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Lithuania’s Foreign Minister Landsbergis: "It is important to develop effective tools to respond to economic coercion"

Created: 2024.02.02 / Updated: 2024.02.02 15:08
      Lithuania’s Foreign Minister Landsbergis: "It is important to develop effective tools to respond to economic coercion"
      Lithuania’s Foreign Minister Landsbergis: "It is important to develop effective tools to respond to economic coercion"
      Lithuania’s Foreign Minister Landsbergis: "It is important to develop effective tools to respond to economic coercion"
      Lithuania’s Foreign Minister Landsbergis: "It is important to develop effective tools to respond to economic coercion"
      Lithuania’s Foreign Minister Landsbergis: "It is important to develop effective tools to respond to economic coercion"

      On 1-2 February, Lithuania’s Minister of Foreign Affairs Gabrielius Landsbergis is attending the 3rd EU Indo-Pacific Ministerial Forum in Brussels. In a discussion on geopolitical and security challenges in the Indo-Pacific, the Foreign Minister noted that to reduce strategic dependencies and correct trade imbalances, we had no choice but to promote the diversification of supply chains and increase economic resilience.

      “Having faced economic coercion, Lithuania learned a bitter historical lesson. Since the first days of regained independence, Russia has sought to undermine our resolve with an economic blockade and other pressure tactics, such as unexpected repairs of oil pipelines, high gas prices, artificial restrictions on Lithuanian exports, and obstacles to the transportation of goods. Economic coercion was possible until we achieved economic and energy independence from Russia. For these reasons, our efforts have been focused on long-term strategies to improve economic resilience, strengthen energy security and diversify export markets," said Landsbergis.

      Lithuania’s Foreign Minister stressed that the prosperity of the Indo-Pacific region required a more resilient economy that would be less vulnerable to coercion and other challenges.

      Landsbergis also presented Lithuania’s Indo-Pacific Strategy and Action Plan, which invites the region’s countries to participate jointly in international formats’ initiatives to strengthen the rules-based international order.
       
      “Lithuania has recently adopted its first Indo-Pacific strategy and is firmly committed to seizing new opportunities in the region, especially in sectors such as electronics, biotechnology, lasers, and renewable energy. In addition, we have strengthened our diplomatic presence by opening embassies in Australia, South Korea, Singapore and a trade representative office in Taipei,” said the head of Lithuanian diplomacy.

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