Investors from Lithuania are exploring investment opportunities in information communications technology and renewable energy in the Philippines.
A high-level delegation of business leaders from Lithuania, led by Foreign Affairs Minister Gabrielius Landsbergis yesterday met officials of the Department of Trade and Industry led by Secretary Alfredo Pascual in Taguig City to explore avenues for bilateral cooperation and investment in promising sectors such as aerospace and pharmaceutics.
The Philippines imports aerospace and pharmaceutical products from Lithuania while exports include electronics and agricultural products such as carrageenan.
The meeting with Lithuanian business leaders highlighted the Philippines’ readiness to support innovative and high-value investment projects, as well as its role as a key player in the regional and global market–all while pushing for a sustainable and future-proof economy.
Bilateral trade between Lithuania and the Philippines reached $223.78 million in 2023, ma Lithuania is the Philippines’ 42nd trading partner.
