A. Armonaitė briefed the US trade mission on the advantages of investing in Lithuania
Aušrinė Armonaitė, Minister of the Economy and Innovation, met with representatives of the mission of the American-Lithuanian Business Council to discuss further cooperation and business development opportunities, as well as the investment climate in Lithuania.
“In 2022, the US ranked fourth among Lithuania’s 210 trading partners in terms of trade turnover, which amounted to more than EUR 6.4 billion. The US remains Lithuania’s strategic partner in virtually all economic areas. We are interested in further developing cooperation in advanced manufacturing and services, biotechnology and pharmaceuticals, life sciences and their start-ups, and lasers. We are pleased that Lithuanian companies have also started investing in the US and we hope that the partnership will only grow stronger in the future, helping Lithuania to compete even more successfully on the global market,” said the Minister of the Economy and Innovation.
This year’s US trade mission to Lithuania includes representatives of Citi, Eli Lilly, Lockheed Martin, Motorola Solutions, MSD, Oshkosh Defense, Palo Alto Networks, Philip Morris International, Skydio, Strategic Staffing Solutions, and Thermo Fisher Scientific.
In 2022, Lithuania attracted six new investment projects from the US, making the country the 16th largest investor in Lithuania.
“We consistently strive to create an attractive investment environment for business and continuously invite US companies to invest actively. We are pleased that the current results show successful cooperation between the two countries, which helps to attract investment and create new jobs,” said Ieva Valeškaitė, Vice-Minister of the Economy and Innovation.
The American-Lithuanian Business Council (ALBC), established in 2013, promotes reciprocal business relations and gives American entrepreneurs and Lithuanian and US government representatives the opportunity to advocate for their interests related to investment and trade development.