Mag- one of the better years of bread and decorated with a We had quite an extensive din- nusson, operating the wine the last 50 years. Kirwan’s ner menu and I used the left- cellar Magnusson Fine Wine piece of lemon. in Stockholm, provides some vintage 2000 is a full-bodied, over’s of the Chateaubriand for comfort for the downs: dense, chewy wine, which We had a Riesling to the Boeuf Bourguignon the follow- is very unusual for Kirwan. ing day. • You can always drink and amuse-bouche and contin- enjoy the wine if the invest- The black/purple color is ued with that wine for the ment turns out to be a fail- followed by a chewy, concen- In action; Chef de Cuisine et Sommelier Jaanus Vabi appetizer which was tiger Any disadvantages with the ure, says Johan Magnusson. trated persistent effort with prawns marinated in sweet concept? Jaanus Vabi is an experi- terrifi c ripeness. I can smell and sour Thai sauce, quickly enced chef and sommelier cassis, wood and tar. Defi nitely a wine with potential fried in a hot pan and served Well, you are left with the dish- working with SCCE’s mem- The concept which will not suffer from yet some 10 more years in the with green salad and a fruit es and an aftermath support of ber Veinipood. In addition bottle. 90 Focus Points from me. salsa. Jaanus used kiwi, either an enthusiastic family or to giving advice and selling Outsourcing the cooking tasks pineapple, pears, chili pep- a cooperative dish washing ma- wines, Jaanus also offers for a dinner in your home is a Last but not least, the 2003 and my clear winner of the pers and strawberries for chine is recommended. his services as chef in your straight forward and simple evening. A real beauty! Blackberry, Indian spice and the salsa. own kitchen. concept. dried fl owers plays in your upper organs when tasting The chef and sommelier Jaanus this wine. It is extremely silky and fi lls your mouth with Chateaubriand was our main Vabi can be contacted on e-mail: Outsourcing the cook- Following an agreement with pure well caressing fi nish. Sweet tannins and ruby/pur- course and was served on [email protected], ing tasks was tempting so Jaanus Vabi on the menu and ple-tinged effort. Medium-bodied with plenty of sweet a bed of vegetable Julienne tel: (+372) 58 163 996. I invited Benno and Reidi the selection of wines, I made tannin in addition to low acidity. An impressive struc- with red wine sauce at the Strandberg, Hillar Lauri and the shopping and the only thing ture! 94 Focus Points and to appreciate the greatness of side and béarnaise sauce Tiina Makarov to try out the Jaanus brought himself was his the 2003, you should of course try it together with some on top. Cucumber, carrot, apple, radish and caulifl ower concept. own two kitchen knifes and a other vintages to get the understanding and feeling for formed the basis of the Julienne. this great wine. sharpener. Jaanus arrived a couple of We had Pomerol and a simpler, but very good Bordeaux hours before our guests and The dessert was a Peach crème brulé with Blue Cheese table wine to the Chateaubriand – an interesting combi- started up by preparing the ice-cream! Excellent combination especially with a 2007 nation clearly illustrating the differences between wines. Sauternes from Maison Schröder & Schyler. 80 Focus more time consuming parts of the cooking. A basic idea is Points! Apple cake with ricotta cheese topped with almonds was actually that as much as pos- served for dessert and the evening was rounded up with sible of the cooking should Dominic is a great restaurant located opposite Telegraaf coffee and a selection of Grappa, Cognac and Armagnac take place when everybody Hotel on Vene Street 10 and has real enthusiasts like for the avec. Sommelier Imre Uussaar and Chef Allar Oeselg. Highly has arrived. That gives a din- • Cutting ingredients should ner arrangement like this a just be a smooth process of cut- recommended with a very good wine list for Tallinn cir- In addition to a very good dinner, I believe I can say that certain kind of togetherness ting and not a fi ght, said Jaanus. cumstances. all of us enjoyed the evening. The concept of following a as all can follow what’s going chef in action in the kitch- on in the kitchen, questions Pots, pans, bowls, plates, en worked as a beautiful are answered and cooking glasses and other hardware re- Report: get-together ingredient in tips given. sources are to be provided from Anders Hedman our dinner for six. your own collection and you As our guests arrived vegeta- should be prepared for Jaanus Reporting from the kitchen and bles and fruits were already entrance in the kitchen domain dinner table (but not from the cut and mixed. Eggs and a couple of hours before the cooking stove): beef had been taken out of guests arrive. Kristiina Sikk the fridge to be room tem- 30 31

