Lithuanian Smes To Receive Support For International Expansion

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 26. The Ministry of Economy and Innovation (EIMIN) of Lithuania has announced a call for applications for micro, small, and medium-sized enterprises (SMEs) planning to expand their activities abroad, Trend reports.

The total amount of the call exceeds 12 million euros. The support aims to promote the export of Lithuanian products and help companies establish themselves in international markets.

Of this amount, 6.6 million euros is allocated for projects in the Central and Western Lithuania region, and 6.3 million euros for the Capital region. In both regions, activities such as presenting SMEs' own products at international trade fairs and certification are financed. In addition, in the Central and Western Lithuania region, expenses for purchasing e-marketing services and salaries for export managers are also covered.

“Exports are one of the main engines of Lithuania's economy. In the current context, where the situation in international markets is constantly changing, it is important to give our businesses the opportunity to operate with greater confidence - to plan their expansion, seek new markets, and strengthen their ties with foreign partners,” said EIMIN Minister Lukas Savickas.

All SMEs from the Central and Western Lithuania region can apply, while in the Capital region only SMEs operating in high value-added sectors as well as in the defense and security industries are eligible. The maximum funding amount is 100,000 euros (Central and Western Lithuania) and 150,000 euros (Capital region). The funding intensity is up to 50 percent of eligible expenses.

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