Analytics, Economics, Energy, Gas, Investments, Lithuania, Technology

Dalia Grybauskaitė and His Excellency Sheikh Hamad bin Jassim bin Jabr Al Thani. Doha, 30.04.2012. Photo: president.lt

This is the first time over twenty years that economic relations have been established with the country which is one of the richest in the world. In previous meetings, the leaders of Qatar had expressed their political consent to negotiations on gas supply into Lithuania and the ministers of energy and specialists of both countries had been assigned the task to coordinate all technical details. Upon voicing mutual interest in cooperating in the energy sphere, actual negotiations have commenced between Klaipėdos nafta  and the largest global LNG supplier Qatargas.

"Lithuania is famous for innovations and high-tech developments. Modern technologies, solar cells, lasers, biotechnologies, communication and information technologies, and research are the spheres which open vast opportunities for economic relations with Qatar," the President said.

Qatar's Prime Minister assured that the agreements which will open the doors to economic cooperation, trade and investments of the two countries would be drafted without any delay.

President Dalia Grybauskaitė and His Highness Sheikh Hamad bin Khalifa Al Thani, Emir of the State of Qatar, discussed the prospects of bilateral cooperation.

It is the first time over twenty years that actual economic relations have been established with this country of the Arabian Peninsula which is the largest liquefied natural gas supplier in the world. The leaders of Lithuania and Qatar have agreed to provide opportunities for mutually beneficial economic cooperation between the two countries.

"Political doors for Lithuania-Qatar dialogue are already open. This serves as foundation for promoting concrete economic, trade and investment projects," the President underlined.

The leaders of the two countries discussed the potential for cooperating in the fields of high-tech, innovations, research, agriculture, industry and fossil energy resources, and considered the opportunities to promote the contacts of business people and provide favorable conditions for the carriage of goods and the provision of services between the countries.

During the visit, it was also agreed to sign in the near future a pack of agreements necessary for closer cooperation of the two countries, including an agreement on economic, commercial and technical cooperation, agreements on avoidance of double taxation, promotion and protection of investments, and agreements in the fields of research and natural resources.

30 billion dollars for foreign investments are planned by Qatar this year, with special interest in high technologies. In Lithuania, Qatar would be interested in manufacture of solar cells, lasers and other innovative products. Lithuania can also offer to Qatar cooperation in other spheres such as high-tech, IT, biotechnologies, logistics, and medicine.

Qatar, which plans to allocate 30 billion dollars for investments per year, can become a potential investor in Lithuania. Lithuania offers attractive investment opportunities as a country known for its high-tech business developments and qualified specialists.

Qatar is the second highest per capita income country in the world, with 19% economic growth last year.