US DEPARTMENT OF COMMERCE RECOGNIZES LITHUANIA AS MARKET ECONOMY
Created 2003-03-05
On 28 February, US Department of Commerce Assistant Secretary for Import Administration Faryar Shirzad signed a memorandum revoking the non-market economy status applied to Lithuania under the U.S. anti-dumping and countervailing duty laws.
The memorandum will take effect in the near future as soon as it has been published in the Federal Register.
According to the officials of the US Department of Commerce, the signed memorandum was dispatched to the Federal Register on the very same day.
As the memorandum states, after regaining the independence, the Lithuanian Government has implemented wide economic and institutional reforms aimed at enhancing the market economy.
The European Union recognized that Lithuania was a country of market economy already in the year 2000. Such a status makes for a more open trade policy towards the country.
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