Bilateral trade and economic cooperation between Ukraine and Lithuania could return to the pre-crisis level, which is over $1.5 billion, in the coming years thanks to the activity of the two countries’ business structures, while close cooperation will ensure the accelerated development of certain sectors of the economy of both states. First of all, Ukrainians are interested in the adoption of energy-saving technologies, the development of business infrastructure, the adaptation of production to EU standards and regulations. Lithuanian partners are in dire need for Ukrainian specialists and are ready to invest in the Ukrainian market and place foreign orders on it as outsourcing.
This was discussed at the conference titled “Ukraine and Lithuania: Investment and Business Opportunities,” which was held in Kyiv. The event was a practical continuation of the economic forums held at high levels and traditionally organized by the Ukrainian League of Industrialists and Entrepreneurs (ULIE), the Lithuanian Confederation of Industrialists, the Chambers of Commerce and Industry, and other partners. This time the conference touched on practical aspects of work in both countries, opportunities to boost investment, advantages and problems of doing business and other issues.
“Lithuania and Ukraine have not only built a good partnership, but also created an atmosphere of trust and friendship, which will help us achieve concrete results. The countries have reached the unprecedented level of cooperation and are in many ways complementary: Lithuania is now a member of the European Union, it has developed business infrastructure, the IT sector; Western investment is actively injected in our country. In turn, Ukraine has a huge potential in terms of economic development, human resources, the agricultural sector,” Ambassador of Lithuania to Ukraine Marius Janukonis said.
ULIE President Anatoliy Kinakh drew attention to the need for further implementation of reforms in Ukraine that would be conductive to a favorable business and investment climate. They include further currency liberalization, land market regulations, an improvement in taxation and other issues.
