The President pointed out that both countries, Lithuania and the United Arab Emirates, linked their future with innovation and progress. Lithuania's dynamic business sector has much to offer to the Emirates aspiring for global leadership in innovation. Growing mutual interest and expanding business contacts help to maximize the potential of both countries and create general welfare for their people.
A business delegation from the Emirates representing information and communication technologies, food industry and other strategic economic sectors will visit Lithuania next week. Lithuania will participate in EXPO 2020 DUBAI where it will display the most advanced solar, laser and life science technologies. This offers new opportunities for Lithuanian businesses to secure their position in the UAE market - a priority market for Lithuanian exports, which also serves as gateway to other Gulf states and North African countries - and to attract more investments from the Emirates.
The Emirati Minister of Economy recalled the President’s visit to Dubai in November when the required certificates for Lithuanian food exports were finalized. Now Lithuanian businesses can gain a stronger foothold in the Emirati market. Last year, Lithuanian agricultural and food exports to the UAE amounted to 15 million euros.
Among the other issues addressed at the meeting were prospects for setting up an intergovernmental commission on economic cooperation, which would help to expand close economic dialogue between the two countries. Options were discussed for opening a direct flight between Vilnius and Dubai.
The United Arab Emirates is the second biggest trade partner of Lithuania in the Gulf region. Bilateral trade has increased fivefold over the last five years and currently amounts to 136 billion euros. The Lithuanian expat community in the Emirates is the largest in the region. During her visit to Dubai, the President gave an official start to the Lithuanian Business Association.
