ARTICLE
7 January 1997

Basic Facts About Estonia

KC
Käosaar & Co

Contributor

Estonia Intellectual Property
GEOGRAPHY

Estonia is situated in North-Eastern Europe on the southern coast of the Baltic Sea. Here lie the cross-roads of the trade routes from Western Europe to Russia, and from Northern Europe to Central Europe.

TERRITORY

The territory of Estonia is 45215 square kilometres

MOST IMPORTANT TOWNS:

Capital - Tallinn; other important towns Tartu, Parnu, Narva, Kohtla-Jarve

STATEHOOD

Estonia is an independent parliamentary republic. The Constitution was adopted on June 28, 1992. The President is the Head of state. In 1996 Lennart Meri was elected as President for his second term of office. The executive power rests with the Government of the Republic (Prime Minister and up to 14 other ministers).

CURRENCY

The official currency of Estonia is the Estonian Kroon (EEK). Since 20th June 1992 the fixed rate is 8 EEK is 1 DEM. Any change in the exchange rate of the kroon against the Deutche Mark must be approved by Estonian Parliament.

There is no restrictions on current account transactions.

FOREIGN TRADE

Estonia has established a liberal foreign trade regime with virtually no tariff or non-tariff barriers. The most important trade partners of Estonia are Finland, Sweden, Germany, Russia.

Estonia has Mutual Investments Promotion and Protection Agreements with the United States, Denmark, Finland, Sweden, France, Norway, Netherlands, Germany, Switzerland, Poland, China, Israel, Great Britain, Austria.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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