US-Lithuanian economic cooperation has a huge potential for growth, President Gitanas Nauseda said at the US-Baltic Strategic Investment Summit in New York on Monday.
“Lithuania is actively seeking to attract investments and expand economic cooperation with the US in the fields of high technologies, defense industry, net-zero industries, as well as shared services centers,” Nauseda’s office quoted him as saying in a press release.
The president said that partnership with the US “would help Lithuania make good use of the abundant talent pool available in these areas”.
“The potential for growth in economic cooperation is huge,” he added.
In his address to the summit, the Lithuanian leader noted that the Baltic states and the US share common democratic values and openness to foreign investments, and have economies oriented towards free trade.
This provides a strong foundation for developing not only political and security cooperation but also economic cooperation, he said.
According to Nauseda, “the current geopolitical context dictates the need to expand economic ties between strategic partners and like-minded countries”.
The president noted that the US is Lithuania’s largest trade partner and investor outside Europe, adding that the impact of American investments has been particularly prominent in the life sciences and biotechnology sectors in recent years.
Nauseda invited US companies to visit Lithuania next April, when it will host the Three Seas Summit and Business Forum.
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