Enhanced cooperation on trade and security
This week the White House announced it will pursue enhanced cooperation with Lithuania on trade and security issues. The announcement follows a strategic meeting of Lithuanian and US representatives in Washington to discuss opportunities for enhanced cooperation in the Indo-Pacific region. “The United States reaffirmed strong support for Lithuania as a valued NATO Ally and partner in addressing many shared global challenges and opportunities, and in particular, those in the Indo-Pacific,” said Emily Horne, spokeswoman for the White House National Security Council. Specific areas included are trade, investment, and supply chain resiliency; security and defense ties; and addressing challenges associated with emerging and disruptive technologies, as well as cyber and hybrid threats.
Lithuanian Foreign Minister Gabrielius Landsbergis, who led the strategic dialogue on the Lithuania side, said after the Washington meeting that he appreciated the US experts’ support in helping Lithuania establish and develop ties with like-minded countries in the East Asian region. In Washington, Lithuanian representatives and the Export-Import Bank of the United States have also signed a cooperation memorandum that will provide a possibility for business exporting goods and services of US origin or made in the US to receive medium-term and long-term guarantees or loans of up to 600 million US dollars. Landsbergis said cooperation with this bank will help businesses “affected by the economic pressure by non-market economies, aimed against Lithuania”. He did not identify specific countries, but Lithuanian businesses have been complaining about stalled trade due to China’s anger regarding Vilnius’ recent decision to allow Taiwan to open its representative office in the country.
The EXIM bank will provide a possibility for business exporting goods and services of US origin or made in the US to receive medium-term and long-term guarantees or loans of up to 600 million US dollars.
“We are expanding economic relations with our strategic partners and looking for various new alternatives for Lithuanian companies, which are currently facing economic pressure from non-market economies,” the foreign minister said.
Possibilities to expand and deepen mutually beneficial economic ties were discussed during the meetings, especially ways to open up the US market for Lithuanian goods, as well as to develop joint investment projects in the areas of lasers, semiconductors, biotechnology and renewable energy.
From the BNS Lithuania Daily News Bulletin