Trade between Lithuania and Portugal: Development opportunities

The purpose of this final paper was to investigate the trade relations between such countries as Portugal and Lithuania. Its goal is to provide a data about the trade between both countries and make an analysis of the given data.
Main method of an analysis was to make a data research. The statistical data was taken from statistical departments of Lithuania and Portugal. Main parts consist of a literature overview and data analysis that will help to understand the trade relations, legislative initiatives and EU requirements on a trade.
During this work, it was found that trade developing between Lithuania and Portugal is developing slowly. As Lithuania and Portugal are members of European Union they have big opportunities for a trade and its development. The access to the statistics of both countries helped to make an analysis of a trade.
1.3. EU requirements and need of a trade....................................................................................12
1.3.1 The benefit for business and citizens....................................................................13
1.3.2 General requirements for food products...........................................................13
1.3.3 New approach of product legislation....................................................................14
1.4. Overview of recent legislative initiatives............................................................................15
1.5. Barriers to trade between Lithuania and Portugal...............................................................19
1.5.1. Lithuanian barrier to trade.......................................................................20
1.5.2. Portuguese barriers to trade.....................................................................22
1.5.3. Developing the trade between Lithuania and Portugal...........................23
2. WORKING METHODS AND TOOLS...............................................................................24
3. WORK RESULTS AND DISCUSSION OF THEM........................................................25
3.1 Lithuanian international trade..............................................................................................25
3.2 Portugal’s international trade...............................................................................................29
3.3 Trade between Lithuania and Portugal..................................................................................33
CONCLUSION.................................................................................................................................40
REFERENCES................................................................................................................................41
INTRODUCTION
Relevance of the topic. Trade is the oldest and most important economic relationship between states. Results of trade policy we all feel every day, no matter what we do, no matter where we live. Without trade our opportunities that we have in life would be very limited. The most important argument for trade is to optimize efficient allocation of resources. This is elaborated in the law of comparative advantage. Other scenarios where trade is important include: decreasing cost, changing taste, technological advancement and information exchange.
Trade makes another, more debatable effect. This is...

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