• Both members and politicians value the trade unions’ Estonian transit activities for protecting the workers’ interests, said EAKL’s Chairman Harri Taliga in a comment. However, cargo trade newsflashes newsflashes all expect more activity from us, and our members and Estonian workers in general expect us to achieve higher salaries. “China and Estonia are separated by just one country”, Stockholm Vision 2030 is a construction project involv- - 6,4 million pas- said President Toomas Hendrik Ilves as he met the Chi- ing the area around the Stockholm ports Värtahamnen sengers traveled Of the non-members interviewed in the study, 23% said nese vice Prime Minister Zhang Dejiang in November and Frihamnen, both well known for ferry passengers between Helsinki they would be prepared to join a trade union if there last year. from Estonia and Finland. More than 12 million pas- and Tallinn in 2009, was any in the company they work for. But almost as sengers per year are arriving to Stockholm by sea and apparently a Euro- many said that they do not see any good in joining a “Estonia could serve as one gateway for China to the they are estimated to spend some 5,5 billion SEK in the pean record, said trade union and another 18% have never thought about European Union, but also toward the south”, continued capitol city. Stockholm Vision 2030 aims at providing Helsinki’s Mayor it. Only 3% quoted opposition by the employer as the President Ilves. a further development in terms of 10.000 new apart- Jussi Pajunen in reason for not joining a trade union. ments, 30.000 work places as well as increased and im- a February 2010 proved infrastructure facilities for shipping, commerce statement. Tallinn and trade. and Helsinki ac- count for close to • As for Värtahamnen and Frihamnen, Stockholm Vi- two million inhabit- Passenger spaceflights sion 2030 will result in a living city district close to the ants totally and the sea and will also contribute to a more environmental rail tunnel and the from Sweden friendly development of the shipping and land infra- Rail Baltica proj- structure compared to the present Stockholm port fa- ect is a question of A Eurotunnel cross section shown at the As Sir Richard Branson and 800 guests witnessed the cilities launched in1870, says Henrik Widerståhl, acting whether we want to National Railway Museum in England December roll out of the Virgin Galactic SpaceShipTwo Managing Director of Ports of Stockholm operating the be in the heart of Eu- at the Mojave Spaceport in California, plans for com- ports in Stockholm, Kapellskär and Nynäshamn. rope or remain provinces in the outskirts. mercial passenger spaceflights from Spaceport Swe- den were also revealed. A greater Stockholm District Court of the Environment Local decisions on the feasibility study for the rail tunnel Located 17 km east of Tallinn, Muuga Harbor is the big- has however ruled out most of the basic plans and Ports are expected in 2011 and the project involves 70 – 85 km Virgin Galactic’s gest cargo harbor in Estonia and is now in the process of Stockholm are now in the process of appealing the of tunnel, an additional 10 km of rail infrastructure on space ships seats of a second major phase of development. ruling. land and the construction time is estimated to last for 20 six passengers and years. two pilots and their Called ‘Muuga Harbor Intermodal Facilities’ the project space flights will involves further development of the eastern extension As a comparison Eurotunnel, the English Channel rail take the people on- of the harbor including reclamation of 43 ha of new tunnel opened for traffic in 1994, is 50,5 km long and board up to space in hinterland area, provision of utilities networks, and took 6 years to build. The total cost was £ 4.650 million, a ballistic trajectory construction of a 2 km long access road. The additional equivalent to appr. £ 10.152 million today. As the first reaching an altitude hinterland area will be used for building a railway mar- idea on this tunnel appeared in 1802, it took 186 years of 110km – more or shalling yard handling containers and a road connection before the final construction works began. less ten times higher then we fly in today’s