cooperation, Estonia primarily supports states to whose development it can contribute with its knowledge and resources and who are prepared to build up their society established on democracy and human rights. Estonia helps to create a free and safe cyberspace in states where the voluntary sector does not have the necessary expertise and technical capabilities. Estonia implements outreach programmes and participates in international peacebuilding initiatives to develop the security and defence sectors of partner states. The aim of Estonia’s defence-related outreach is to help partner states to reform their security and defence sectors. These policies increase security and create stability in areas important for NATO and the European Union, promote democratic values and strengthen the bilateral relations of Estonia and its partners. 3.5 Economic Security and the Supporting Infrastructure The Estonian economy is part of the European and global economy, and is therefore influenced by developments in the international financial system, and energy and commodity economies. The reliability of the economy and economic security are i.a. improved by the development of the country’s electronic communication network and transport infrastructure. These elements have implications on wider security matters. The state of the Estonian economy is dependant on exports to stable and reliable markets, trustworthy foreign investments in the Estonian economy, and Estonian companies’ ability to realise their potential, investing in stable markets that offer growth opportunities. Estonia has a solid, simple and modern legal system for business environment. This increases competitiveness and makes the economic environment more attractive, thus raising the level of reliability of the economy. To sustain the development of strategic and important companies and provide highquality services (in the energy, transport, communications and information technology sectors) the continuous investments should be ensured. Economic security is maintained through defensive measures such as, inter alia, remedies against corruption, tax fraud, tax evasion and tax havens. The stable functioning, transparency and reliability of the financial system must be ensured so that the country and its economy can function properly. Necessary legal and control measures are taken to prevent and resolve international or national financial crises and to alleviate their economic consequences. Funding is provided so that the financial system can function properly and in a stable manner. In securing the stability of the financial system, it is important to prevent problems related to the solvency of credit and other financial institutions present in Estonia, as well as interruptions in payment and settlement systems, and to maintain the ability to eliminate swiftly problems and interruptions that do emerge, should the need arise. In order to resolve financial crises, the crisis management system that involves both national banks and the European Banking Union as a whole, including reserve funding, is needed. It is of the utmost importance in a crisis that liquid assets are available and can be used, and that reliable transnational safety networks are in place—these must be provided by the state. Energy security is ensured by securing infrastructure and supply systems, connection with other power networks of EU member states, and enforcing energy diversity. Increasing energy efficiency is a primary measure for Estonia in reducing dependence on imported energy. Security of energy supply is facilitated by the European Union’s strategy to use and develop its internal energy resources to the maximum. In the case of Estonia, this means the maximum rational use of oil shale and peat, as well as wider use of renewable energy technologies. Working power 15

Select target paragraph3

Connect to a paragraph
Connect to an entity
Disable highlights
Add to table of contents