Business / Economy

Lithuania to strive for common projects with China

(Xinhua) Updated: 2014-10-16 09:51

VILNIUS -- Lithuania will continue to develop political cooperation with China for the purpose of encouraging efficient and streamlined economic relationship between the two countries, Lithuanian Economy Minister Evaldas Gustas told Xinhua on Wednesday.

A few promising cooperation projects are being explored in Lithuania, Gustas said in an interview with Xinhua.

"Today we already have good examples of such cooperation," he said.

Among those was the cooperation between the free economic zone Kaunas FEZ and Chinese companies.

"Last year a memorandum of understanding between Kaunas FEZ and CAMCE-SINOMACH was signed. It must be underlined that the cooperation between FEZ in Lithuania and Chinese companies has our support and we hope that CAMCE-FEZ Kaunas cooperation will become a state of the art pilot project for this larger ambition," the minister noted.

According to him, the search for new export markets is among one of the main challenges for the current Lithuanian government.

"Diversifying of export markets is vitally important in seeking to reduce the risks of Lithuanian businesses in foreign markets and ensuring stable export growth," Gustas said.

Gustas believed that common business and research projects on innovation and R&D issues between the two countries would be highly advantageous.

"The cooperation between Lithuanian and Chinese scientists and business could be fostered using EU structural funds and the European Commission's largest R&D and innovation program, HORIZON 2020 funds," said the minister.

"Lithuania is interested in attracting the participants from China to collaborate in Horizon 2020 projects in different thematic areas like ICT, health, nanotechnologies, biotechnologies,

space technologies, photonics, energy, transport," etc, he added.

During the interview, the minister expressed his hope that Chinese investors would consider the possibilities of developing their businesses in Lithuania.

Chemical and engineering industries, transport and logistics, biotech, lasers and ICT sectors could be areas for closer cooperation, according to the minister.

The Ministry of Economy has been implementing a number of measures related to the search of new markets and export promotion,

including financial support instruments and services to businesses.

Lithuania to strive for common projects with China

Lithuania to strive for common projects with China

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