Flanders’ Minister-President Geert Bourgeois opened a new office of Flanders Investment & Trade (FIT) in Vilnius on Tuesday.
Flanders Investment and Trade office in Vilnius
© DELFI / Šarūnas Mažeika

The representation, based in the Lithuanian capital, will cover Latvia and Estonia as well.

Cooperation between Flanders, the predominantly Dutch-speaking region of northern Belgium, and Lithuania started exactly 20 years ago.

“By opening a Flanders Investment & Trade office in Vilnius for the Baltic states, Flanders sends out a clear message on the growing importance of the region for the Flemish economy. As a result of their strategic position at the Baltic Sea, the various seaports play an important role for the Flemish ports. Moreover, the region presents itself as an economic gateway to other countries in North East Europe,” Mr. Bourgeois said in a statement.

In 2015, Flemish exports to the 3 Baltic states totalled €1.28 billion. Lithuania is the most important market (€700 million), followed by Latvia (€335 million) and Estonia (€245 million). Flemish exports to Lithuania grew by a fifth over the last decade, 1.57 times to Latvia and 58% to Estonia.

Flanders accounts for 88% of Belgian exports to Lithuania, 90% to Latvia and 83% to Estonia.

Leave a comment
Commenting is allowed for registered users only!
By posting, you agree to terms
Read comments Read comments

No shift expected shortly in US trade policy with EU – Heritage Foundation analysts (1)

The United States' trade policy and possible negotiations on a free trade agreement with the European...

PM says minimum wage to grow moderately, not to harm economy

Lithuanian Prime Minister Saulius Skvernelis says that the minimum wage will grow moderately next...

Lithuanian energy minister promises to seek compromise on vetting strategic companies' deals

Lithuanian Energy Minister Žygimantas Vaičiūnas says that a compromise satisfying all parties...

IMF warns Lithuania that further minimum wage rise may harm competitiveness

An International Monetary Fund ( IMF ) mission that concluded its visit to Vilnius on Monday warned...

Kaunas, Lithuania's Industrial Innovation Capital

There is still a lot of industry in Kaunas . A closer look reveals that there is also a lot of...