UAE, Lithuania explore economic cooperation prospects

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  • Non-oil trade between the two nations grew 38 percent in 2019 to US$145m, from $105m in 2018

  • Lithuania’s pavilion at EXPO 2020 Dubai will be inspired by concepts of innovation, sustainability and innovation

Abu Dhabi: The United Arab Emirates and the Republic of Lithuania have explored the prospects of propelling trade and investment exchanges in the fields of advanced technology, innovation, clean energy, food security and life sciences.

A delegation of the UAE Ministry of Foreign Affairs and International Cooperation led by Ahmad Burahima, deputy director of the Economic and Trade Affairs Department, on Thursday met virtually with Lithuanian counterparts at the joint Economic Consultative Committee of the two countries.

The two sides reviewed the promising investment opportunities up for grabs for the two nations during the EXPO 2020 Dubai, where Lithuania will be participating with a pavilion inspired by concepts of innovation, sustainability and innovation.

EXPO 2020 Dubai was scheduled for 20 October 2020 – 10 April 2021. However, due to the COVID-19 pandemic, it will be held from 1 October 2021 to 31 March 2022.

Non-oil trade between the two nations grew 38 percent in 2019 to US$145 million, from $105 in 2018.

In March last year, Lithuania foreign affairs minister Linas Linkevicius visited Abu Dhabi and officially opened the Lithuanian Embassy in the UAE. Linas’ meeting with Sheikh Abdullah bin Zayed Al Nahyan, minister of foreign affairs and international cooperation of the UAE, focused on issues related to regional security, counter-terrorism, and the situation in the Middle East.

They had highlighted the importance of strengthening economic relations between Lithuania and the UAE, tapping into the potential of the partnership in the fields of investment, science and education, innovation, transport, tourism and other fields.

“We have just taken our agricultural products to the UAE market. However, the UAE is interested not only in traditional businesses but also in our start-ups, renewable energy and other technology. I believe that the UAE will be the gateway to other markets in the Middle East and North Africa,” Linas had said on the occasion.

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