(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 7. The most promising
area for developing Lithuania's export opportunities to Kyrgyzstan
is engineering industry, a source at the Ministry of Economy and
Innovation of Lithuania told trend .
According to the ministry, Lithuania has potential to increase
exports of various machines and equipment to Kyrgyzstan. It mainly
includes medical and laboratory equipment, as well as equipment for
sewing, food industries, and cargo handling machines.
There is also prospective to boost exports of rubber and plastic
products, as well as electrical equipment, including various parts
of electric circuits, electric heaters, and spare car parts.
As for the food industry, Lithuania has potential to export
vegetable and animal fats and oils, animal feed, and confectionery
to Kyrgyzstan. In chemical industry it is mainly various
construction materials, paints, and varnishes.
"Diversification of export markets is a priority for the
Lithuanian government. According to Lithuanian Statistics, in 2022,
Kyrgyzstan ranked 30-th by trade turnover among 211 Lithuania's
trade partners, 24 – by exports, and 45 – by imports," the source
said.
According to the department, trade turnover between Kyrgyzstan
and Lithuania amounted to 371.8 million euro last year.
Exports to Kyrgyzstan amounted to 325 million euro in 2022,
including exports of goods of Lithuanian origin - for 6 million
euro, and reexports – for 319 million euro. Lithuanian imports from
Kyrgyzstan totaled 46.8 million euro.
Comments
No comment