Empire State Development Announces New International Partnership Agreement Between New York State and Lithuania

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A factual summary is pending editorial review. The complete official release is reproduced below with issuer attribution and a direct link to the original publication.

Official release

Source material from New York Empire State Development. The wording below is the issuer’s statement.

Memorandum of Understanding Will Strengthen Trade, Investment and Innovation

Agreement Focuses on Financial Technology, Cybersecurity, Life Sciences, Advanced Manufacturing, Photonics, Defense and Clean Energy

New York and Lithuania Exchanged More Than $200 Million in Bilateral Trade in 2025

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Empire State Development (ESD) today announced an international collaboration between New York State and the Republic of Lithuania to strengthen economic cooperation, increase trade and investment, and foster collaboration in key innovation industries. The agreement builds on more than three decades of formal cooperation between New York and Lithuania and establishes a framework for expanded business, academic and research partnerships.

“New York and Lithuania share a long history, strong cultural ties and a commitment to democracy, innovation and economic opportunity,” Governor Hochul said. “This will build on that foundation by creating new opportunities for New York businesses, strengthening connections between our innovation economies and opening the door to greater trade and investment. As global competition intensifies, partnerships like this will help ensure New York remains at the forefront of the industries shaping our future.”

Minister of Foreign Affairs of Lithuania Kęstutis Budrys said, “Today, we are elevating our longstanding economic cooperation to a new level, with a focus on mutual areas of strength. From financial technologies and life sciences to cutting-edge laser technologies and clean energy, our trade and investment ties are on a path of consistent growth. This Memorandum will provide new avenues for New York businesses to discover opportunities in Lithuania and encourage more Lithuanians to grow their businesses in New York State.”

Empire State Development President, CEO and Commissioner Hope Knight said, “This agreement creates a stronger bridge between New York and Lithuania’s dynamic innovation economies, connecting companies, researchers and entrepreneurs in sectors where both are positioned to grow. By expanding opportunities for trade, investment, research collaboration and technology commercialization, we can help New York businesses reach new markets, attract new investment and build partnerships that support jobs and long-term economic growth.”

The agreement also encourages increased business exchanges, joint events and projects, academic and research collaboration, technology commercialization and connections among startups, established companies, universities, investors, accelerators and other organizations across the innovation ecosystem.

New York and Lithuania have maintained formal economic ties for more than three decades. In October 1991, New York signed an International Partnership Program Memorandum of Understanding with Lithuania, establishing formal cooperation between the two governments.

That relationship is supported by growing commercial ties. New York exported more than $112 million in goods to Lithuania in 2025, while imports from Lithuania totaled $89.2 million. Through July 2026, New York exports to Lithuania increased by nearly 49 percent compared with the same period a year earlier. Leading New York exports to Lithuania include vehicles, electrical machinery, pharmaceutical products, optics and medical instruments, and cosmetics.

About Empire State Development

Empire State Development is New York's chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state's 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state's world class tourism destinations through I LOVE NY. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook, and X.

Contact: ESD Press Office | [email protected] | (800) 260-7313

Release text attributed to New York Empire State Development. Consult the official publication for any subsequent corrections or updates.