According to Minister of Economy Evaldas Gustas, it was planned to appropriate LTL 14.5 million (EUR 4.2 million) under the measure New Opportunities. However, taking into consideration recent situation, the figure has risen and LTL 27.7 million (EUR 8 million) will be distributed from the European Union structural funds to finance participation of businesses in international exhibitions and fairs.
Lithuanian Business Support Agency's (LVPA) project selection commission has recommended the Ministry of Economy to allocate LTL 27.5 million (EUR 7.9 million) for 256 projects. Funds should reach businesses in September.
Companies plan to attend more than 1,200 exhibitions. According to Minister Gustas, approximately 90% of them will participate in exhibitions in Germany, Great Britain, Ireland, France and other countries. Only 10% of entities intend to participate in exhibitions in Russia.
Companies that will visit exhibitions in Russia will mostly participate in transport, textile and IT sectors' exhibitions. Meanwhile, food sector exhibitions constitute only around 12% of exhibitions planned to be attended in Russia.
A total of 5 calls for proposals have been announced under the measure New Opportunities – 813 agreements worth LTL 111 (EUR 32.15 million) million have been signed.
