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Foreign Free Trade Zones/Free Ports

Lithuanian Parliament voted in favor of the Law on the Fundamentals of Free Economic Zones on June 28, 1995. The law regulates conditions for the establishment of free trade zones in Lithuania, as well as the legal status of firms operating in such zones. Currently, Lithuania has three free trade zones, in Siauliai, Klaipeda and Kaunas. The largest airport in the Baltic States is located in Siauliai, Kaunas is an air, road, and rail hub, and Klaipeda is the largest port. The goal of the zones is to provide favorable conditions to promote investments in trade and manufacture and export through tax, customs and free monetary-financial operation incentives. However, so far the zones are badly managed and have attracted few businesses.

Benefiting from its geographical position and free economic zones, Lithuania also has a good access to eastern markets including Russia. Moreover, the labor force in Lithuania is not only cheap, but also highly qualified.

Capital Overflow Policies

The Lithuanian government does not have any restricting policies regarding the outflow of capital.

 

 

 

 

 

 

 

 

 

  Copyright By :  Kish Trade Promotion Center  2002