EU – Baltic States, Forum, Investments, Lithuania, Markets and Companies

Dalia Grybauskaite at ithuanian-Swedish business forum. Stockholm, 10.04.2014. Photo: lrp.lt

More and more Lithuanian companies are exploring business opportunities in Sweden. This country is our number one foreign investor and the biggest employer in Lithuania.

"Economic cooperation with Nordic countries, especially with Sweden, is today more important than ever. Risky Eastern markets compel Lithuanian businesses to focus more on the West, exploiting its economic potential, looking for reliable and civilized business partners who respect international agreements and obligations. Sweden has always been a role model of responsible, transparent and fair business. I am happy that Lithuania's economic relations with Sweden keep growing and getting stronger," the President said.

Sweden ranks first in direct foreign investments in Lithuania. Last year, Swedish direct business investments in our country reached 10 billion litas making them twice as large as Polish and German investments that rank second and third respectively. The Swedish companies employ over 11 000 people in Lithuania.

Swedish companies not only invest and add jobs in Lithuania, but also promote the Nordic business culture which is about respectful relationship between an employer and employees, honesty and intolerance for corruption, responsible approach to the surrounding environment and public interest. According to the President, the Scandinavian approach to business and economic welfare is acceptable to Lithuanian people. Even 62 percent of Lithuanians consider that the Nordic model is an example for Lithuania to follow.

According to President Grybauskaitė, the Lithuanian and Swedish companies have created the most efficient demand-supply chains in the metal and wood, chemistry and electronics, textile, construction, and other sectors. The Swedish companies have contributed a lot to the transformation of financial and telecommunication industries in Lithuania, and Lithuania is a top-five supplier for IKEA globally.

The Baltic-Nordic region is one of the fastest growing regions in Europe, the President noted. Therefore, huge potential remains to be discovered in information and communication technologies, biotechnologies, life sciences, and high value-added manufacturing sectors.

In Stockholm, the Lithuanian head of state will discuss bilateral relations and topical regional issues with King Carl XVI Gustaf and Prime Minister Fredrik Reinfeldt of Sweden. The visit also includes the signature of the Lithuania-Sweden maritime boundary agreement.