Development of trade relations between Lithuania and other countries

Export of Lithuania

Export of Lithuania

Political and economic crisis is caused by the deterioration of relations between Russia and Europe and it brought negative impact on the economy of the European Union, but at the same time, many countries got new opportunities for their development and improvement.

Lithuania is one of such countries and it has mostly flexible economy. As the result, Lithuania started the process of searching for new trade markets.
If earlier the majority of products and services were exported to the Russian Federation, so nowadays possibilities are totally different and wide at the same time. Countries in Africa, Asia, South America etc. gradually open their doors for agricultural products from Lithuania.

Iran, for example, has expressed its interest in the possibility of closer cooperation in the field of science, commerce and veterinary medicine. Today trade with Iran plays significant role for the Republic of Lithuania, in the structure of exports Lithuania gets 5th rank among all 122 countries, and in 2014 export growth constituted 9,5% or EUR 237,7 million. The main products of export to Iran is wheat, but there are strong plans to increase trade with dairy and meat products.
The ability to meet the requirements of halal has given to Lithuanian companies export prospects of beef to Iran.

Furthermore entrepreneurs want to export meat products to the countries of North Africa. The charges stemmed from posts by official agencies of these countries on the resolution of the Lithuanian exports of beef and cattle. Almost all the documents from veterinary inspections are got, so now it is possible to export products to Tunisia and Morocco.

Countries of Latin America are another promising direction; Chile is the main of them. 10 major Lithuanian companies are now ready to offer their products to Chile country, namely they are Joint-Stock Company Pieno zvaigzdes, Joint-Stock Company Zemaitijos pienas, Joint-Stock Company Vilkyskiu pienine, Joint-Stock Company Rokiskio suris, LLC Rokiskio pieni gamyba, Ukmerges pienine, LLC Marijampoles pieno konservai.

All certificates have already been agreed with the main departments in Chile and export will be started soon.

Strengthening economic, political and cultural relations between Lithuania and China

Huge prospects are opened for Lithuania in cooperation with China. Market of 1,4 billion people of China is certainly huge and prospective market, moreover Lithuania and its products are interesting and popular among residents of China.

Further development of economic cooperation and implementation of large-scale joint projects will accelerate the growth of the Lithuanian economy, will contribute to the increase of new jobs and the overall well-being of people.

Lithuania is interesting for businessmen from China because of its good geographical location, modern transport system and infrastructure, large and new logistics centers in Lithuania.

The largest Chinese companies in the financial services show great interest to invest in Lithuania. The main of them are IZP Technologies group company, which provides financial services to its customers.

Globebill company, which belongs to IZP Technology group also plans to carry out cross-border payments in Europe in the nearest future.

Also, there are constant negotiations between Lithuania and China in order to obtain permission for export milk and meat products to China.

It should be noted that according to statistics from the Republic of Lithuania, for the period from 2011 to 2015, export of goods and services from Lithuania to China tripled, moreover Lithuania nowadays is interested in export of high technologies, particularly lasers to China.

In addition Lithuania together with Klaipeda port is interested to take part in restoration of the Silk Road in order to unite Europe and Asia. Cooperation agreement between the ports of Klaipeda and Shenzhen (China) are already signed.

Prospects are huge and attractive. Many Chinese businessmen decided to immigrate to Europe and maintain effective business between China and the European Union.

For Chinese businessmen business immigration to Lithuania is easy and quick process  to immigrate to Europe. Foreigners can register company in Lithuania or buy ready-formed company, can hire workers and on this basis to get residence permit in Lithuania and to live freely in Lithuania, traveling all over Europe, without any visas, permits or restrictions.

Also citizens of China are the leaders in immigration to Latvia today. They buy real estate in Latvia and can receive residence permit in Latvia on this basis.

It doesn’t matter which option foreigner choose, he has great prospects for business development, integration into society and maintaining happy and carefree life.


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