passenger between the industrial free-zone park and the container jets. From launch to touch-down a spaceflight will last terminal area. It will also host additional general use for approximately two and a half hours. Virgin Galactic and storage areas as well as loading and waiting areas has chosen the Mojave Spaceport and Spaceport Swe- for trucks. Useful but weak den in Kiruna as their two sites for launches. Total costs are estimated to EUR 23.3 million and EIB • Sweden has been very welcoming and enthusiastic – the European Investment Bank is expected to finance Estonians consider trade about our project and I am hopeful that we could start to the project with EUR 11.5 million. unions as useful but weak ac- launch spaceflights from Spaceport Sweden soon after cording to a recent study com- our first launches from the US Mojave Spaceport, said Muuga Harbor is handling 90% of the transit cargo missioned by EAKL - the Con- Richard Branson at the roll out ceremony. volume passing through Estonia and 80% of the total federation of Estonian Trade cargo volume of Port of Tallinn. Close to 75% of the Unions. Spaceport Sweden, located to Kiruna in the very north- cargo loaded at Muuga Harbor includes crude oil and ern part of Sweden, is a co-operation between the oil products, with dry bulk - mostly fertilizers, grain 67% of the respondents in the Swedish Space Corporation, the IceHotel in Jukkasjärvi, and coal – and other types of cargo accounting for the study considered trade unions Kiruna Airport and Kiruna’s business-development remaining volume. weak, and 14% downgraded the company Progressum, with the aim to be a world lead- unions to very weak while no ing spaceport actor and Europe’s first and most obvious respondent went for very strong place for commercial spaceflights. Talsinki as their evaluation option. Stockholm Vision 2030 Despite a decision by the EU Regional Development • We have space competence and the infrastructure Fund Interreg, not to support a feasibility study of a rail However - at the same time needed through the Esrange Space Center being in op- In twenty years central Stockholm is expected to have 1 tunnel between Tallinn and Helsinki, talks on the proj- 83% of the respondents being eration close to Kiruna since more than forty years. million inhabitants and the greater Stockholm area 3,5 ect are still ongoing between the two cities’ Mayors, members of a trade union found Additionally we can offer northern lights, midnight sun, million people living and working there. Edgar Savisaar and Jussi Pajunen. their membership useful. Europe’s last remaining wilderness and an ice hotel 32 – that’s not a bad package, says Spaceport Sweden’s Successful Johanna Bergström-Roos.

Spaceflight ticket prices? meetings & events • The starting price for flights is $ 200,000 per pas- newsflashes newsflashes guaranteed senger with refundable deposits starting from $ 20,000, tax rate. The top says Virgin Galactic. income tax rate Contingency plans is effectively 57% The first ticket to a Swede was sold in February this percent, and the Having been NATO-members since 2004, Estonia, Lat- year and the first spaceflight from Spaceport Sweden is corporate tax rate via and Lithuania will this year see discussions on for- planned to take off in 2012. is 26.3%, reduced mal NATO contingency plans take shape for the defence from 28% percent of the three countries. as of January 1st, 2009. Total govern- • The Baltic States will get their plans, probably ap- ment expenditures, proved by NATO’s military side rather than its political Economic freedom including consump- wing, wrote The Economist’s columnist Edward Lucas in tion and transfer a recent article. The contingency plans will be presented For over a decade, The Wall Street Journal and the payments, are very as an annex to existing plans regarding Poland, but with Washington based think tank The Heritage Foundation, high. In response an added regional dimension. That leaves room for Swe- have tracked economic freedom around the world with to the global crisis, den and Finland - not members of the NATO alliance but their Index of Economic Freedom. Sweden undertook increasingly close to it - to take a role in the planning too. one of the largest The Index covers 10 freedoms – from property rights to fiscal stimulus programs in all of the European Union, entrepreneurship – having been measured in 179 coun- estimated at 6.6 percent of GDP. tries 2009. Estonia is ranked as number 16 and Sweden as number 21 on the list.

