Lithuania Business
• Main exports: Mineral products, textiles and clothing, machinery and equipment, chemicals, wood and wood products.
• Main imports: Mineral products, machinery and equipment, transport equipment, chemicals, textiles and clothing.
• Main trade partners: Russian Federation, Germany, Poland, Latvia and Estonia.
Economy
The government plans to reduce the percentage but faces major problems regarding waste disposal and alternative energy sources. Further privatisations of state assets, principally in the banking and transport sectors, were completed in 2002.
Following a 90% endorsement in a national referendum held in May 2003, Lithuania joined the EU on 1 May 2004.
Lithuania's trade patterns have gradually shifted during the 1990s towards the West, and the European Union now accounts for just under half of all Lithuanian trade. Lithuania has recovered from the serious knock-on effects of the 1998 Russian financial crisis, and growth was 8% in 2007.
Inflation was 5.4% last year and unemployment at 5.7%.
Business Etiquette
Office hours: Mon-Fri 0900-1300 and 1400-1800.
Business Contacts
J Tumo-Vaizganto 9/1-63A, LT-01108 Vilnius, Lithuania
Tel: (5) 261 2102.
Website: www.chambers.lt
European Committee of the Government of the Republic of Lithuania
Gedimino ave 11, LT-01103 Vilnius, Lithuania
Tel: (5) 266 3827.
Website: www.euro.lt
LITEXPO (Information on Conferences/Conventions)
Laisves pr 5, LT-04215 Vilnius, Lithuania
Tel: (5) 245 1800.
Website: www.litexpo.lt
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