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I visited Lithuania for first time in 2005. It was a very new country that was born on the 11th of March 1990. Brave Lithuanians are the one that declared Independence from USSR on this day and successfully became an independent Baltic state, though USSR/Russia recognized Lithuania a year later, however the international communities recognized Lithuania already and it had a great start as a Country.
With a small territory of 63,500 square kilo meter space and a population of about 2.65 million having its territories with Latvia, Poland, Belarus and Russia, it’s a challenge they have been facing with some of the neighbours that are very well known by all in the World. A country with a lot of lakes and fertile soil does not rely on the agriculture. It’s 1.5 million Human Capital that are key to change this nation what I saw in 2005 and what I saw in 2023 are completely a different story.
During my first visit I met number of officials from the Ministry of Foreign Affairs and I was warmly welcomed by the Ministry officials and the Minister, Investment and Business Wings of the Government and some of the private sector companies such as Avia Solutions Group. I met a lot of people during my trip and I clearly understood from the level of intelligent and smart discussions that this country has only one way to and that is growth. I enjoyed working with the Lithuanian companies such Avia Solutions Group, Avia Baltika, Klaipeda Port, and many others that can be named.
I saw a lot of new opportunities that this country could bagged in having a strong relationship with the South Asian countries who are manufacturers of Textiles, a growing market for Aviation Business, Technology and others. Thus, I wrote an article on my return to my home country (Bangladesh) that there is Ample scope for Bangladesh to grow the economic and diplomatic relationship with Lithuania and the two other Baltic states which were pretty unknown to the mass people in Asia. The article was posted in the Ministry of Foreign Affairs website for a long time and I wrote another article while I was helping some of the Lithuanian companies grow expand in Asia specially in India, Bangladesh, Malaysia, Indonesia, Vietnam, which was published and still hanging in the website of Lithuanian Embassy in Delhi, India.
I have seen the growth of cooperation and business, investment by Lithuanian companies in Asia and surely it was a pride for me to see them opening mission in India facilitating the Lithuanian and Asian businesses to grow thus today many of the Lithuanian companies having huge business with South Asian countries with multi million dollars of investment, creating local jobs and transferring technologies. In 2014 I leased an aircraft from Lithuania with 6 Lithuanian flying and engineering crew who performed excellent and I was very proud of them.
I gave a clear indication to the business communities in Asia that Lithuania could be a growing market and it could be a hub for other Baltic nations and regional market, which happened in a large scale like this time when I visited the three Baltic States, I saw the most of the textiles are coming from Bangladesh, Cambodia mostly. What a change! See the growth between the country. I felt the people of Lithuania are extremely intelligent and tech oriented. They are result driven, committed and fearless in driving ideas to the emerging market. That made some of the Lithuanian companies today World’s largest conglomerate like Avia Solutions group, where not they are operating today globally. Their contribution towards the GDP growth of the country is remarkable.
Let me give a little bit of information on their economy, a country having no natural resources at all, based on its services mostly, with very little agriculture, with a declining population (population grown -1.05%) they have been growing purely based on their merits, plans and leadership quality. They are proud member of NATO, EU, Schengen. Export is higher than Imports which is absolutely stunning. Current Export is 53.39 billion USD and import is USD50 billion. Having a GDP growth of 5.58% with a Central bank reserve of USD:5.58 billion. Having a per capita income of USD39.300, with a Fitch Rating of A, Moody’s A3 is absolutely gorgeous.
Stable Political situation growth mindset population and excellence in Tech oriented non- traditional business is making this country Grow Silently and becoming an important player in Global Economy and Politics. I am so proud of Lithuania and shall be glad to see it growing further with a much higher speed to become one of the most developed Economy in the World.
DR M HAIDER UZZAMAN