Minister of Finance T. Valys in Helsinki: Lithuania and Finland have the potential to work even more closely in strengthening European security and capital markets
Minister of Finance Taurimas Valys is on a working visit to Helsinki, Finland, where he met with Minister of Economic Affairs of Finland Sakari Puisto, who is also responsible for financial markets. During his visit, the Minister discussed the priorities of the Lithuanian Presidency of the Council of the European Union (EU), defence funding, support to Ukraine and strengthening of European capital markets.
“Lithuania and Finland are close partners in the Nordic-Baltic region, so we have many common interests and areas where we can work together. Security, sufficient defence funding, support to Ukraine and deeper European capital markets are issues the resilience and competitiveness of Europe as a whole depend upon. We look forward to Finland's support and close cooperation when Lithuania takes over the Presidency of the Council of the EU in the first half of 2027”, Minister of Finance T. Valys said.
According to the Minister, during the Presidency of the Council of the EU, Lithuania plans to focus on five key areas: strengthening EU security and defence, EU competitiveness and economic resilience, internal security and crisis preparedness, social security and the enlargement of the EU, and protection of European values.
In the area of finance, one of the most important priorities of the Lithuanian Presidency will be ensuring further financial support to Ukraine, considering its budgetary and defence funding needs. The Minister underlined that it is of utmost importance to ensure Ukraine's long-term financial resilience if the Russian aggression continues.
The Minister also emphasized the importance of defence funding. Lithuania allocates about 5.4% of gross domestic product (GDP) to defence this year, and the State Defence Council has decided to allocate 5%–5.5% of GDP annually to defence in 2026–2030.
The meeting focused on the development of European capital markets. According to Mr T. Valys, Lithuania supports the goal of the European Savings and Investment Union (SIU) to create deeper, more integrated and competitive capital markets. According to the Minister, household savings accumulated in Europe are not yet effectively channelled into investment, therefore, strengthening of capital markets is important for European economic growth, innovation and competitiveness.
During the visit, Mr T. Valys highlighted the potential of Northern Europe and the Baltic region in this area, emphasizing that closer regional cooperation could help to increase cross-border investments, broaden participation of investors and improve companies' access to capital.
Last updated: 02-09-2026