Being situated at the geographical centre of Europe allows us to connect three major markets with 700 million consumers.
We are a part of the EU Single market, which provides us with:
- a ‘home market’ of over 500 million consumers around EU;
- easier access to a wide range of suppliers and consumers;
- lower unit costs;
- greater commercial opportunities;
- stability and predictability due to harmonized legislation.
We became a member of Euro Zone since January 1st 2015
These are some of the main advantages of having euro:
- Elimination of exchange-rate fluctuations
- Increased trade across borders
- Price transparency
- Lower transaction costs
- Expanding markets for business
- Financial market stability
- Macroeconomic stability
- Lower interest rate
We are part of single Euro Payments Area
- Lithuania’s registered Banks and Payment Institutions enjoy the advantages of the Single Euro Payments Area (SEPA);
- SEPA – more than 500 million citizens, over 20 million businesses and European public authorities making and receiving payments in euro at low cost, under the same basic conditions, rights and obligations, regardless of their location in Europe;
- SEPA allows to arrange electronic credit transfers and direct debits in all euro area just as easy as at home.
We are also a member of European Economic Area
- This membership allows us to enjoy the benefits of Internal market and free trade not only within the 28 member states of EU, but also in Iceland, Liechtenstein and Norway.
- We can also trade with Switzerland under the conditions of Internal market due to its bilateral agreements with EU.
Our strongest attributes
- Business conditions