News

The Minister of Foreign Affairs of Lithuania, Kęstutis Budrys, continues to participate in the OECD Ministerial Council meeting in Paris. This year, Lithuania holds the position of vice-chair at this most important annual OECD event. The Minister spoke in the sessions on digital transformation, international trade, and OECD external relations.

In a discussion on international trade, the Minister highlighted the need to strengthen the rules-based trading system and to address unfair competition and supply chain vulnerabilities. Budrys also stressed the need to expand cooperation with like-minded partners in order to strengthen economic resilience. "We need to strive for better economic resilience and support open, rules-based trade," he said.

In the OECD's external relations session, Budrys stressed that the organization must remain active in creating policy recommendations, shaping rules not only among its members but also beyond. "Lithuania supports the enlargement of the OECD as an opportunity to promote the organisation's values globally and strengthen economic reforms based on the highest standards around the world. We look forward to continued active OECD work in regions, especially in Eastern Europe and the Indo-Pacific region", said the Minister.

On the sidelines of the Ministerial Council meeting, Budrys chaired a discussion session on the challenges of digital transformation. The Minister emphasized that the digital economy creates new opportunities, but at the same time requires greater attention to cybersecurity, the protection of intellectual property, and the fight against disinformation. "These challenges require coordinated and value-based solutions," he stressed.

The Ministerial Council meeting is the OECD’s most important annual event bringing together foreign, economic, and finance ministers from member and partner countries. This year's meeting, under the theme “Leading the Way towards Resilient, Inclusive, and Sustainable Prosperity through Rules-Based Trade, Investment, and Innovation,” is chaired by Costa Rica, with Australia, Canada, and Lithuania serving as vice-chairs.