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The President’s visit to the United Arab Emirates will open new trade routes for Lithuania
Monday, October 30, Vilnius – President Dalia Grybauskaitė has left for an official visit to the United Arab Emirates. The aim of the visit is to strengthen economic cooperation, open access to new markets and further develop Lithuanian trade across the world. The President will attend a business forum, meet with Emirati leaders, sign agreements on cooperation, and conclude negotiations on the export of Lithuanian foods. The visit has been arranged at the invitation of the United Arab Emirates.
The UAE is a trading, financial and logistics center that brings together Asia, Africa and the Middle East. Lithuania’s relations with the Emirates are the most dynamic in the region, with trade turnover up by as much as 25 times over the last decade. The UAE is focused on innovation, and Lithuania can offer its renewable energy experience, lasers and information technologies. There is great potential for the export of agricultural products as the Emirates imports 90 percent of its food.
During the visit, the President will meet with Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to discuss the strengthening of bilateral political and economic cooperation, the development of trading relations and export, as well as security challenges in the region. Export certificates for meat and eggs will be finalized – which will open new trade routes for Lithuanian producers to the Persian Gulf region. Lithuanian enterprises are currently exporting cereals, dairy products and fish to the United Arab Emirates. However, its market has been closed so far to meat and eggs due to specific requirements.
The President will meet with the Prime Minister of the United Arab Emirates and the Ruler of the Emirate of Dubai, Sheikh Mohammed bin Rashid Al Maktoum. A bilateral agreement on economic and technical cooperation as well as two memorandums of understanding on business cooperation and on renewables will be signed. It will strengthen bilateral relations in the fields of investment, trade, transport, science, technologies, and tourism, providing effective assistance to Lithuanian businesses operating in the Emirates.
In Dubai, the President will attend the first high-level Lithuania-UAE business forum, which will gather representatives from the Lithuanian IT, food and packaging sectors. Many Lithuanian companies are running successful business in the Emirates: they export GPS devices, furniture, Lithuanian-made ice cream, and water. The President will also meet with members the Lithuanian expat community – the largest in the region, numbering around 900. Dalia Grybauskaitė will give an official start to the Lithuanian Business Association.