Rank Country Overall Score 2009 Getting a job 100 % Professionalism, 1. Hong Kong 89,7 The Swedish text-analysis company Saplo has studied Photo: Gripen International Committed and Caring – Guaranteed, 2. Singapore 86,1 more than 1.000 job ads to find out what kind of qualities that’s our Meeting and Events Promise. employers are looking for these days. Two Swedish manufactured Gripen Fighters from the Czech Air Force 3. Australia 82,6 air-policing Baltic airspace in 2009 as part of the NATO air defence Radisson BLU Hotel has one of the most flexible and largest conference Four qualities turned out to be most frequent in the job Quick Reaction Alert task and banqueting facilities in Tallinn. 14 well-equipped meeting and conference 9. Denmark 77,9 ads studied: rooms of various sizes are located on the 2nd and 24th floor. Estonia’s Defense Minister Jaak Aaviksoo said that a 16. Estonia 74,7 Structured trend was gaining ground in NATO to involve also non- Taking own initiatives members, such as Sweden and Finland, in the regional Radisson BLU Hotel, Tallinn 17. Finland 73,8 A minimum of personal prestige defense plans. Sales oriented conference package: 21. Sweden 72,4 • We’re talking about the next step in enhancing our • Having these qualities is one thing, highlighting them defense capability, said Jaak Aaviksoo in a comment. Rent of the conference room for 8 hours 29. Lithuania 70,3 in a job application is quite another story, said Saplo’s These regional defense plans are based on evaluations Screen, data-video projector, papers, pens, of concrete risks. Manager Mattias Tyrberg. flip- chart and ice-water in the conference room 37. Norway 69,4 • Getting a job in times 2 coffee breaks 50. Latvia 66,2 like these when the com- Buffet Lunch petition for getting a va- VAT 179. North Korea 21,4 cant position is extremely The EU’s Baltic Sea Free WiFi sharp, requires that people are brave enough Strategy • Estonia is ranked 7th out of 43 countries in the Europe to market themselves. A Conference package rate 29 EUR/per person different set up of the CV, region, and its overall score is well above the regional • Since the EU enlargement 2004, *This offer is for new reservations only and upon availability. maybe with photos from and world averages, says the Index of Economic Free- challenges facing the Baltic Sea Package is available started 20 to 50 people. dom. Estonia has relatively low tax rates and total the past career, might Region have increased. Escalat- government expenditures, including consumption and work. And, writing a personal and less formal applica- ing environmental threats, gaps in transfer payments, are moderate. tion definitely helps. economic development and poor For further information and bookings please contact: transport accessibility are issues Ph: +372 682 3500 • Sweden’s score has increased by 1,9 points since last which need to be tackled urgently, E-mail: [email protected] year, comments the Index. The country has a very bur- says the EU. densome income tax rate but a moderate corporate Under the Swedish EU Presi-

Rävala pst 3, Tallinn Tel: +372 682 3000 Contributions to from newsfl ashes the members of SCCE, both in terms of editorial content and dency, the Baltic Sea Strategy was endorsed in October advertising, are welcomed. 2009 and it will now be implemented with a stakeholder ’ advertising opportunities forum scheduled for October 13-15, 2010 in Tallinn. At one of our fi rst found mainly in Sweden, Canada including sizes, prices and meetings this year, I and the USA. technical requirements are Following her Febru- was encouraged by the SCCE Photo: available at our website: nd Council to continue my Swe dish Judging from e-mails, phone calls ary 2 appointment as Roland Karlsson www.swedishchamber.ee Sweden’s new Minister language studies. and other contacts, I believe I can say that we are witnessing an for EU Affairs, Birgitta Though I have Estonian-Swe- economic change for the better If you haven’t already done it - Ohlsson and Estonia’s dish roots from the Noarootsi/ starting to take place now. The please do put us on the mailing Minister of Foreign Af- Nuckö area and though I am international interest for Estonia list for pressreleases, articles fairs Urmas Paet got living together with a Swede, I and the business opportunities as well as your point-of-view on a chance to meet in can’t say that Swedish has been we can offer is growing. And the issues of general interest for the Brussels a few weeks a second, third or even fourth spirit of Estonian entrepreneur- commerce and trade between ship has started to blossom again. later. language of mine through the Estonia and Sweden. years. • The successful As it has been through the years, However, some years back I a good part of this interest is com- Latest news on SCCE events start of the Baltic