1st UAE-Lithuanian Business Council established by UAE FCCI

The UAE-Lithuania Business Forum, organized by the UAE Federation of Chambers of Commerce and Industry (FCCI) and hosted by the Sharjah Chamber of Commerce and Industry (SCCI), has signed a Memorandum of Understanding (MoU) between the FCCI and the Federation of Lithuanian Chambers of Commerce.

This agreement aims to establish the first UAE-Lithuanian Business Council, fortify economic relations, and stimulate investment flow between both nations.

The newly-formed council will strengthen mutual trade relations by organizing visits and offering support to Emirati and Lithuanian companies, particularly in the trade and industry sectors. The move is expected to propel economic relations between the two countries to a new stage, aligning with their shared development aspirations.

The forum was attended by Mr. Abdullah Sultan Al Owais, Vice Chairman of the FCCI and Chairman of the SCCI, alongside members of the SCCI Board of Directors, and Mr. Ramūnas Davidonis, Ambassador of Lithuania to the UAE.

“The UAE-Lithuania Business Forum has provided a vital opportunity to consolidate the bonds of cooperation between our two friendly countries and set the stage for successful partnerships between the private sector and business owners to help them discover the best opportunities that can boost bilateral and fruitful cooperation. The continuous growth of our bilateral relations reflects our shared desire to expand joint work across various fields. Today’s forum is a testament to our commitment, providing a framework that unites our nations in consultation and discussion on matters that will contribute to increasing opportunities and spaces for collaborative endeavors.”

Mr. Humaid Mohammed bin Salem, Secretary-General of the Federation of FCCI, said that “Organizing the UAE-Lithuania Business Forum signifies a qualitative leap in the relations between the two countries. As the federal interface for our country’s business sector, the Federation of UAE Chambers has been instrumental in supporting and developing ties with Lithuania in recent years.”

“Through organizing and sponsoring events, visits, and signing joint memoranda of cooperation, we have recognized Lithuania as an ideal destination for UAE investments, particularly in sectors such as tourism, technology, innovation, food, and environmental sustainability. These areas align with the UAE’s economic approach and provide a solid foundation for constructive cooperation between our two nations in the near future,” Mr. bin Salem added.

Mr. Zigmantas Dargevicius, Vice President of the Association of Lithuanian Chambers of Commerce noted that “The business forum, together with the newly concluded memorandum of understanding and the bilateral meetings that have brought the UAE and Lithuanian business communities together, truly marks a significant step forward in our evolving economic relations. This productive partnership between our business sectors will not only facilitate greater access to local and regional markets in both countries but also foster the growth and enhancement of their trade and investment capabilities.”

During the event, Mr. Rashid Al Tunaiji, Director of the Trade Promotion Department at the Ministry of Economy, discussed the latest developments in the UAE’s economic environment and reaffirmed the UAE’s keenness to foster a climate that supports business growth, prosperity, and investment attraction.

Also, during the event, the Sharjah Airport International Free Zone (SAIF Zone) showcased its logistical capabilities, integrated services system catering to investors’ needs, and competitive advantages. Additionally, the forum hosted bilateral business meetings between representatives from various economic and commercial sectors of both countries, exploring future partnership prospects, investment exchanges, and participation in exhibitions and events held in the UAE and Lithuania.

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