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Valys: Lithuania and Finland can deepen cooperation on security and capital markets
🇱🇹 Lithuania /Economy & Trade

Valys: Lithuania and Finland can deepen cooperation on security and capital markets

From Delfi · () Lithuanian

Translated from Lithuanian and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement New plan
  • Lithuania and Finland discussed security, defence funding, support for Ukraine and the development of European capital markets during a meeting in Helsinki.
  • Lithuania plans to focus its 2027 EU Council presidency on security and defence, competitiveness, crisis preparedness, social security, enlargement and European values.
  • Lithuania is allocating about 5.4% of GDP to defence this year and plans to spend 5% to 5.5% annually from 2026 through 2030.

Lithuania is looking to Finland for closer cooperation on security, Ukraine and European finance as it prepares to take over the rotating presidency of the EU Council in the first half of 2027.

Finance Minister Taurimas Valys said the two countries share common interests as close partners in Northern Europe and the Baltic region. He identified security, adequate defence spending, continued support for Ukraine and deeper European capital markets as issues linked to Europe’s resilience and competitiveness.

Lithuania plans to organize its presidency around five priorities: strengthening EU security and defence, improving competitiveness and economic resilience, reinforcing internal security and crisis preparedness, protecting social security, and advancing EU enlargement and European values. In financial policy, Vilnius intends to focus on maintaining support for Ukraine, including its budgetary and defence needs.

Lithuania and Finland are close partners in the Northern European and Baltic region, so we have many common interests and areas where we can act together.

— Taurimas ValysValys described the basis for closer bilateral cooperation.

Valys said long-term financial resilience would be particularly important if Russia’s aggression continues. Lithuania’s Defence Council has decided that defence spending should reach 5% to 5.5% of GDP each year between 2026 and 2030, while current spending stands at about 5.4% of GDP.

The Helsinki meeting also focused on the European Savings and Investment Union. Valys said Lithuania supports deeper, more integrated and competitive capital markets because household savings in Europe are not being directed into investment efficiently enough. He highlighted the potential of closer Baltic and Nordic cooperation to increase cross-border investment, broaden the investor base and improve companies’ access to capital.

Security, sufficient defence financing, support for Ukraine and deeper European capital markets are issues on which Europe’s resilience and competitiveness depend.

— Taurimas ValysHe outlined the shared European priorities discussed with Finland.
About this summary

Originally published by Delfi in Lithuanian. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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