Minister Budrys: A strong and innovative defence industry is important both for Lithuania and Europe as a whole
On Monday, July 28, the Minister of Foreign Affairs of Lithuania, Kęstutis Budrys, is paying a working visit to Klaipėda.
The Minister visited the Orion Global PET and KOVO Armor companies operating in the Klaipėda Free Economic Zone (FEZ). Budrys got acquainted with the activities of the companies, discussed the business regulatory environment in Lithuania, as well as the possibilities for exporting products manufactured in Lithuania abroad.
KOVO Armor is the first defence sector company established in the Klaipėda FEZ. The company relies on innovative technologies that allow the development of lightweight, but high-performance ballistic protection products.
“Technological progress in Lithuania’s defence sector is key to increasing the country’s competitiveness and is the most direct path to becoming a regional centre for defence innovation. A strong and innovative defence industry is needed not only for Lithuania, but for Europe as a whole,” the Minister said.
Budrys visited the Orion Global PET, the first European plant of the global chemical company Indorama Ventures, located in the Klaipėda FEZ.
The PET industry needs to ensure fair conditions of competition both to remain in the EU internal market and to compete globally. Lithuania supports the determined application of trade defence measures and actively defends the interests of Lithuanian producers in the EU. The Foreign Ministry estimates that the benefits of EU trade defence measures for Lithuanian PET producers amount to about EUR 51 million per year.
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