The US Baltic Strategic Investment Summit 2023 in The Yale Club of New York City

The US Baltic Strategic Investment Summit 2023 in The Yale Club of New York City

On Monday, September 18th, 2023 the Baltic American Chamber of Commerce (BACC) hosted the US Baltic Strategic Investment Summit 2023 at the Yale Club in New York City. This event encouraged inclusive growth and the strengthening of economic and strategic relations between the U.S. and the three Baltic States — Lithuania, Latvia, and Estonia.

This event featured an extensive list of impressive speakers including the presidents of the Baltic countries. In total, 150 BACC members, speakers, sponsors, and distinguished guests participated in the Summit, contributing their unique perspectives and insights to the dynamic dialogue.

Glimstedt is one of the founding members of The BACC, and Partner Egidijus Bernotas is Initial Director of the BACC Board.

The first panel, ‘Mutual Benefits of U.S. Investment in the Baltics and Untapped Potential’, was moderated by Alvar Soosaar, Director of US Investment and Trade at Ministry of Foreign Affairs of Estonia. This engaging discourse with three Baltic States economic development heads Joonas Vänto, Director, Estonian Investment Agency, Enterprise Estonia, Kaspars Rožkalns, Director General at Investment and Development Agency of Latvia, and Elijus Čivilis, General Director of Invest Lithuania revolved around exploring the abundant opportunities and navigating the intricate challenges within the dynamic Baltic market.

Second, ‘The U.S. – Baltic Trade Relationship’ panel, moderated by Robin van Puyenbroeck, Executive Director of Business Development at World Trade Centers Association, focused on trade and perspectives between the U.S. and Baltic States. Peter Sexton, Director of the Global Financial Services Team, Senior International Trade Specialist, U.S. Department of Commerce in New York City introduced export initiatives for the US companies, and CEOs of the Baltic companies Elizabeth Kiehner, Chief Growth Officer of Nortal (Estonia), Sandis Kondrats, CEO of Exonicus (Latvia), and Dmitri Sobolevski, CEO of Glassbel Baltic (Lithuania) shared their business success in the US market.

Next, ‘The Three Seas Initiative (3SI)’, moderated by Ian Brzezinski, Senior Fellow at Atlantic Council explored the expanse of lucrative commercial prospects within the Three Seas region.

Following 3SI was the ‘Keynote Address’, moderated by Peter Spiegel, US managing editor of the Financial Times. This panel provided the Baltic presidents The Hon. Gitanas Nausėda, President of Lithuania, The Hon. Edgars Rinkēvičs President of Latvia, The Hon. Alar Karis, President of Estonia with an inclusive platform to share their insights regarding the U.S.-Baltic partnership.

Lithuania’s membership in the EU – is a true success story

During the meeting with the potential investors, Gitanas Nausėda, President of Lithuania pointed out that the political closeness between Lithuania and the US creates excellent conditions for the expansion of economic cooperation. Gitanas Nausėda stressed that he sees a lot of potential for cooperation between Lithuania and the US in the fields of life sciences, information technology, cyber security and fintech.

The Head of State presented the achievements of the Lithuanian economy, attractive investment environment as well as rapidly developing and particularly investment-friendly sectors of economy to US companies.

“What we have managed to create in Lithuania over the last decades can be referred to as an economic miracle. Our membership of the European Union is a true success story. Even during the pandemic, we managed to maintain stability when most countries were in recession. In the future, I see new opportunities for increased economic cooperation between Lithuania and America in yet another area—green technologies and net-zero industries,” the Lithuanian leader added.

According to President Gitanas Nausėda, Lithuania is actively investing in its security and energy independence, and is continuously improving its investment environment, business, and digital infrastructure. Gitanas Nausėda underlined that Lithuania is distinguished by its large pool of highly skilled talents, and that cooperation between science and business yields excellent results in terms of producing professionals for the labor market.

Lunch with 3 Baltic Stars’

After the address from the presidents, ‘Partnership between the U.S. and Baltic States in strengthening economies, and rebuilding Ukraine’, moderated by Katya Soldak, New-York-based journalist, and the editorial director of Forbes Media’s International Editions, focused on cooperation in expanding economies’ relations and helping rebuild Ukraine. Panelists: Edward Mermelstein, Commissioner, NYC Mayor’s Office for International Affairs; Sergiy Glazunov, President & CEO rebuilding Ukraine Agency; Henri Klemmer, CEO of Hepta Airborne.

The event was concluded with the ‘Lunch with 3 Baltic Stars’, moderated by Philip M. Berkowitz, Co-Chair of U.S. International and Financial Services Practice Group, Littler, highlighted the stories of three impressive companies – Estonia’s unicorn Glia, Latvia’s unicorn Printful, and Lithuania’s largest investor in the US Northway Biotech – that developed out of the Baltic region.

The Baltic American Chamber of Commerce (BACC), the proud host of this esteemed Summit, is a New York-based organization dedicated to the promotion, advancement, and guidance of business relations between the United States and the Baltic States. It is laser-focused on helping its members’ businesses to build, grow and thrive on both sides of the Atlantic. The success of the US Baltic Strategic Investment Summit 2023 serves as a testament of the dedication of BACC to achieve its mission.

Glimstedt is one of the founding members of The BACC, and Partner Egidijus Bernotas is Initial Director of the BACC Board.


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