Lithuania has grown on average 8% per year over the last four years, driven by exports and domestic consumer demand. Despite Lithuania’s EU accession, Lithuania’s trade with its Central and Eastern European neighbors, and Russia in particular, accounts for a growing percentage of total trade. Privatization of the large, state-owned utilities is nearly complete. Foreign government and business support have helped in the transition from the old command economy to a market economy.(CIA World Factbook)
Key exchange rates:
Interest rate: 3%
Current inflation: 11%
Tax rate: 19%
Major Lithuanian owned companies:
Baltijas Shipbuilding Yard
Baltija is one of the biggest shipbuilding yards in the three Baltic States (Lithuania, Latvia, Estonia) offering a full range of shipbuilding services and facilities.
Bank of Lithuania Bank of Lithuania is the central bank of Lithuania. Its principal role is to sustain price stability.
Bank SNORAS SNORAS is one of the largest banks in Lithuania, and its main operations include retail and corporate banking, investment banking and corporate finances, and the development of banking group companies’ services.
Lideika, Petrauskas, Valiūnas ir partneriai LAWIN One of the leading and largest law firms in Lithuania and the Baltic States. The firm provides services in all major fields of business law and is distinguished by high-quality standards, extensive experience and leading specialists in Lithuania. The firm is a member of LAWIN – a group of the leading Baltic law firms.
Hough, Zulys & Partners Hough, Zulys & Partners is an international law firm, established in 1995, that provides legal counsel and advice to legal entities and individuals interested in transacting business or obtaining legal representation in the Baltic states, Estonia, Latvia and Lithuania; and in Ukraine, Russia and Poland.
KPMG KPMG is one of the leading professional services firms providing audit, tax and advisory services in the Baltic States and Belorus. KPMG offers industry specialisation in areas including finance, construction, transport and communication.
FinMakras A capital audit company which provides the services of audit, accountancy and taxing control. In the company you can find auditors and accouters who are real professionals in this range and work not only in domestic but also in international companies.
Eurochambres, the European Association of Chambers of Commerce and Industry, is one of the key representatives of business to the European institutions. It voices the interests of over 19 million member enterprises in 45 European countries through a network of 2000 regional and local Chambers represented by 45 national - and one transnational - organisations. More than 90% of these enterprises are small or medium enterprises, with chamber members employing over 120 million employees.
Eurochambres is the sole European body to serve the interests of every sector and size of European business - due to the multi-sectoral membership of Chambers - and the only one so close to business, as a result of the Chambers’ regional focus.
The main objective of the International Chamber of Commerce (ICC) is the preparation of recommendations for international economic politics, the representation of members and their interests on international scale, stimulation of effective collaboration, providing practical and expert assistance and so on.