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.

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