Lithuanian traders should focus on region in China to boost growth, says expert

  • 2014-09-29
  • By Rayyan Sabet-Parry, RIGA

(photo: twitter)

Lithuanian traders should focus of developing solid business ties with a Chinese city in order to boost trade, a leading businessman as said.

Robertas Dargis, head of the Lithuanian Confederation of Industrialists (LPK), is convinced that cooperation of producers is one of the main keys which can open vast markets to Lithuanian goods.

"Let us not start saying that we will bring goods to China. China is so enormous in size that next to it, Lithuania would not even be a spot on that map," Dargis said.

"We must have a strong partnership with some region or city in China with around 30 million residents, which would be just enough for Lithuania.

"We must also consolidate our produce. We have some good meat producers, however, we cannot export the required amounts to China. We must find several products, several brands that could really enter the market there. This has to do with cooperation and partnership."

According to Dargis, the business sector does not give too much prominence to the lowered revised forecasts of GDP and other economic indicators by the Bank of Lithuania.

He said that the LPK has been working together with the Ministry of Foreign Affairs and the Ministry of Economy on an export markets' map for Lithuanian produce. The map is clearly dominated by China. According to the LPK president.

Lithuanian producers who want to penetrate such a vast market as that of China, must both focus on one particular region in China and consolidate their economic potential.