A. Armonaitė to discuss economic cooperation with US State Department representative
Minister of the Economy and Innovation Aušrinė Armonaitė will meet with Deputy Assistant Secretary of the US Department of State Jose W. Fernandez to discuss ways to strengthen economic cooperation between the two countries.
"The US remains one of Lithuania's most important trading partners and a leader in direct investment, and we regularly discuss our strategies and further cooperation to create more opportunities for economic growth. This is also not the first year that we have organised bilateral business forums to help companies build new and deepen existing relationships. I have no doubt that we have even more investment potential to help the countries achieve their common goals," said Ms Armonaitė, Minister of the Economy and Innovation.
Last year, trade between Lithuania and the US reached €4.76 billion, making the US Lithuania's fourth largest trading partner. Lithuanian exports amounted to €1.88 billion and imports to €2.87 billion. The US is Lithuania's priority market for exports, innovation, investment attraction, tourism, agriculture and food.
In addition, the US became Lithuania's number one partner in terms of direct investment (DI) in 2023, with Lithuanian investment in the US reaching €4.53 billion. US investments in Lithuania amounted to €390.8 million, making the country the 16th largest FDI partner.
In 2022, the 1st North America-Lithuania Business Forum (NALBT) will be held in Philadelphia, bringing together US and Lithuanian business representatives to discuss steps to develop and deepen their relationship. The NALB was held last year in Chicago and this year in New York, bringing together nearly 300 business representatives from both countries.
Also this year, an innovation hub, InnoHub Lithuania, was opened in Silicon Valley to help Lithuanian and US technology companies forge links and collaborate on innovative products.