UAE-Lithuania Business Forum Explores Future Cooperation In Technology And Renewable Energy Sectors

The UAE-Lithuania Business Forum took place at the Sharjah Chamber of Commerce and Industry (SCCI), focusing on strengthening economic ties and exploring collaboration in technology and green energy. Organised by the Federation of UAE Chambers of Commerce and Industry, the event highlighted the positive trajectory of UAE-Lithuania relations, supported by strategic agreements and memorandums of understanding.

Abdallah Sultan Al Owais, Vice Chairman of the Federation of UAE Chambers of Commerce and Industry and Chairman of SCCI, welcomed attendees. Sigitas Gailiunas, President of the Association of Lithuanian Chambers of Commerce and Industry, and Ramūnas Davidonis, Ambassador of Lithuania to the UAE, were also present. The forum attracted investors and local business representatives.

Al Owais emphasised that the forum is a platform for exploring cooperation between private sectors in both countries. He highlighted the UAE's infrastructure and legal framework as key factors for Lithuanian businesses seeking market access. "We recognise that in today’s globalised world, international cooperation is more crucial than ever before," he stated.

Sigitas Gailiunas expressed commitment to increasing Lithuania's presence in bilateral forums. He noted Lithuania's supportive environment for tech startups with strengths in software development, IT, and telecommunications. Emirati companies have opportunities to form investment partnerships in these sectors.

The forum included presentations on joint venture prospects between UAE and Lithuanian private sectors. Discussions covered innovation, advanced technology, and renewable energy. Green technologies were identified as a promising area for collaboration, aligning with both nations' commitments to sustainable development.

The Sharjah Chamber showcased Sharjah's competitive advantages as an investment destination. A presentation detailed opportunities across manufacturing, logistics, tourism, education, healthcare, and creative industries. Support mechanisms for investors looking to establish or expand businesses in Sharjah were also outlined.

SCCI signed two Memoranda of Understanding with Lithuanian chambers from Šiauliai and Kaunas. These agreements aim to strengthen economic partnerships between business communities in both countries. They include provisions for trade delegation exchanges, export discussions, commercial data sharing, joint research activities, trade events participation, expertise exchange, knowledge sharing, and training opportunities.

Al Owais remarked on the significance of cross-border collaboration amid global economic challenges. "With the UAE’s forward-looking economic approach... this forum presents an ideal platform to foster knowledge-sharing," he added.

The event underscored the potential for mutual benefits through enduring partnerships between the two nations. It set a foundation for future collaborations in high-potential sectors like technology and green energy.

With inputs from WAM