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 preconditions for the competitive and smooth representation and implementation of economic interests abroad. That is especially 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 advises 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.
Lithuanian state authorities, Lithuanian business and foreign investors’ associations, Lithuanian diaspora organization they all 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 and Innovation, the Ministry of Transport and Communications, the Ministry of Agriculture, the Ministry of Education, Science and Sport, the Lithuanian Confederation of Industrialists, the Association of Lithuanian Chambers of Commerce, Industry and Crafts, the Lithuanian Business Confederation, the Lithuanian Employers’ Confederation, the association “Investors' Forum”, Information, Communication and Technology (ICT) Sector Association, Association “Fintech Hub LT”, Lithuanian Engineering and Technology Industry Association LINPRA, Lithuanian Laser Association, Lithuanian Biotechnology Association, Lithuanian Food Exporters Association LITMEA, NGO “Global Lithuanian Leaders” are represented at the Economic Diplomacy Council.