Doing business with Lithuania. Insights from a local expert.

The podcast explores the Lithuanian market's current state, major business sectors, and business culture. Saulius Racevicius, a Lithuanian expert with 30 years of experience in finance, notes Lithuania's economy is resilient and open, resembling those of Germany and the Netherlands due to its diversified economy and reliance on exports, especially services. Joining the EU in 2004 was a game-changer, expanding the market access for Lithuanian businesses to 500 million consumers. While traces of Soviet heritage exist, particularly among older generations, the business culture is now more aligned with the United States, emphasizing results and direct communication.