„While Lithuania and Ireland have maintained close ties to date, we still see a lot of potential that we can exploit. One of the areas is the expansion of trade and investment in high value-added sectors such as ICT services, fintech, biotechnology and pharmaceuticals. We also invite Irish representatives to use Lithuania’s expertise and experience in Ukraine in joint reconstruction projects,“ said Armonaitė.
Ireland is considered to be one of the most open economies with a focus on high technology, life sciences, agribusiness, including the food industry. Ireland’s economic growth over the last decade has been well above the European Union average and 15 of the world’s 25 largest financial companies have already established offices in the country. Ireland is also one of the world’s largest donors to development cooperation.
Last year, trade between Lithuania and Ireland amounted to EUR 325.04 million, making Ireland the country’s 32nd trading partner. Exports totalled EUR 154.6 million and imports were EUR 170.4 million. Ireland is also Lithuania’s 20th largest inbound tourism market.