Lithuania is a country very open to international trade. As a member of the EU, Lithuania implements the EU common trade policy with low tariffs in international trade. However, regulatory trade barriers in use still pose a problem, mostly in the field of required standardization of imported goods. Good transportation infrastructure makes importing or exporting relatively easy and cheap, while quick and uncomplicated customs’ administrative requirements further facilitate free trade. However, as elsewhere in the Baltics, railroad is much less developed than other forms of transport, creating constraints and increasing costs. In January 2015, Lithuania became a member of the European Monetary Union (EMU), replacing its former national currency, the litas, with the euro. This is
envisaged to further increase the volume of trade, eliminating currency exchange costs (the currency risk was already reduced with the introduction of the currency board between the litas and the euro in 2002). Movement of capital is mostly unobstructed, but certain restrictions on the movement of short-term capital remain. The EU citizens have the same legal rights and obligations in the labour market as do the nationals, but working permits’ obtaining for third party nationals is complicated, involving lengthy procedures.