According to the minister, three major market groups were identified after econometric analysis of strategic documents and ten countries of focus were distinguished: Sweden, Germany, Norway, the United Kingdom, Ukraine, France, the USA, China, Israel and Japan.
The Ministry of Economy has revised markets included in the exports guidelines striving to mitigate losses arising from the goods embargo imposed by Russia and in order to diversify Lithuania's exports.
"Seeking to consolidate in priority markets, institutional measures must be activated and intensified. Joint and coordinated actions are needed. This would create opportunities to gain greater market share in the existing markets or to enter new ones. Consolidation in priority markets would also contribute to boosting exports and attracting investments in Lithuania. All markets are important to Lithuania at the moment, however, the ones selected would bring a greater return for the state," said Gustas.
According to the economy minister, markets were classified as priority ones after assessing their expansion potential, purchasing power, market weight, Lithuania's competitive position and market share reserve, as well as the need for small and medium-sized enterprises. The final list of the markets and the measure plan to be implemented will be approved by the Economic Diplomacy Council.
Seeking to promote the search for new business markets and business partners, the European Union (EU) structural funds for 2014-2020 have been invoked as well. Based on the call for proposals of New Opportunities LT, 17 projects submitted by business organisations have been approved and at the final evaluation on 24 August it was decided to allocate EUR 4.22 million for the implementation of the projects. Currently, the implementation plan of the instrument Business Cluster LT is being harmonised, possible partners and members of a business cluster – micro, small and medium-sized enterprises – are being enlisted.
Based on another 2014-2020 EU structural fund instrument Expo Certificate LT, it was decided to increase the amount of the call for proposals to EUR 1.15 million and allocate funding to a total of 36 projects. In September, 26 funding and administration agreements worth EUR 812 thousand were signed with the applicants.
Since interest rate compensation instrument was launched to the end of August 2015, businesses were compensated EUR 17.25 million of interest. 4,959 small and average-sized enterprises received compensations.
Helping Lithuanian producers to entrench in new markets, Lithuanian goods were introduced abroad in August and September. Lithuanian goods produced by dairy companies Zemaitijos Pienas and Pieno Zvaigdzes as well as confectionary company Ruta and other companies were introduced during the EU Days in Baku, Azerbaijan. Lithuanian food products and drinks were presented at the traditional Azabu Juban food and tourism festival in Tokyo, Japan. Lithuanian food products were also presented at the Lithuanian embassy in Japan and at the international fair Jata Expo Japan.
Representatives from the General Administration of Quality Supervision, Inspection and Quarantine of China visited Lithuania twice in August and September. Lithuania aimed to receive a permit to export cattle and dairy products to China. The Chinese institution favourably evaluated Lithuania's control system and noted that there would be no obstacles to export cattle and dairy products. The necessary protocols are expected to be signed in China in November.
Finally, in order to help farmers, questionnaires and certificates were prepared regarding grain and beef export to China, poultry product export to Taiwan and egg product export to the United Arab Emirates.
