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The President and the Foreign Minister of Lithuania met with the members of the American-Lithuanian Business Council (ALBC) in Vilnius today, and invited them to strengthen further the development of economic ties and investments.

President Gitanas Nausėda noted that the United States is one of the key strategic partners in the areas of security and economy, and stressed the importance of the work done by the ALBC. The Council is a key partner spreading the message of opportunities in Lithuania's economic environment and the attractive and safe business environment in the country, said the President.

“Dynamic economic relations between the two countries show that Lithuania is an attractive and reliable country for global businesses with a favorable environment for the development of different sectors. The U.S. is Lithuania’s strategic partner in many areas. Our goal is to further strengthen trade, promote mutual investment and business cooperation not only in traditional, but also in innovative sectors of the economy,” said Lithuania’s Foreign Minister.

The Council brought its annual business mission to Vilnius on 18 -19 September. ALBC is an association of US businesses with investments in Lithuania, 29 business representatives from 11 major US companies arrived in Lithuania for the visit, and 6 of them already operate in Lithuania. The event was attended by representatives from such companies as the Western Union, Thermo Fisher Scientific, Philip Morris International, Lockheed Martin, Northrop Grumman, Eli Lilly, Bell/Textron, Oshkosh Defense, Palo Alto Networks, Blue Cross/Blue Sgield, and Strategic Staffing Solutions.

The US-Lithuanian trade turnover rose 7.4 percent to almost 2 billion euros last year. The U.S. investors invested nearly EUR 263 million in Lithuania in the first quarter of 2019. In 2010-2018, the U.S. investors implemented a total of 73 projects and created over 8,000 jobs.

Photo: J.Auškelis and MFA