Sharjah And Lithuania Discuss Strengthening Economic Cooperation And Trade Ties

The Sharjah Chamber of Commerce and Industry (SCCI) recently engaged in high-level discussions with the Ambassador of Lithuania to the UAE, focusing on enhancing economic cooperation, trade ties, and investment partnerships. This follows a series of business meetings last year, culminating in the UAE-Lithuanian Business Forum and the signing of a Memorandum of Understanding (MoU) to establish the first UAE-Lithuanian Business Council.

The meeting took place today at the SCCI’s headquarters, involving Abdullah Sultan Al Owais, Chairman of SCCI, and Ramnas Davidonis, the Ambassador of Lithuania to the UAE. The delegation included Halima Humaid Ali Al Owais, Board Member at SCCI; Abdul Aziz Al Shamsi, Assistant Director-General for Communication and Business Sector in SCCI; Fatima Khalifa Al Muqarrab, Director of the International Relations Department at SCCI; and Mai Abdullah Bin Haddah Al Suwaidi, Head of Partnerships and International Cooperation at SCCI.

During the meeting, both sides discussed ongoing efforts to complete the establishment of the UAE-Lithuanian Business Council. The Council aims to enhance investment opportunities and strategic partnerships between private sector entities and business owners in both countries. This initiative is expected to boost trade exchange volumes between the UAE and Lithuania.

The discussions also highlighted leveraging the UAE's abundant investment advantages. These include facilitative measures, incentives, and promising opportunities tailored to investors’ needs. The Emirate of Sharjah offers a diverse and attractive investment environment across multiple sectors.

Abdullah Sultan Al Owais noted that economic relations between Sharjah and Lithuania have seen significant growth in recent years across various fields. This growth is attributed to enhanced coordination and communication among private sector representatives, investors, and business owners.

Al Owais credited this progress to the Sharjah Chamber’s commitment to promoting economic cooperation with Lithuania. The Chamber serves as a robust platform for facilitating communication and interaction between business communities in both nations. It organises several meetings, forums, and trade exhibitions to promote information exchange and encourage joint investment ventures.

Role of SCCI in Economic Cooperation

Al Owais affirmed that the SCCI’s pivotal role in facilitating economic cooperation was evident when it hosted the UAE-Lithuanian Business Forum. Organised by the UAE Federation of Chambers of Commerce and Industry (FCCI), this event was crucial for strengthening communication between the business communities of both countries.

The forum showcased investment opportunities available in both nations. Intense efforts are already underway to establish the first UAE-Lithuania Business Council, which is set to solidify economic ties and stimulate bilateral investment flows.

With inputs from WAM