“Direct contact with these interesting companies, which make products not only for civilians, but also for the armies of various countries, should be useful to our companies. International corporations are interested in increasing orders for small and medium-sized businesses,” it quoted Vaidotas Malinionis, the association’s director, as saying.
With EU member countries and NATO increasing their defence spending, it is estimated that Lithuanian defence industry companies may boost their exports to 900 million litas (EUR 261m) in 2020, from 85 million litas in 2014.
Malinionis forecasts that in the next five years, the association will bring together around 200 companies with 1.4 billion litas in combined annual revenues and 500 million litas in aggregate contributions to the state budget.
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