Lithuania hopes for India's further investment in the country, Lithuanian President Gitanas Nauseda told Indian Vice President Venkaiah Naidu during their meeting in Vilnius on Saturday.
Gitanas Nausėda susitiko su Indijos viceprezidentu Venkaiah Naidu
© Lietuvos Respublikos Prezidento kanceliarijos nuotrauka

The issue of India's embassy in Lithuania remains open.

According to Nauseda, although the two countries' economic and cultural relations are becoming stronger, there area areas where the potential is not used. For example, bilateral trade turnover could be higher.

"We have Indian investment in Lithuania already, and we cannot say the same about Lithuanian investment in India. But taking into account the fact that we have rather liberal fintech regulation and Lithuania has achievements in the areas of life sciences and biotechnology, we have invited Indian companies to more actively invest in those areas and increase their capacity in our region," Nauseda told a joint press conference at the Presidential Palace.

Meanwhile, the Indian vice president invited Lithuania to make use of the economic possibilities in India.

"We agreed to enhance cooperation in areas such as agriculture, food processing, information technology, financial services and also financial technology," he said.

In his words, India is one of the fastest-developing economies in the world, creating many possibilities for Lithuania.

Both politicians focused on close bilateral cultural ties and discussed political cooperation. According to the Lithuanian presidential office, Nauseda invited the Indian vice president to consider opening India's embassy in Lithuania.

"We spoke about the fact that discussions on the opening of India's embassy in Lithuania have been taking place since 2005 but no decisions have been made yet. I believe that if we are a bit more patient, these decisions can be expected in the future but, of course, it doesn't depend on us." Nauseda told the press conference.

Lithuania's embassy in India operates since 2013.

According to the Lithuanian presidential office, it's the first time an Indian official of such high ranking is visiting Lithuania. Therefore, "this visit is viewed as a new stage in active bilateral cooperation."

The last time Lithuania's president paid a state visit to India was in 2001.

BNS
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