Prime Minister Jüri Ratas opened the London Stock Exchange, one of the largest and oldest stock exchanges in the world.

“Today, I had the honour of ringing the opening bell at the dignified London Stock Exchange and urging traders and entrepreneurs to look into investment opportunities in digital economy, including those in Estonia,” Ratas said after the opening ceremony of the stock exchange and the meeting with the board. 

Ratas noted that digitalisation is currently shaping world economy and affecting trade, much like the industrial revolution did in the past. According to Ratas, Estonia’s capability for research and development in the field of information technology is well illustrated by success stories, such as Fortumo, Guardtime, Skeleton Technologies, Starship Technologies, Skype, and Transferwise.

Ratas highlighted digital signatures, cross-border digital identities, 5G infrastructure, invisible e-governance of the new generation, and the unique e-residency programme as the technologies and trends of the future. “After the referendum on Brexit, the interest of British people in our e-residency grew exponentially. As at the end of January, more than 1,500 e-residency applications have been submitted from the United Kingdom and e-residents have established about 120 new companies without leaving their home country,” the prime minister brought an example.

The prime minister also urged investors and entrepreneurs to use the open and flexible entrepreneurial and legislative area of Estonia to test and develop new technologies, such as artificial intelligence and self-driving vehicles.

Although there is definitely room for growth in the trade in goods between the United Kingdom and Estonia, the relative importance of exported services is greater – in 2016, the UK was the sixth largest export country of destination for Estonia. Approximately 40 Estonian businesses are based in London. The most active among those are start-ups, who remain interested in the British market.

At midday, Ratas will meet with Theresa May, prime minister of the United Kingdom, and Boris Johnson, Foreign Secretary, with whom he will discuss defence issues, the state of security in the world, the development of future technologies, stimulating digital cooperation, and the current issues of the European Union.