Energy, EU – Baltic States, Investments, Legislation, Lithuania, Markets and Companies

Dalia Grybauskaite met with the ambassadors of EU member states. Vilnius, 16.06.2014. Photo: lrp.lt

"EU member states are our major and most reliable partners. Our cooperation will grow even stronger after adoption of the euro by Lithuania next year. The euro introduction will boost our country's exports and opportunities to attract more investments, as well as more jobs will be created for Lithuanian people. Lithuania should make good use of all opportunities so that economic well-being is felt by each and every person," the President said.

   
In 2013, Lithuanian exports to EU member states accounted for 57.4% and imports from these countries stood at 59.3%. As a result of introduction of the euro, exports from Lithuania are expected to rise by at least 5% and our country's GDP to increase by about 1.8% by 2020. After the euro adoption, interest rates and exchange costs will decrease in Lithuania, which will provide more favorable conditions for investment here.

   
During her conversation with ambassadors from EU member states, the President underlined that the European Union should continue improving its competitiveness by strengthening the internal market. According to the President, it is crucial to carry on with building the internal energy market. Urgent measures are needed to reduce the EU's dependence on the single supplier of energy. The President highlighted the new Commission's key task to continue the work started – promote economic growth, step up economic competitiveness of the Union and create jobs for Europeans.

   
The head of state also underscored the necessity of closer economic cooperation with the United States. It is particularly important to agree on the U.S. liquefied natural gas imports to the European Union.

   
Among the other issues discussed at the meeting was the security situation in Europe and cooperation of the member states in the sphere of defence. The President pointed out that in response to newly emerging challenges it was essential to further enhance economic, military, energy and information security of the European Union.