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Lithuanian PM notes importance of cooperation between Europe, Asia at ASEM Summit

BC, Vilnius, 17.10.2014.Print version
Lithuania’s Prime Minister Algirdas Butkevicius who is attending the 10th Summit of the Asia-Europe Meeting (ASEM) in Milan has talked at the first session on Thursday about promotion of financial and economic growth by enhancing co-operation between Europe and Asia, informs LETA/ELTA.

The prime minister said that co-operation between Europe and Asia is key for the promotion of financial and economic growth. According to Butkevicius, it is crucial that the growing trade between the two continents takes advantage of the existing transit corridors such as Klaipeda Seaport as well as other logistics chains. The prime minister noted that the Baltic States have well-developed infrastructure which would meet Asian countries' business demands when transporting goods to the European Union.

 

The prime minister said that further efforts to develop the East-West transport corridor are necessary not only to sustain but strengthen economic growth.

 

In addition, the prime minister drew attention to regional problems – the armed conflict between Russia and Ukraine. Butkevicius said that smooth economic co-operation is impossible when aggression against neighbouring countries is used and such actions cannot be tolerated.

 

During the 10th Summit of the Asia-Europe Meeting (ASEM), Prime Minister of Lithuania Algirdas Butkevicius met with Prime Minister of Malaysia Najib Razak.

 

Butkevicius underscored the need to strengthen bilateral relations, especially economic co-operation, and encourage exchange programmes in the area of education and culture.

 

The Lithuanian prime minister said that substantial progress in economic co-operation has been made in 20 years since Lithuania and Malaysia established relations. For example, bilateral business council was created, first letters of intent were signed, trade has increased. Nonetheless the potential has not been fully used and there are many areas for bilateral business projects.

 

Lithuanian and Malaysian trade turnover totalled EUR 9.6 million in 2013. However, in the first half of 2014 compared with the same period of 2013 export to Malaysia increased sharply by as much as 52%. This was due to considerable growth in demand of certain products.






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