Lithuania sees Singapore as gateway to other Southeast Asian markets – formin

  • 2022-02-07
  • BNS/TBT Staff

VILNIUS – Lithuania sees Singapore as "a reliable gateway" to other Southeast Asian markets, according to Foreign Minister Gabrielius Landsbergis, who is on Monday visiting the city-state together with a business delegation. 

The purpose of the working visit is "to deepen the geopolitical dialogue and to develop bilateral relations, especially economic ties, with one of our key Asian partners", the Lithuanian Foreign Ministry said in a press release. 

Landsbergis met with his Singaporean counterpart Vivian Balakrishnan to discuss political developments in Asia and Eastern Europe, intensifying bilateral relations between Lithuania and Singapore, and the EU's growing attention to South-East Asia.

"Singapore is already an important partner of Lithuania in Asia. In the future, we wish to develop our relations even further, especially in the fields of science and high technology," the Lithuanian minister said.

"We consider Singapore as a reliable gateway to other Southeast Asian markets," he said. "I believe that the establishment of the embassy of Lithuania in Singapore will help to ensure fruitful cooperation."

Landsbergis also met with Lim Ming Yan, chairman of the Singapore Business Federation that represents 27,000 local companies.

"During the meeting, business and investment opportunities in Lithuania were presented. The interlocutors also discussed the achievements of Lithuanian companies in developing high value-added niche products such as lasers, nano-satellites, biotechnology and pharmaceutical products, solar panels, as well as IT solutions in the fields of finance and cybersecurity," the ministry said.

"Landsbergis also invited Singapore venture capital funds to invest in Lithuania's rapidly growing start-up ecosystem", it added. 

On Tuesday, Landsbergis is to leave for Melbourne to meet with Australian business and scientific organizations, and the local Lithuanian business community.

Singapore is Lithuania's number one export market for services and number three for goods in South East Asia.