General Overview
With a population of 3.5 million, Lithuania is a relatively small, but potentially attractive market for American goods and services. Its geographic location, proximity to the EU and NIS markets, excellent infrastructure, very competitive living and operating costs, availability of high-skilled workforce is a good place for the U.S. producers, suppliers in their effort to expand into global markets.
In 2004 Lithuania joined the EU and NATO. Lithuania’s strong commitment and effort to join the EU and NATO won broad recognition worldwide and helped the country improve its legal, tax and customs systems – all of which helped with development of the economy and commercial sector. Today Lithuania represents an open and rapidly growing economy : - Gross Domestic Product rose by 9% in 2006 and is projected to continue growing rapidly in the coming years. The government has given priority to financial discipline, currency stability and other business friendly policies. Lithuania’s private sector deserves substantial credit for its contribution to the country’s economic performance. Since independence in 1992, Lithuanian business has shown remarkable enterpreneurship, initiative and the ability to adopt Western business practices and compete in Western markets.
European Union funds usage
Approximately one-third of the EU budget is spent for developing environmental, transport, tourism, medical, and IT infrastructure in less developed areas of the 27 member states. Lithuania is expected to receive several billion dollars from the EU in Structural, Cohesion and other funds for implementation of a variety of infrastructure projects. This will offer major opportunities for U.S. firms in coming years as third country participation in the projects is welcome.
Lithuania Country Commercial Guide 2008
You can download the report by clicking on the link below:
Lithuania Country Commercial Guide 2008 (549KB)
Products and Services to Increase Your Exports
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