Minister of Economy, Evaldas Gustas, presented to the Government accomplishments in business promotion and mitigation of the Russian embargo. He said that implemented measures have given results.
Evaldas Gustas
© DELFI / Kiril Čachovskij

"Statistics show that in the first half of 2015 export of goods to the European Union (EU) accounted for 63.2 percent of Lithuania's total export. A year ago the figure was at 56.7 percent. Export to the EU in the first half of 2015 increased by 7 percent compared to the same period of 2014. We hope that measures implemented by state institutions will continue to reduce losses incurred by businesses due to the Russian sanctions," said the minister.

The Ministry of Economy has promised to distribute EUR 4.22 million under the EU measure New Opportunities in order to assist small and medium-sized businesses in finding new partners and markets. Companies will use the funds to participate in local and foreign exhibitions. 17 projects will be funded under the measure. A total of EUR 28.9 million will be invested under the measure New Opportunities within 2014-2020 financing period.

According to the Economy Ministry, interest compensations to 4,911 companies that incurred losses due to Russia's sanctions have amounted to EUR 16.2 million.

Looking for new markets Lithuanian food producers' goods were introduced in Osaka, Nagoya and Tokyo during the Baltic Way commemoration events. Lithuanian food products were also presented at the Lithuanian Embassy in India.

Visits of the responsible Iranian and Chinese institutions were organised to Lithuania. They assessed food and veterinary control carried out by the state.

The State Food and Veterinary Service (VMVT) received confirmation from Tunisia that export certificates for beef and its sub-products have been harmonised. Furthermore, official permit was received from Morocco to import cattle and beef, it only remains to harmonise certificates.

Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Baltic States seek a single regional assessment

Ministers of finance of Lithuania, Latvia and Estonia, the European Commission and NASDAQ appealed...

LMT presents three digital service innovations at Baltic Mobile Congress

LMT (Latvian Mobile Telephone) is the telecommunications market leader in Latvia and a digital service...

CERN is considering the possibility of establishing business incubation centre

Last week, CERN delegation paid a visit to Kaunas University of Technology (KTU) Santaka Valley. The...

Israeli cloud services integrator chooses Vilnius for European base

TeraSky, a leading Israeli cloud solutions integrator, has just announced the opening of its European...

The popular French fashion brand „Gémo“ enters the Baltic States: first store in Lithuania – in 2019

The popular French fashion brand „Gémo“ entered the Baltic States - the first regional store was...