Lasers â€“ Lithuania’s high-tech product

Lithuanian laser industry maintained the growth rate of the recent years in 2008 and managed to reach 16% more in the sales of products compared with 2007. The majority of Lithuanian companies’ income is generated by creating lasers for the scientific research market â€“ Lithuania’s lasers and its components make up nearly 10% of the total world market. The amount equal to 86% of the all products created by Lithuanian laser companies was exported in 2008.

According to Laser and Light Science and Technology Association president Professor Algis Piskarskas, laser sector outlook in Lithuania remains optimistic even in the global economic recession conditions. "The most economically developed countries perceive the upgrade of production technology as recourse of the crisis, therefore they do not reduce the financial support for advanced scientific researches. In addition, lasers are becoming particularly demanded when there is an increase in production efficiency and speed, they are also widely used in solar element production ", - said Professor A. Piskarskas.

Since 2003 Lithuania’s laser sector sales increased almost 2.5 times, six new laser manufacturing companies were established. "Laser sector created added value accounts for two thirds of the output price, while labour productivity of Lithuanian laser industry exceeds the country's economic performance by more than two times. It is because of the efficiency we are able to successfully compete in the global market, "- he added.

Priority for the promotion of export

In order to boost exports and to address the complex effects of the economic situation in Lithuania, the Government approved the special guarantees of marketable credit legislation project prepared by the State Ministry of Economy to regulate the marketable credit insurance in the presence of law, when the state bears a share of the marketable credit insurance risk.

Currently, the offering of state’s special guarantees is not regulated due to the prohibition of Lithuanian business entities’ marketable credit and the guarantee authorities established by the state cannot provide adequate guarantees. The situation is expected to be changed as soon as possible.