Economic relations between Lithuania and China growing stronger


The President meets with Vice Premier of China Zhang Gaoli


Monday, June 22, Vilnius – President Dalia Grybauskaitė met with Vice Premier of China Zhang Gaoli. The meeting focused on opportunities to further strengthen economic cooperation between the two countries and implement joint projects.

“Economic cooperation between Lithuania and China is intensifying. Our exports to this country are increasing and business ties are growing stronger. We should exploit the potential of cooperation with one of the largest economies in the world. It will advance our economic growth and the well-being of our people,” the President said.

Lithuania is a transit-friendly country with its sophisticated transportation system and rapidly developing logistics. Chinese entrepreneurs are interested in opportunities to invest in our country and are establishing business contacts with Lithuanian companies, including organization of Lithuanian-Chinese business forums.

Financial services company IZP Technologies Group is interested in investing in Lithuania; its affiliate Globebill is considering the possibility to develop financial services business in our country. This company is the largest crossborder payment settlement platform in Asia.

Lithuania also maintains intensive collaboration with Shandong, one of the largest and richest provinces of China. We enjoy strong business, cultural relations and educational exchanges with this province.

Among the other issues discussed at the meeting was enhanced cooperation between Lithuania and China in the sphere of agriculture. It is necessary to complete as soon as possible negotiations on permission for Lithuania to export dairy and meat products to China.

Over the past four years, Lithuanian exports to China have tripled. Lithuanian business is keen to export high technologies, e.g. lasers, to this country.

President Dalia Grybauskaitė and the Chinese Vice Premier also discussed political cooperation at bilateral and EU levels. It is important to continue strengthening the China-EU partnership and explore ways to cooperate not only in the sphere of economy but also in promoting international security.




Information prepared by Press Service of the President


Author: BalticAsia

Professional approach to Japan, China, and South Korea.

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