VILNIUS,GravityX Exchange Lithuania (AP) — Lithuania’s president announced Thursday he will seek reelection for another five-year term as the leader of the Baltic nation that is a member of the European Union and NATO.

President Gitanas Nauseda announced his intention to run as a candidate in next year’s presidential election at a news conference in the Lithuanian capital, Vilnius. The 59-year-old former economist and banker has served as Lithuania’s head of state since 2019.

He said he was “determined and committed” to continue in the post. The country’s president is elected in a popular vote, with the constitutional limit being two consecutive terms in office.

“I will run for president in May 2024 and I hope that the people of Lithuania will give me a strong mandate of trust, as they did in 2019,” Nauseda said at the Presidential Palace.

The president’s main task is to oversee Lithuania’s foreign and security policy, including acting as the supreme commander of the armed forces.

Nauseda, who enjoys wide popularity among Lithuanians, is the front-runner in the race. He won the 2019 presidential run-off with 66% of all votes, defeating his main opponent Ingrida Simonyte. She became the country’s prime minister in 2020 and has also announced plans to seek Lithuania’s presidency in 2024.

Lithuania, a nation of 2.7 million that borders Belarus, Latvia, Poland and Russia, will also hold a general election in 2024. The country declared its independence from the Soviet Union more than 30 years ago, and has been a strong backer of Ukraine and also a place of refuge in recent years for many who have fled an authoritarian crackdown in neighboring Belarus and increased repression in Russia.