UAE, Lithuania set to boost trade, investment

Majid Saif Al Ghurair signs an agreement with an executive from the Lithuania Confederation of Industrialists.

The opening of Lithuania's embassy in the UAE next year and the launch of direct flights between the 2 countries are key factors which would strengthen bilateral relations in the near future, according to Lithuanian Prime Minister Saulius Skvernelis.

Speaking to a visiting UAE business delegation led by the Dubai Chamber of Commerce and Industry in Vilnius, he said Lithuania plans to expand infrastructure at its airports and ports. "Lithuania is ripe with investment opportunities, especially within the country's logistics and renewable energy sectors."

Lithuania offers customised and flexible solutions for UAE businesses and investors, Skvernelis pointed out, adding that the country is witnessing stable economic growth.

In addition, the Prime Minister disclosed that he would lead a Lithuanian delegation to the UAE in the near future to further expand economic cooperation. Lithuania's participation in Expo 2020 would help showcase the country's potential at the mega event, he added.

The delegation visit to Vilnius was organised by the Dubai Chamber as part of its roadshow to the Baltic states which also covered Estonia and Latvia. Majid Saif Al Ghurair, chairman of Dubai Chamber, led the delegation, which also included Hamad Buamim, president and CEO of Dubai Chamber; Hisham Abdullah Al Shirawi, CEO of Oasis Enterprises; and several businessmen in the UAE.

A memorandum of understanding was signed between the Dubai Chamber and the Lithuania Confederation of Industrialists to facilitate the sharing of knowledge.

A business roundtable was organised by the Dubai Chamber in cooperation with the Lithuania Confederation of Industrialists and Enterprise Lithuania to examine business prospects for building sustainable partnerships between the UAE and Lithuania.

- business@khaleejtimes.com