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Brexit sparks Irish businessmen's interest in Lithuanian market

BC, Vilnius, 20.06.2018.Print version
Irish businessmen concerned about the upcoming Brexit are becoming more and more interested in the Lithuanian market, informs LETA/BNS.

Photo: president.ie

Accompanying the Irish president during his visit to Vilnius, business representatives see the potential to expand cooperation in the areas of agriculture, high technology and tourism.


"We see Lithuania as a strategic partner in the euro zone because of your traditional connections with Russia and also around the region," Conor Fahy from Enterprise Ireland told BNS Lithuania on Wednesday.


Welcoming participants of a business breakfast, Irish President Michael D. Higgins said Britain's decision to leave the EU's common market is raising particular concern for Irish farmers as they have so far exported a major part of their produce to the United Kingdom.


He also expressed hope that Lithuania and Ireland would step up cooperation in the areas of high technology and life sciences.


"I think that Lithuania's capacity in the high technology, for example in relation to lasers, is one of the best kept secrets in the world," the Irish president said.


Bilateral trade turnover between Lithuania and Ireland has jumped 70 percent over the last five years, reaching 214 million euros last year.


Lithuania invested 81 million euros in Ireland last year, and Ireland's investment in Lithuania stood at 47 million euros, Lithuanian Deputy Foreign Minister Neris Germanas told on Wednesday during the business breakfast.






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