Lithuania's Interior Minister Dailis Alfonsas Barakauskas, who presided over the meeting, said the sports sector generated a measurable and extensive economic and social value for national economies.
"Calculations suggest that the sports sector contributes to European economic growth and reduction of unemployment, also playing a key role in creation and maintenance of community spirit and social cohesion," the minister said in a press release.
According to the press release, studies of economic contribution of sports have so far been carried out by six countries, namely, Austria, Cyprus, Germany, the Netherlands, Poland, the United Kingdom, with analysis launched in Lithuania earlier this year.
The Lithuanian presidency of the EU Council also said delegations of some countries expressed concern over human rights violations during Sochi Winter Olympics in Russia.
Unnamed delegations "raised a question whether a country organizing the games will be able to secure non-discrimination of participants and viewers for their birthrights," reads the press release.
Russia has come under criticism from Western democracies over a law which bans "propaganda of homosexuality."