Exporting to Lithuania
Ease of doing business
Lithuania is ranked 14th out of 190 countries in the World Bank’s ease of doing business rankings (World Bank, 2018). It is economically and politically stable, has a strategic location in Europe and its workforce is multilingual and well educated. Lithuania is a member of NATO, the European Union and the Schengen Area.
Strong UK trade links
Trade between the UK and Lithuania has grown steadily over the past few years and totalled £1.8 billion in the year to March 2019 (ONS, 2019). UK exports to Lithuania amounted to £576 million in 2018, of which £364 million (63%) were goods and £212 million (37%) were services (ONS, 2019).
Opportunities for exporters
There are opportunities for UK companies across a broad range of industries. Our trade advisers in the Lithuania have identified particular opportunities for UK businesses in the following sectors.
The Rail Baltica project involves the construction of a new railway line connecting the Baltic States (Lithuania, Latvia and Estonia) with the rest of Europe, via Poland. Plans to electrify existing railways also offer opportunities for UK businesses.
Sea port projects
Lithuania’s Klaipeda Sea Port is planning to extend its current infrastructure and build a new containers terminal. UK companies could offer goods or services relating to the development of the Klaipeda sea port.
In addition to renewable energy, Lithuania is in the process of decommissioning its Ignalina Nuclear Power Plant, which will create a demand for a range of suppliers of technologies and services with nuclear sector expertise.
Respect for UK innovation
There is a respect in Lithuania for UK innovation in engineering. The UK’s excellence in science is particularly well-recognised, which could help companies find a foothold in Lithuania.
Growing tech hubs
Two of Lithuania’s most vibrant cities, Vilnius and Kaunas, are fast becoming tech hubs in the region. The cities can offer talent, well-developed infrastructure, high quality of living and an attractive business environment.
Research and development
The EU has allocated funding to Lithuania for research and development (R&D) and innovation projects, with priority for technologies in specific areas such as sustainable energy, healthcare, agriculture and education. There are opportunities for UK companies to co-operate on R&D projects, provide services for R&D and pharmaceutical companies, and supply laboratory equipment and consumables.
Internationally known firms
Lithuania’s biotech, laser and technology companies are well known within global markets. Automotive technology is a particularly fast-growing area.