Chancellor of the Government: Lithuanian business looking for opportunities in China’s market


2019 05 31

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Chancellor of the Government Algirdas Stončaitis has met with You Quan, Head of the United Front Work Department of the Central Committee of the Communist Party of China to discuss the good and friendly bilateral relations, and express appreciation of the recent visits of China’s top officials in Lithuania, particularly focusing on the bilateral commercial and economic cooperation. It has been emphasised that China is a very important Lithuania’s trade partner, and that trade and investment between both countries has been gaining momentum, particularly the cooperation in financial technologies, lasers and life sciences.

‘Small as it is, Lithuania happens to be a very active member of the European Union, and we can be for you a country of opportunity in the European Union. Therefore, we invite and encourage China’s companies to use Lithuania as a gateway to the European market. We invite you to continue our close cooperation in looking for new opportunities in each other’s markets and further strengthening our bilateral relations’, said Algirdas Stončaitis.

 He has invited China’s Minister for Finance and the Head of the National Bank to participate in 17 + 1 (China, Central and Eastern Europe) High-Level Financial Technology Forum to be held in Vilnius on 27 November.

He also welcomed the opening of China’s market for Lithuanian agricultural products, as well as trade relations in the food sector. The Chancellor has pointed out high quality products offered for the far-away market. A protocol on the export of Lithuanian wheat to China, signed back in April 2019 at the Summit of Central and Eastern European Countries & China, is expected to increase the volume of Lithuanian exports.

The Chancellor of the Government has ensured Lithuania’s continued active participation in the format Central and Eastern European Countries & China (17 + 1), and emphasised the importance of people-to-people contacts in the bilateral relations. There has been growing tourism flows from both countries.

The Chancellor of the Government is to visit China next week. The agenda includes a visit to China’s Ministry of Foreign Affairs, a meeting with the Chairman of the National Development and Reform Commission. Algirdas Stončaitis is also to address the participants from China, Central and Eastern Europe (17 + 1) and Expo participants, also the participants of the Road and Belt Conference, and the Lithuania-China Business Forum.