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The opening of Lithuania’s embassy in the UAE next year and the launch of direct flights between the two countries are key factors which would strengthen bilateral relations in the near future, Lithuanian Prime Minister H.E. Saulius Skvernelis said during a recent meeting in Vilnius which was attended by a UAE business delegation led by Dubai Chamber of Commerce and Industry.
During the meeting, H.E. Skvernelis spoke about Lithuania’s plans to expand infrastructure at its airports and ports, and noted that Lithuania is ripe with investment opportunities, especially within the country’s logistics and renewable energy sectors.
As an attractive destination for ease-of-doing business, Lithuania offers customised and flexible solutions for UAE businesses and investors, H.E. Skvernelis pointed out, adding that the country is witnessing stable economic growth.
In addition, H.E. Skvernelis revealed that he will lead a Lithuanian delegation to the UAE in the near future in an effort to further expand economic cooperation, adding that Lithuania’s participation in Expo 2020 would help showcase the country’s potential.
The delegation visit to Vilnius was organised by Dubai Chamber as part of its roadshow to the Baltic States which also covered Estonia and Latvia. The delegation was led by H.E. Majid Saif Al Ghurair, Chairman of Dubai Chamber, and joined by H.E. Hamad Buamim, President and CEO of Dubai Chamber; H.E. Hisham Abdullah Al Shirawi, CEO of Oasis Enterprises, and several businessmen representing leading companies in the UAE.
A memorandum of understanding (MoU) was signed between Dubai Chamber and the Lithuania Confederation of Industrialists which aims to facilitate the sharing of knowledge and expertise between the two organisations.
A business roundtable was organised by Dubai Chamber in cooperation with the Lithuania Confederation of Industrialists and Enterprise Lithuania which examined concrete business prospects for building mutual sustainable partnerships between the UAE and Lithuania.
During the roundtable, H.E. Al Ghurair invited Lithuania to open a trade representative office at Dubai Chamber’s head office, which he said would complement the country’s efforts to boost its exports. He revealed that Dubai accounts for 80% of the UAE’s non-oil trade with Lithuania and noted that there is plenty of room to expand economic cooperation in the future, especially within the areas of technology and innovation.
For his part, H.E. Buamim explained that Lithuania is Dubai’s largest trading partner in the Baltic region and said Dubai-based businesses operating in IT, logistics and food industry sectors would benefit greatly by collaborating with their Lithuanian counterparts.
Strengthening UAE-Lithuania relations could potentially lead to the launch of direct flights between the two countries, H.E. Buamim said. He called on Lithuanian companies to expand their footprint in the GCC and Middle East by leveraging Dubai as a strategic hub.
H.E. Al Shirawi invited Lithuania startups to establish a presence in Dubai, and noted that the emirate can serve as an ideal platform for them to reach new growth markets. In addition, he identified academic and cultural exchange between the two countries as another area of mutual cooperation which could improve bilateral ties.
Dr. Yousif Eisa Hassan Eisa Al Sabri, UAE Ambassador Extraordinary and Plenipotentiary of the UAE to Poland and Non-resident Ambassador to Lithuania, said the delegation visit organised by Dubai Chamber reflects the commitment of the UAE’s government and business community to forger stronger ties with key stakeholders in Lithuania.
Lithuanian companies participating in the roundtable highlighted several business opportunities within the country’s seaports, railways, and aviation sector which offer significant potential to UAE companies.
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