ABSTRACT
Estonia took advantage of Russia’s internal turmoil in 1991 and promptly declared independence. 1 Since then Estonia has established a market-based economy and shifted trade from the East towards the West. This transformation has been brought about by a number of youthful Estonian entrepreneurs. Indeed, Estonia’s commercial foresight is to be admired as is forges ahead taking full advantage of its geographical location. Superficially it’s location does not appear to be of particular advantage, but Estonia does have the deepest ice-free ports in the region, thereby providing an important international trade route between parts of Europe and Russia. Finnish businessmen dream of making Estonia ‘the Hong Kong of the Baltics’, a view shared by many aspiring Estonians. 2 This, of course, depends on maintaining a good relationship with Russia.
