MINSK, 8 July (BelTA) – Lithuania is an important partner of Belarus in the sphere of transit. Belarusian Deputy Economy Minister Dmitry Yaroshevich made the relevant statement during the online meeting held to discuss Belarus-Lithuania trade and economic cooperation after the pandemic, BelTA has learned.
The official said that Lithuania is one of the leading economic partners of Belarus. “We consider our cooperation as a top-priority direction of our foreign economic policy. Lithuania has been traditionally one of the top 10 foreign trade partners of Belarus. In 2019 the country ranked seventh in terms of the volume of trade and sixth in terms of the volume of Belarusian export,” he continued. “Lithuania is also an important partner in the sphere of transit. The use of capabilities of Lithuanian railways and the Klaipeda sea port for the sake of transit of Belarusian exports to third countries is of great importance for us.” Dmitry Yaroshevich added that Lithuanian stevedoring companies are constantly interested in cooperation with Belarusian companies taking into account the latter's bona fide business practices. It is one of the key avenues of Belarus-Lithuania cooperation, he stressed.
Positive dynamics in Belarus-Lithuania trade in services was registered in the last few years. In 2019 Lithuania ranked third in terms of trade in services and fourth in terms of the Belarusian export of services. In 2019 trade in services was close to $900 million, 8.1% up from 2018.
The deputy economy minister said: “The level of investment interaction is also an example for many partners of ours. Lithuania has been traditionally one of the top ten investors in the Belarusian economy. In 2019 it ranked seventh in terms of the volume of foreign direct investments among all the investor countries and fourth among countries of the European Union. Some 3,000 companies with European capital operate in Belarus, including 575 companies with Lithuanian investments. In turn, about 250 companies have been established in Lithuania using Belarusian investments.” In his words, the National Agency of Investment and Privatization actively interacts with its colleagues in Lithuania and directly with the investors, who have expressed their interest in working in Belarus.
According to Dmitry Yaroshevich, joint projects are being successfully implemented in Belarus in association with Lithuanian companies in such spheres as woodworking, retail, production of medications, power engineering, civil engineering, and agriculture. “I would also like to note the interest of Lithuanian business circles in working in the China-Belarus industrial park Great Stone. In 2019-2020 Lithuanian companies started working in the park within the framework of projects meant to set up enterprises to make medications and electric scooters. These are illustrative examples, however, we should move on and find more and more spheres of mutual interest. With this in mind we will continue working on improving the investment climate and the system of interaction with and support for investors, we will improve the effectiveness of the already established investment raising procedures,” the deputy economy minister noted.
Dmitry Yaroshevich added that colleagues from Belarus and Lithuania should also think together about possible new forms of interaction. The deputy economy minister said he hopes that after a break this year Lithuanian colleagues will consider the possibility of organizing a session of the Belarus-Lithuania commission on trade and economic cooperation. “A bilateral economic forum is another effective platform for a dialogue. I am convinced that our joint plans to arrange the 15th Belarusian-Lithuanian economic forum in Klaipeda in H2 2020 will also allow organizing a joint discussion of the most topical issues in bilateral cooperation in economic sphere and will allow laying the groundwork to expand contacts of business circles. It is also necessary to resume the active work of the Belarusian-Lithuanian business council,” the official stressed.
