Sharjah, UAE — The UAE Federation of Chambers of Commerce and Industry (FCCI) and its Lithuanian counterpart have signed an MoU to establish the first UAE-Lithuanian Business council besides strengthening economic relations and increase investment flow between the two countries.
The MoU was signed at the UAE-Lithuania Business Forum organized by the FCCI and hosted by the Sharjah Chamber of Commerce and Industry (SCCI).
The newly formed council will strengthen mutual trade relations by organizing visits and offering support to Emirati and Lithuanian companies, particularly in the trade and industry sectors.
The forum was attended by Abdullah Sultan Al Owais, Vice Chairman of the FCCI and Chairman of the SCCI, alongside members of the SCCI Board of Directors, and Ramūnas Davidonis, Ambassador of Lithuania to the UAE.
More than 100 representatives of the UAE and Lithuanian business communities and several government entities in Sharjah also attended the forum.
“The UAE-Lithuania Business Forum has provided a vital opportunity to consolidate the bonds of cooperation between our two friendly countries and set the stage for successful partnerships between the private sector and business owners to help them discover the best opportunities that can boost bilateral and fruitful cooperation.” Abdullah Al Owais said.
Ramūnas Davidonis said, “The robust relationship between Lithuania and the UAE is a testament to our shared commitment to strengthening cooperation across all sectors in pursuit of our sustainable development goals. Lithuania boasts promising economic sectors such as tourism, financial services, healthcare, and information technology, offering numerous growth opportunities.”
He urged Emirati investors to seize the advantages of these services and explore the investment opportunities and partnerships that arise in these domains.
During the event, Rashid Al Tunaiji, Director of the Trade Promotion Department at the Ministry of Economy, said the UAE boasts a global trade of approximately $2.2 trillion with countries worldwide, with 2021 exports amounting to $42.5 billion.