Lithuania and Dnipropetrovsk region: search of common business interests

On May 28, 2019, during the visit of the Lithuanian business delegation headed by the Vice-Minister of Economy and Innovation of the Republic of Lithuania, Ekaterina Rojak, as well as the Ambassador Extraordinary and Plenipotentiary of the Republic of Lithuania to Ukraine Marius Janukonis, a business seminar was held in Dnipropetrovsk Regional State Administration: “Lithuania ̶ Ukraine: the experience of the European Union for the Dnipro “.

The main goal of the event was the development of a partnership between Ukrainian and Lithuanian businesses, and a dialogue with representatives of Dnipropetrovsk enterprises.

In welcoming the forum’s participants, Oleg Kuzman, the first deputy head of the Dnipropetrovsk regional state administration, said: “Ukraine and Lithuania are developing a strategic partnership and forming a common business environment. Relations between Lithuania and the Dnipropetrovsk region have always been characterized as partnership”. He also thanked the Lithuanian side for supporting Ukraine on the international scene and assisting in the rehabilitation and treatment of JFO participants.

“The Vilnius Chamber of Commerce and Industry is an active business partner of Dnipropetrovsk region. We are constantly organizing missions of Lithuanian companies, sharing experience, which is necessary to Ukrainian business for the development of business relations in the European Union. Thus, foreign trade turnover of goods of the region with Lithuania increases every year: exports  – by 33.0% ($ 32.2 million), imports – by 12.6% ($ 23.7 million). We hope that close business relations between Lithuania and the Dnipropetrovsk region will strengthen the position on the European market “, – said Sigitas Leonovichus, president of the Vilnius Chamber of Commerce, Industry and Handicrafts. He also thanked to the Honorary Consulate of the Republic of Lithuania in Dnipro, Vitaliy Pivnyak, for promoting development of bilateral business contacts, interregional cooperation, carrying out cultural and informational events, as well as protection of the rights and interests of Lithuanian citizens in the territory of the consular district.

The investment and economic potential of  Dnipropetrovsk region was presented by Alim Molodan, deputy director of the Dnipropetrovsk Regional Investment Agency (DIA), who noted: “In 2018, foreign trade turnover of goods from the Dnipropetrovsk region with the Republic of Lithuania amounted to $ 55.9 million. This increased exports and amounted to $ 32, 2 mln or 9.4% in the total value of export of goods from Ukraine to Lithuania.  In general, from the region to Lithuania were exported: ferrous metals, electric machines, ferrous metal products, plastics, polymer materials, residues and wastes from food-processing industry, nuclear reactors, boilers, machinery, as well as wood and wood products. The Lithuanian side also supplied: plastics, polymer materials, mineral fuels; oil and products of its distillation, nuclear reactors, boilers, machines, rubber, electric machines, fertilizers to Dnipropetrovsk region.”

The priority directions for investing and proposals for the creation of joint ventures with Ukrainian partners were presented to the representatives of the Lithuanian business. Detailed information is verified here.

The event was attended by representatives of 15 Lithuanian companies (in the field of designing, producing and installing energy, building materials and technologies, IT services), as well as the Vilnius Chamber of Commerce and Industry, The International Energy Cluster, experts from the Dnipropetrovsk Regional Investment Agency, the leadership of the Dnipropetrovsk Chamber of Commerce and Industry and the Dnipropetrovsk Regional State Administration, as well as the representatives of Ukrainian business.

During the business forum, Ukrainian business representatives held B2B meetings and established business contacts with Lithuanian companies.

The experience of the Republic of Lithuania considering in effective adaptation of the economy to the standards and practice of the European Union is very valuable and indicative for Dnipropetrovsk: Lithuania, which joined the European Union 15 years ago, actively shares its experience in implementing of high standards of European governance.