The Chamber of Commerce of the Grand Duchy of Luxembourg, in close collaboration with the Ministry of the Economy, the Luxembourg Embassy to the Republic of Lithuania and the Luxembourgish promotion agencies, will be organising a multi-sectoral trade mission to Lithuania from October 25 to 27, 2017. The mission will be led by H.E. Mr. Etienne Schneider, Deputy Prime Minister and Minister of the Economy, as well as H.E. Mr. Jean Asselborn, Minister of Foreign and European Affairs.
Not only is Lithuania fully integrated in the EU, but it is among its ten fastest growing economies today. Although being a late adopter of the euro, the accession strengthened the country’s engagement to practical and sustainable economic policies. The gross domestic product of the former planned economy is largely based on a service sector reinforced with educated talents and nearly 100% English proficiency amongst young professionals. Its business sector portfolio is rich in diversity: ICT, life sciences, chemicals, textiles, logistics, renewables, laser technologies, furniture, and the wood/paper industry form just the tip of the iceberg. Take logistics for example: the famous Port of Klaipėda remains free of ice during the coldest winters and thus guarantees uninterrupted navigation. This factor and its geographic situation provide Lithuania an unrivalled advantage and strategic importance in conjunction with the New Silk Road, the multinational economic overland and maritime corridor between China and Europe, likely leading to a national investment boom followed by major infrastructure development, as well as to a deepening of the region’s existing relations with the easternmost part of Eurasia. Lithuania’s digital infrastructure is also developing very well: a worldwide leading broadband speed and one of Europe’s highest fibre penetration are amid the key factors leading to Lithuania’s quick development (download speeds—particularly in urban areas—are among the fastest on the continent). Thinking green is another essential part of the country’s economic policy that focuses specifically on solar batteries and wastewater treatment while promoting research focused on hydro-, wind-, and biomass power.
To further explore the Lithuanian market and its business opportunities, sector specific programs will be organized in the fields of ICT/Fintech, Logistics/Maritime and Cleantech. Every interested member of the Chamber of Commerce of the Grand Duchy of Luxembourg is welcome to participate in the trade mission.
Pre-arranged individual business meetings with Lithuanian companies will be organized as well as an economic forum.
For further information about this upcoming mission, feel free to contact the team of the International Affairs (contact persons: Steven Koener 42 39 39 – 379 & Diana Rutledge 42 39 39 – 335; lithuania2017@cc.lu).