Riyadh: The General Authority for Small and Medium Enterprises (Monsha’at) signed a cooperation agreement with the Estonian Business and Innovation Agency at the Biban24 Forum. The agreement was finalized by Monsha’at Governor Sami bin Ibrahim Al-Hussaini and Piret Sauter, the regional director for distant export markets at the Estonian agency.

According to Saudi Press Agency, the collaboration between Monsha’at and the Estonian Business and Innovation Agency aims to enhance research-and-development projects involving startups and research centers from both countries. The partnership is set to facilitate the exchange of best practices in supporting innovation and entrepreneurship. Additionally, it will implement growth acceleration programs targeting high-potential companies to improve their productivity and competitiveness on a global scale.

Sauter expressed enthusiasm about the partnership, stating, “This partnership opens valuable opportunities for entrepreneurs in both nations, enhancing collaboration i
n technology and innovation to boost productivity and global competitiveness. We are excited about the innovative projects that will emerge from this partnership.” The agreement further seeks to utilize Estonia’s expertise in training and mentorship programs to support and empower Saudi Small and Medium Enterprises (SMEs).