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During her visit to Israel, Aušrinė Armonaitė will focus on investment, innovation and tourism

Date

2022 03 28

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During her visit to Israel, Minister of the Economy and Innovation Aušrinė Armonaitė will meet with business representatives and potential investors to focus on the development of innovation, investment attraction and tourism projects; also, attention will be given to the development of start-up ecosystem, defence industry and other issues relevant to the Lithuanian economy.

It is planned that Minister Armonaitė will meet with Israeli Minister of Economy and Industry Orna Barbiva and Chairman of the Board of the Israel Innovation Agency; she will be visiting international tourism exhibition IMTM 2022 and a number of companies to invite them to invest in Lithuania. Minister Armonaitė will sign a joint agreement with Israeli Minister of Tourism Yoel Razvozov on enhancing cooperation to promote the recovery of tourism; she will discuss the possibility of direct flights between both countries.

‘Israel is an important partner of Lithuania in the region; we learn from it about the development of start-up ecosystem, defence industry, science and other fields. We should continue to intensify bilateral relations in life sciences, cyber security and other high-tech areas. In the face of Russian military aggression against Ukraine, Israel’s experience in successful implementing joint scientific and defence projects is of particular importance. Therefore, we see a lot of possibilities for the development of mutual relations,’ — says Minister of the Economy and Innovation Aušrinė Armonaitė.

The Minister stresses that the Ministry of the Economy and Innovation used recommendations and experience of the Israeli Innovation Agency in implementing the innovation reform and establishing the Innovation Agency.

Aušrinė Armonaitė also proposes to explore opportunities to launch a joint R&D programme between Israel and Lithuania to benefit bilaterally and internationally.

The visit will focus on the importance of tourism. The majority of Israeli tourists consider Lithuania an attractive holiday destination due to Lithuania’s nature and well-reputed spa resorts as well as medical rehabilitation; also, there is nostalgia and sentiments of Litvaks to our country. Israeli residents are among those tourists who stay the longest in Lithuania; last year, one foreign tourist stayed 2.34 nights in our country on average while an Israeli tourist stayed as much as 3.8 nights. 

Last year, bilateral trade between Lithuania and Israel amounted to EUR 101 million (exports of EUR 75 million and imports of EUR 27 million). Israeli direct investment in Lithuania amounts to almost EUR 60 million.