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The Republic of Lithuania is located in the Northern Europe and maintains the largest economy among the three Baltic States, namely Estonia, Latvia and Lithuania.
Lithuania is known as a global leader in producing ultra-fast parametric light generators and possesses over 50% of the world’s market for high-energy picosecond lasers. The country’s laser companies are among the first to transform laser research into manufacturing.
The country’s gradual shift towards knowledge-based economy has enabled the country to develop attractive business environment for start-up companies.
Foreign investors are attracted by Lithuania’s its low tax rate, skilled workforce and reliable infrastructure. The country’s two Free Economic Zones (FEZ), Kaunas and Klaipeda offers enterprising business with tax incentives, service support and developed infrastructure with tax exemption for corporate, dividends and real estate.
The service sector is a major contributor to the country’s economic development with Information and Communications Technologies (ICT) as its main sub-sector.
Lithuania exports chemicals, machinery and equipment, mineral products, textiles and plastic and foodstuff. The country’s major industries rely on biotechnology, wood, processing and tourism. Its main trading partners are Poland, Russia, Germany and Latvia.
It has been listed by the United Nations Human Development Index as a “very high human development’ country and ranked 37 based on the report in 2014.
The Lithuanian tourism industry has experienced tremendous growth in the last decade with numerous spa-hotels and summer resorts established throughout the country.
The country history has been shaped by Nordic influences with strong ties to Germanic and Slavic culture. It was the last medieval European nation to convert to Christianity and possesses a language is older than Greek, Latin, German or any other Slav dialect. It was the first country to declare independence from the Soviet Union in 1990.
Pilgrim sites is also a major attraction for spiritual tourist with the Gate of Dawn, Hill of Crosses, Zemaiciu Kalvarija and Siluva. History enthusiast can also explore the Lithuanian Military and medieval history at various castles, monuments and museums.