"Along with lasers, biotechnology and engineering, robotics and artificial intelligence are the areas where we see the most prospects for active cooperation and investment between the two countries. Lithuania has great potential in robotics and artificial intelligence, we have world-class companies, and cooperation in these areas can be mutually beneficial," said Deputy Minister of the Economy and Innovation K. Žemaitis.
He said that 67 foreign-owned companies are using some type of robots in the manufacturing sector in Lithuania, and another 98 companies are planning to invest in robotics in one way or another in the coming years. Moreover, one of the strategic directions of Panevėžys is to become a robotics hub in Lithuania.
The meeting discussed whether the increased demand for robotics and artificial intelligence solutions in the European Union could lead to the need for another factory in Lithuania. Fanuc has direct investments in two countries in Europe: France and Luxembourg.
"Japan is included in both Lithuania's priority markets for foreign direct investment and priority markets for exports and innovation cooperation, and our country considers Japan to be one of our key partners in the Asian region. We hope that mutual cooperation between our countries' companies will boost high-tech development, research and exports," said K. Žemaitis.
Fanuc, founded in 1972, has an annual turnover of around EUR 6 billion. It supplies manufacturing automation products such as industrial robots, digital control systems and other products to manufacturing companies worldwide.
The robotics giant, one of the world's top 10 robot manufacturers, has already partnered with Elinta and other Lithuanian robotics companies and is setting up an office in Lithuania.
Last year, Japan ranked 37th among Lithuania's 207 trading partners. Trade between Lithuania and Japan grew by 10% last year to EUR 166 million.
