Negotiations on a free trade agreement between the European Union and the United States of America may in principle be launched during the Lithuanian Presidency of the Council of the EU. Both sides would derive considerable benefit from the agreement: it would help both the US and the EU Member States to find an easier and quicker way out of the economic crisis, increase their gross domestic product (GDP) and create more jobs.

The matter was discussed at the first meeting between Gediminas Kirkilas, Deputy Speaker of the Seimas and Chair of the Committee on European Affairs, and Deborah Ann McCarthy, US Ambassador Extraordinary and Plenipotentiary to Lithuania, working in Vilnius since the beginning of the year.

The latest estimates show that a comprehensive and ambitious agreement between the EU and the US can be highly beneficial resulting in the annual growth of the EU GDP by 0.5% and the US GDP by 0.4% by 2027, which would translate into €86 billion additional annual revenue and €65 billion additional annual avenue in the EU and the US respectively.

Mr Kirkilas and Ms McCarthy also talked about the priorities of the Lithuanian Presidency of the Council and a potential visit by Mr Kirkilas to Washington in mid-July. The Lithuanian Embassy will hold a solemn event to mark the start of the Lithuanian Presidency of the Council of the EU. There are also plans to hold meetings with Members of the US Congress, Chamber of Commerce and the media.

Morta Vidūnaitė, Adviser to Gediminas Kirkilas, Deputy Speaker of the Seimas, tel: +370 5 239 6278, mob: +370 612 01121, e-mail: [email protected]