Sea picked up Swedish language ing from, and is also directed to, to come and fresh reports on Strategy shows that studies at Svenska Folkhögs- Sweden. events passed are always found regionally based strat- kolan in Tallinn (and I am happy at www.swedishchamber.ee and egies will grow in im- to note that Folkhögskolan’s English will remain the offi cial lan- you can reach me for further portance in the future, headmaster at that time, Sten guage of the Swedish Chamber of information at email: said Birgitta Ohlsson Westerholm, contributes with an article in this issue of ). Commerce in Estonia. Though our [email protected] These studies combined with some conversations in Swedish at main focus is on Estonian - Swe- and Urmas Paet in a Birgitta Ohlsson, or by phone: (+372) 501 9813. home did me well. Though I am not so keen on speaking Swedish dish commerce, trade and invest- joint statement. Sweden’s Minister for EU Affairs publicly yet, I can at least follow a Swedish conversation and get ments, our members represent the general picture of the content. not only Swedish and Estonian • Estonia is focusing on three areas within the frame- nationalities but several work of the Baltic Sea strategy, namely marine environ- I got a bit surprised others as well and English is ment and navigation, improved interconnections linking myself over the ability a way for us to unite linguis- together the Baltic Sea region, and the further develop- to understand Swedish tically. However, I intend to ment of knowledge based society, said Urmas Paet. as I suddenly just had to further improve my Swedish read two books in Swed- language skills and hope Birgitta Ohlsson visited Tallinn in the beginning of ish last summer. Two that the outcome will be March and got a further opportunity to discuss the friends gave me the fi rst mutually benefi cial, both for Baltic Sea Strategy with Estonia’s Ministry for Foreign book in Stieg Larsson’s SCCE’s members and me. Affairs. Her Tallinn program focused on environmental Millennium trilogy as it Connect emission-free just had been published March has just started as I write this. The Olympic Winter issues and included a couple of study visits; one of them in Estonian translation; ‘Lohetätoveerin- Games in Vancouver are over and offered many late evening at Ragn-Sells, where Birgitta Ohlsson took a closer guga tüdruk’ (Swe: Män som hatar kvinnor). excitements in front of the TV. The winter has held us in a fi rm power to the grid? look at the company’s waste management contributions I quickly realized why this trilogy had sold grip for a good number of weeks by now and though I am of the for the development of an eco-cycle economy. more than 12 million copies worldwide, and opinion that winter and snow goes together, I think that a Swe- why Stieg Larsson was the second bestsell- dish saying is appropriate; Lagom är bäst! (appr. in this context: ABB is helping construct the world’s most remote ing author in the world 2008. I just had to a moderate amount is best!). offshore wind farm. Using our eco-friendly transmissi- read the two remaining books immediately! on technology, this 400-megawatt plant is expected Since my man had them in the bookshelf, I SCCE has several interesting seminars, business lunches and to avoid 1.5 million tons of CO emissions per year picked them down and started to read - in events coming up for the spring and I look forward to seeing 2 Swedish. It went surprisingly well and was you, both old, new and members to be, at our upcoming activi- and improve the reliability of the power grid. It’s just probably good for my self confi dence too, as I didn’t have to ask ties. one of the ways that we, as the biggest supplier of for translation support that often. electrical products and services for the wind industry, I hope you enjoy reading this issue of can use renewable power sources to help combat Compared to the three biggest languages in the world, Chinese focus and latest news on SCCE events to climate change. www.abb.com/betterworld (Mandarin), Spanish and English; Swedish and Estonian are ex- come and reports on events passed are tremely small languages. It is estimated that Swedish is spoken always found at: by some 10 million people around the world. This fi gure includes www.swedishchamber.ee. Sweden’s 8 million natives, 1,1 million immigrants to Sweden, some 300.000 people in Finland and some 70.000 descendants to Swedish emigrants in the USA. And, it shouldn’t be forgotten Sincerely, Naturally. that Swedish is, though to a small extent, still spoken in Estonia, mainly in the Noarootsi area. An equal estimate for Estonian ac- Kristiina Sikk counts for the language to be spoken by some 1,1 million people SCCE Ombudsman around the world; 950.000 people in Estonia and the rest being Rein Leipalu, Managing Director, Ragn-Sells Estonia