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Lithuania-Ukraine business cooperation discussed

BC, Vilnius, 23.07.2015.Print version
A meeting of the Business Council for Economic and Trade Cooperation between Lithuania and Ukraine was held at the Lithuanian Confederation of Industrialists (LPK). The Business Council addressed business development potential in Ukraine and promotion of bilateral economic cooperation, informs LETA/ELTA.

Gintautas Pangonis, President of AB Grigiskes and the outgoing Chairman of the Business Council, introduced the achievements of 2013-2015. Afterwards, Sigitas Leonavicius, Director General of UAB Traidenis, was elected the new Chairman.

 

The meeting discussed the most important tasks of the Business Council – strengthening of its activities and providing assistance to companies, with particular attention on making contacts and consolidating in the market. A representative of the LPK will start working in Kyiv and is expected to have a positive effect on these objectives.

 

It was noted that the planned meeting of the Business Council in Kyiv on 26-27 August and Lithuania-Ukraine economic forum in November should also contribute to business development opportunities.

 

A development cooperation project under implementation by the LPK was also touched upon. The Lithuanian Confederation of Industrialists will transfer to the Ukrainian League of Industrialists and Entrepreneurs its experience of working with the European Union funds.

 

The Business Council was attended by Marius Janukonis, Ambassador Extraordinary and Plenipotentiary of Lithuania to Ukraine, and Rimantas Segzda, Lithuania's Commercial Attache, who shared their insights about political and economic situation in Ukraine, future development prospects and cooperation opportunities.

 

Trade turnover between Lithuania and Ukraine totalled EUR 1.1 billion in 2014. It was twofold smaller than trade turnover with Belarus. Thus, clearly, the existing economic potential has not been fulfilled. In 2014, export from Lithuania to Ukraine stood at EUR 905 million, while import at EUR 205 million.






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