Globalization and growing international competition requires a maximum consolidation of the state institutions and businesses in implementation of the country’s economic policy and economic interests abroad. Coordinated efforts of the state and business, rational use of financial and human resources is one of the main precondition for the competitive and smooth representation and implementation of economic interests abroad. Especially that is important for small countries and open economies with limited resources like Lithuania.
In this context, the Lithuanian Government set up the Commission – Economic Diplomacy Council in 2013. The Council would advise the Lithuanian Government regarding strategic and priority directions of the Lithuanian economic foreign policy, on the improvement of the system of representation of Lithuania's economic interests abroad and other related topics.
Both, Lithuanian state authorities and Lithuanian business and foreign investors’ associations, equally participate in the Economic Diplomacy Council to ensure a constructive dialogue, better coordination and implementation of the economic state policy.
The Ministry of Foreign Affairs, the Ministry of Economy, the Ministry of Transport and Communications, the Ministry of Agriculture, the Lithuanian Confederation of Industrialists, the Association of Lithuanian Chambers of Commerce, Industry and Crafts, the Lithuanian Business Confederation, the Lithuanian Business Employers’ Confederation and the association “Investors' Forum” are represented at the Economic Diplomacy Council.