The Prime Minister of Lithuania Mr Andrius Kubilius is paying his working visit to Stockholm on the 9th June, 2010. The purpose of this visit is to follow up (overlook) dynamic and intensive bilateral economic relations between both countries and to spread out the message to Swedish business community on Lithuania’s economic outlook and Government’s policy priorities. Mr. Andrius Kubilius will meet the Prime Minister of Sweden Mr Fredrik Reinfeldt. The Prime Minister’s delegation also involves the Lithuanian Minister of Economy Mr Dainius Kreivys, the Prime Minister’s Press Office reported.

The big part of this visit will be devoted to the meetings with the leading Swedish companies and private equity funds with a view to present Lithuania’s efforts in improving investment environment and to show a huge intention for new cooperation projects which might foster further bilateral business growth. The meetings are arranged in close cooperation with the Swedish partners representing banking and financial sector investors.

Lithuania was deeply impacted by the recession in 2009. With the acute response to these economic and financial challenges the Government of Lithuania managed to ensure macroeconomic stability in the country. Implementing fiscal consolidation measures Lithuania demonstrated its capability to handle structural problems of public finances in a responsible and efficient way. It is acknowledge not only by the EC and IMF, but also clearly assed by international markets. The IMF has updated the forecast of Lithuania’s GDP growth to 2 % in 2010. International rating agencies have started to upgrade Lithuania’s outlook, Moody’s upgraded the Lithuanian Government’s borrowing ratings from negative to stable in April, Standard&Poor and Fitch also lifted their outlooks for Lithuania from negative to stable in February and March.

The Government of Lithuania has been actively working to promote inward foreign direct investment, giving a special priority to technology-intense and higher value added projects. Dynamically improving relations with neighbouring countries, low tax burden, very competitive overall business operation costs, talented people and investment-minded Government are the driven success factors for international companies to get located in Lithuania where Swedish business has been already benefiting. The Government’s efforts to attract investments show already concrete results, leading multinational companies such as Barclays, IBM, Western Union invested in Lithuania.

Sweden is one of Lithuania’s main economic partners taking the first position in the list of foreign investors and being among the key trading partners. Despite of already existing intensive bilateral economic cooperation, Lithuania is open to discuss new mutually beneficial investment projects.