Sharjah, Lithuania explore enhancing economic cooperation

The Sharjah Chamber of Commerce and Industry (SCCI) has engaged in high-level discussions with the Ambassador of Lithuania to the UAE, exploring avenues for enhancing economic cooperation, bolstering trade ties, and fostering investment partnerships between the two countries’ business communities.

This follows a series of business meetings held last year, culminating in the UAE-Lithuanian Business Forum, which was hosted by the Sharjah Chamber and concluded with the signing of a Memorandum of Understanding (MoU) between the two sides to establish the first UAE-Lithuanian Business Council.

Discussions took place during a meeting, held today, Friday, at the SCCI’s headquarters, between Abdullah Sultan Al Owais, Chairman of SCCI, and Ramnas Davidonis, the Ambassador of Lithuania to the UAE, along with his accompanying delegation.

The meeting was attended by 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 gathering, both sides outlined the ongoing efforts to complete the establishment of the UAE-Lithuanian Business Council. The Council aims at enhancing investment opportunities and strategic partnerships between the private sector and business owners in both countries, thereby boosting the UAE-Lithuanian trade exchange volume.

Furthermore, the discussions veered towards leveraging the UAE's abundant investment advantages, including facilitative measures, incentives, and promising opportunities catering to investors’ needs, as well as the diverse and attractive investment environment offered by the Emirate of Sharjah across multiple sectors.

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

He attributed this progress to the Sharjah Chamber’s commitment to promoting economic cooperation with Lithuania. Serving as a robust platform to facilitate communication and interaction between business communities in both nations, the Chamber organises several meetings, forums, and trade exhibitions to promote the exchange of information and expertise between both sides, thereby encouraging joint investment ventures.

Al Owais affirmed that the SCCI’s pivotal role in facilitating economic cooperation between the two business communities was clearly demonstrated when the Chamber hosted the UAE-Lithuanian Business Forum, which was organised by the UAE Federation of Chambers of Commerce and Industry (FCCI).

This event was a crucial opportunity to strengthen communication between the business communities of UAE and Lithuania, showcasing the investment opportunities available in both nations.

Additionally, intense efforts are already underway to establish the first UAE-Lithuania Business Council, which are set to solidify economic ties and stimulate bilateral investment flows.