Nicosia, Cyprus. Lithuania’s Finance Minister Kristupas Vaitiekūnas said Cyprus and Lithuania can deepen cooperation, particularly in tourism and defence, during the informal ECOFIN meeting in Nicosia.
Scope for closer Cyprus-Lithuania ties
Speaking to the Cyprus News Agency on the sidelines of the EU finance ministers’ gathering, Vaitiekūnas said the two countries share more common ground than may be apparent and identified untapped opportunities for businesses and people to cooperate, including in tourism and defence.
He said both countries face similar challenges, including security concerns such as drone threats, and both rely significantly on their financial sectors.
ECOFIN agenda and regional risks
Vaitiekūnas said discussions at the meeting would cover the global economic outlook, the oil crisis, fiscal stability across Europe and measures to address rising fuel prices.
He said Europe would consider how to respond if the situation in the Middle East is not resolved, warning that continued instability could lead to further economic disruption, particularly through energy markets.
Housing affordability and energy policy
The minister also pointed to housing affordability as a key issue, citing sharp increases in property prices in Lithuania, especially in major cities such as Vilnius.
On energy policy, he said a coordinated European response could include a unified mechanism supported by shared expertise and targeted measures.
What steps should Cyprus and Lithuania take first to expand cooperation in tourism and defence?
