Page 38 - MOE ENGLISH PR REPORT - AUGUST 2024

Press Release

exchanges between the two countries. The MoU was signed by H.E. Humaid Mohammed bin
Salem, Secretary General of the Federation of UAE Chambers, and H.E. Raminta Radaviči,
Director General of the Lithuanian Industrialists Union.

Bilateral meetings with Lithuanian ministers and government officials

H.E. Bin Touq held four bilateral meetings with ministers and officials from the Lithuanian
government. He met with H.E. Marius Skuodis, the Minister of Transport and Communications,
H.E. Kazys Starkevičius, the Minister of Agriculture, H.E. Simonas Šatūnas, the Vice-Minister of
Foreign Affairs, and H.E. Karolis Žemaitis, the Vice-Minister of Economy and Innovation, to
discuss the development of economic and investment partnerships between the two countries in
their respective fields.

Organisation of the UAE-Lithuania Business Forum

The UAE-Lithuania Business Forum was also organised during the UAE delegation’s visit to
Lithuania, with an aim to highlight key economic sectors for investment in both countries and foster
dialogue between their business communities. In his speech at the Forum, H.E. Bin Touq elaborated
on the promising opportunities available in the UAE's economic sectors and the unique advantages
offered by the UAE’s competitive business environment. The UAE has adopted flexible economic
legislations and policies to support the growth of large companies and SMEs alike. These include
the granting of full foreign ownership of companies and the establishment of a competitive
environment for trade through modern technology. Thanks to these efforts, the UAE has been
recognised as the top destination to start a business by the Global Entrepreneurship Monitor (GEM)
report for 2023-2024.

H.E. Bin Touq urged Lithuanian businesses to expand their operations and investments in the UAE
across various industries, including the new economy, e-commerce, agritech, healthcare,
manufacturing, Fintech, logistics, tourism, entrepreneurship, space, and artificial intelligence. H.E.
also emphasised the significance of leveraging UAE's strategic geographic location bridging East
and West and its status as a premier global hub for business and investment.

-Ends-

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