Business / Economy

Information, knowledge exchange needed under Belt and Road Initiative: Lithuanian expert

(Xinhua) Updated: 2015-08-06 09:49

VILNIUS - A local expert on cooperation between China and Lithuania told Xinhua Wednesday that practical exchange of information and knowledge is needed to promote China's Belt and Road Initiative in the Baltic country.

"Lithuanian business communities are very positive towards the Belt and Road Initiative, and our business community is looking forward to starting cooperation in real terms," Osvaldas Ciuksys, chairman of Lithuania-China business council, told Xinhua in an interview.

"Our companies would like to know more how they could participate, together with Chinese companies, in the specific projects," he added.

"As we understand, the initiative is a starting point to create junctions in infrastructure, and of course, it's also broadened to other sectors," he said.

Ciuksys said the initiative is also interesting to people in academics, culture and other fields.

"We know that Asian Infrastructure Investment Bank (AIIB) and New Silk Road Fund were created. We need much more information for our companies because they would like to analyze the real terms, real conditions, how they can participate with Chinese partners," Ciuksys added.

In his view, Chinese companies could start with small businesses in the Baltic country, including buying some companies here. This experience could cultivate trust between the two sides, and help build teams for Chinese companies in Lithuania.

In order to make companies from the two countries know each other better, the Lithuania-China business council has plans to hold conferences in Lithuania and organize delegations to China.

From beginning of 2014 when the council was established, it has been working on improving the business conditions between the two countries. "It's a time to harvest the fruits now," said Ciuksys.

The Baltic country's competitive location, membership of EU and euro zone, and its railways, roads, non-frozen port, logistics centers, as well as favorable tax policies and lower operational cost have been attracting companies from China such as the China Merchants Group and payment operator IZP Technologies.

Lithuania could be a gateway for Chinese markets to enter Europe's market, the expert said.

Regarding Chinese companies' investment and involvement in business in Lithuania, Ciuksys said they should listen to local advisory companies who have very good knowledge in order to make their business successful.

Ciuksys believes it's the right moment to talk about specific cooperation projects. The year 2016, the 25th anniversary of establishment of diplomatic relations between the two countries, will be a very good opportunity for the two sides to cooperate, he added.

According to him, Lithuania has enhanced its presence in China by sending attaches of agriculture and culture.

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