EIMIN seeks greater opportunities for biotechnology sector
In order to promote the development of the Lithuanian biotechnology sector and increase its competitiveness, the Ministry of the Economy and Innovation has submitted to the Government a conclusion on the amendments to the Law on Fibre Hemp, which were approved today. The adopted amendments would allow not only the supply of finished hemp products, but also its raw material for the production of other products. It would also facilitate the export of fibre hemp production to other countries.
"The market for active ingredients in fibre hemp in Europe had a turnover of €300 million. It is estimated to reach €1.63 billion by 2030. This is also one of the areas that could provide Lithuania with new opportunities for the development of biotechnology and consequently for the country's economic growth in the coming years. This would further strengthen Lithuania's life sciences sector, which is expected to grow to 5% of GDP in the near future," said Aušrinė Armonaitė, the Minister of the Economy and Innovation.
"Until now, Lithuania has not been able to supply fibre hemp raw material for the production of other products. In addition, laboratory testing is only carried out in a single state laboratory, which does not allow for competition between laboratories or self-monitoring by growers and producers. These changes would therefore strengthen innovation and export development," said Ieva Valeškaitė, the Vice-Minister of the Economy and Innovation.
The amendments initiated by the members of the Seimas would also allow fibre hemp growers to carry out research in closed areas. Such research is particularly related to the invention and application of innovative cultivation methods and productivity-enhancing technologies for the production of fibre hemp. The creation, development and successful application of these technologies would lead to further modernisation.
The amendments would also increase Lithuanian exports and the ability of Lithuanian producers to compete on international markets, as the requirements for exportable fibre hemp products and goods would be set according to the requirements of the country to which they are exported, rather than those of Lithuania.
In order to protect the Lithuanian market, the Government also proposes to improve the draft law by introducing a dual monitoring model, which would include monitoring of the fibre hemp product and the manufacturing process, to ensure that all products made available to consumers comply with the provisions of the Law on Fibre Hemp.
The Law on Fibre Hemp regulates the cultivation of fibre hemp and the production and marketing of fibre hemp for fibre products and articles. The cultivation of fibre hemp is strictly controlled and products may only be made from fully compliant fibre hemp products.