Lithuania’s envoy in India has thrown her weight behind the EU-India Free Trade Agreement, labeling it the ‘mother of all agreements’ due to its groundbreaking nature. Ambassador Dana Mikneviciene, speaking exclusively, called it historic and transformative, praising its massive scale and geopolitical weight.
This isn’t just any trade deal, she stressed. It bridges two democratic giants and major trading powers, offering a blueprint for commerce in an era of global volatility. The pact’s openness sets it apart, promising unparalleled market access for companies across borders.
India’s rising stature in supply chains stands to gain immensely from closer EU integration, a vital hub in global trade networks. The ambassador reflected on India’s trade evolution, foreseeing exponential growth in bilateral economic bonds.
Lithuania, despite its size, has leveraged EU frameworks for robust expansion. Partnering with India could unlock new heights. Bilateral trade, currently at 400 million euros yearly, is ripe for a surge, especially with sectors poised for tariff cuts and easier entry.
Preparations are underway in Vilnius to brief businesses on the perks: lower duties, simplified red tape, and direct routes to lucrative markets. Lithuanian shoppers, backed by high incomes of nearly 30,000 euros per capita, are primed for Indian quality products.
Against a backdrop of US protectionism and trade frictions, this FTA shines as a beacon of dependable partnership. With ironclad political commitment, hurdles seem minimal. Enhanced tech ties in customs and institutions will grease the wheels, paving the way for mutual prosperity.