The Lithuanian Ministry of Finance announced that Lithuania, Latvia, Estonia and the European Bank for Reconstruction and Development have signed an updated memorandum on developing a common Baltic capital market. The update to the 2017 agreement sets the direction for a joint action plan to integrate and deepen the region’s capital markets, with the stated long-term aim of enabling the Baltic States Index to meet the criteria for MSCI Emerging Markets classification. Planned measures include removing obstacles to cross-border investment, improving the interoperability of capital market infrastructure, and strengthening links between Baltic and other central securities depositories to facilitate settlement and market access. The initiative also aims to promote new stock exchange listings, attract issuers ranging from small and medium-sized enterprises to large companies, develop new financial instruments, increase retail investor activity, and assess whether regional investment funds should be established in strategic sectors including green energy, technology and infrastructure. Implementation will be overseen by a Steering Committee, which will draw up the detailed action plan, identify remaining legal and regulatory barriers to cross-border activity, and coordinate further capital market development initiatives, including a pan-Baltic sandbox platform and a unified regional market brand.

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