Lithuania marks 20th anniversary of its accession to the Wold Trade Organization
20 years ago, on 31 May 2001, Lithuania joined the World Trade Organization.
The membership in the organization contributed to the significant expansion of foreign trade: between 2000 and 2020 exports of goods increased 7 times, from 4,1 billion EUR to 28,6 billion EUR, and imports of goods - 5 times, from 6 billion EUR to 28.9 billion EUR. The national economy grew substantially during this period as well and this serves as a good example how trade enables economic development.
Being a genuine supporter of multilateral rules based trade system Lithuania is committed to work together with all membership to ensure that WTO remains relevant and ensures fluent functioning of international trade.
In the picture: President of Lithuania Valdas Adamkus signs Lithuania's Protocol on the Accession to the WTO.
Photo credit: World Trade Organization
