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Economic Relations

Between The Islamic Republic of Iran and the Republic of Lithuania

 

Thanks to their old mutual political relations, the Islamic Republic of Iran and the Republic of Lithuania enjoy great capacities and potential of cooperation in various sectors including in energy, small and heavy industries, new technologies and petrochemical industries, which could be used by the private sectors of the two countries.

 

The most significant cooperation agreements between the Islamic Republic of Iran and the Republic of Lithuania include:

-         Memorandum of understanding in transport sector singed in Vilnius in 1996

-         Air transport cooperation agreement singed in Vilnius in 1996

-         Road transport of goods and passengers cooperation agreement signed in Vilnius in 1996

 

The most recent cooperation agreement between the Islamic Republic of Iran and the Republic of Lithuania was concluded in 2011 between the chambers of commerce of the two countries.

 

At the present time, the average value of trade between the two countries exceeds five million dollars. It is hoped that bilateral trade would increase in the near future in view of more investment by the private sectors of the two countries.

 

 

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