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The President Of Lithuania Emphasizes The Importance Of Attracting Foreign Investment

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Economic diplomacy must contribute to building the future of Lithuania






Monday, May 16, Vilnius – Lithuania President Dalia Grybauskaitė met with Lithuanian diplomats working in the field of economy to discuss national economic diplomacy priorities.

“Lithuania is a global market player. Slowing growth in developing economies, international security challenges and fluctuating oil prices affect the economy of the world, and of Lithuania. Economic diplomacy must not only help counter global challenges but also contribute to building the future of Lithuania. Attracting foreign investment, making the achievements of the Lithuanian people and science better known and opening new markets for Lithuanian business are key diplomatic objectives to build a successful, advanced and growing Lithuania,” the President said.

According to Dalia Grybauskaitė, Lithuanian business people have proved their ability to be flexible and find new markets when traditional markets close up. Diplomacy must help Lithuanian business to effectively expand exports in the priority markets of the Nordic countries, Germany, the United Kingdom, France, the United States, China, Israel, Japan, and Ukraine. Export is a key driving force of the Lithuanian economy, creating one third of jobs in our country and accounting for almost 80 percent of GDP.

The President emphasized the importance of foreign investment for the development of the Lithuanian economy. Transparent foreign investment promotes the progress of the country and contributes to the well-being of the Lithuanian people. Therefore, an even more active role of diplomats is necessary in presenting Lithuania and its achievements in life sciences, lasers, nanotechnologies, and other areas. Diplomatic representations of Lithuania generate about 10 percent of potential investment projects.

During the meeting, the President also emphasized the necessity to continue the work that has already been started in energy and transport sectors, which are of strategic importance for Lithuania. As the Astravyets nuclear power plant, which does not comply with international security requirements, is rising close to Lithuania’s borders, it is necessary to strengthen dialogue with partners in the European Union and in the region so that electricity from the unsafe nuclear power plant is not placed on the Lithuanian and EU markets.

Dalia Grybauskaitė also called on the diplomats to make a more effective use of Lithuania’s geographical situation in increasing the importance of the port of Klaipėda in the region, attracting more direct flights to Lithuanian airports and promoting a faster implementation of the Rail Baltica project.

The President and the diplomats working in the field of economy also discussed work with Lithuanian communities which live abroad in order to counter emigration challenges and promote tourism and scientific links with foreign countries.

The meeting with the President brought together 70 diplomats working abroad and representing Lithuania’s interests in 41 foreign states.

{Source: Lithuania Government-Press Service of the President-Media Relations}

[Photo credits-featured image: Didžioji Street at dusk, looking north from Vilnius Town Hall, Vilnius, Lithuania. – By Diliff – Own work, CC BY-SA 3.0,]

[Intext photos: inserted by (credits embedded)]


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