Friday, May 17, Washington – President Dalia Grybauskaitė met with representatives of the world-famous companies of the United States and attended an inaugural meeting of the American-Lithuanian Business Council. It is the first such association formed exclusively to promote economic cooperation between the two countries.
“The United States is the largest investor in the world, but it ranks only 19th in foreign direct investments in Lithuania. This Council can significantly contribute to the strengthening of the U.S.-Lithuania commercial and economic relations,” the President said.
Lithuania also expects to expand its exports to the United States, ranging from lasers to foodstuffs. According to the President, with businesses intensifying their relationship with the world’s largest market Lithuania would strengthen its competitiveness.
Over the past few years, several major U.S. investment companies started operating in Lithuania – IT branch opened by Western Union, biotech company Thermo Fisher Scientific, and manufacturer of agricultural equipment Kinze Manufacturing Inc.
The American-Lithuanian Business Council comprises nine U.S. corporations investing in our country: Western Union, Exelon Generation, Chevron, Fluor, Thermo Fisher Scientific, Strategic Staffing Solutions, Phillip Morris, Maersk Line Limited. The number of employees in Lithuania-based divisions of these companies is rapidly increasing.
According to the President, a new free trade agreement between the European Union and the United States can also give fresh impetus to the development of bilateral economic relations. Negotiations on this agreement are expected to open during Lithuania’s Presidency of the EU Council.