The President opened Lithuanian-U.S. business forum in New York

On Monday, President Gitanas Nausėda opened a Lithuanian-U.S. business forum in New York aimed at strengthening business ties between Lithuania and the United States, particularly in the defense industry.

In his welcoming remarks, the President emphasized that the United States is a strategic ally of Lithuania. "It is important for us that our economic ties with the U.S. are growing stronger every year, with mutual trade and investment on the rise. This opens up more and more opportunities," said the President.

At the forum, the President noted that the U.S. is the main trading partner of Lithuania outside Europe. Mutual trade in goods increased by ten percent this year, while trade in services jumped by fifty percent in the first quarter alone. The President also underlined the growing scale of mutual investments. The recently signed cooperation agreement between Lithuanian universities and the Massachusetts Institute of Technology (MIT) paves the way for the development of high technology and innovation. According to the President, Lithuania's defense spending will exceed 5% of GDP next year, creating greater opportunities for growth in military equipment and the domestic defense industry.

Mr. Nausėda stressed that by allocating 5% of its GDP to defense and 0.25% to military aid for Ukraine, Lithuania is consistently strengthening NATO's eastern flank, investing in air defense, and developing joint drone production projects with Ukraine. The President also highlighted the decisions by Rheinmetall and Northrop Grumman to expand their operations in Lithuania, which he said demonstrates growing confidence in Lithuania's defense innovation ecosystem.

During the event, cooperation agreements were signed between Lithuanian and U.S. companies and organizations in the fields of defense and innovation, which, according to the President, will provide an even stronger foundation for more active transatlantic cooperation.