Lithuanian Business Club opens in Kaliningrad

VILNIUS (BNS) - Lithuanian general consul in Kaliningrad, Ricardas Slepavicius, hopes Russia's "Kaliningrad Oblast Lithuanian Business Club" created this week will help defend the interests of Lithuanian business people.

On Thursday the club's founding articles were adopted and a board of directors was elected during it's opening conference.

Stanislovas Jucius, general director of the construction firm Rosslitstroi, was named the club's president.

Slepavicius told BNS the club will attempt to solve the common problems of Lithuanian business people operating in Kaliningrad and will give aid to new investors.

He said the club's establishment makes it easier for the Lithuanian state to defend the interests of its business people.

The club will also engage in informational activities, organizing exhibitions, seminars and publicizing information, and will also try to participate in the formation of Lithuania's economic policies in Kaliningrad.

Slepavicius said around 400 companies with Lithuanian capital are registered in Kaliningrad, although only around 200 are actually in operation.

During the first nine months of this year the turnover in trade between Kaliningrad and Lithuania reached around $61.5 million.

Kaliningrad exported goods worth $20.6 million to Lithuania and Lithuania's exports to Kaliningrad amounted to $40.8 million.

Last year the volume of trade between Kaliningrad and Lithuania reached $60 million.

Lithuania has invested more than $8 million in Kaliningrad. The largest single foreign investment in Kaliningrad is the Lithuanian company Klaipedos Maistas subsidiary Kaliningrado Delikatesas.

The Lithuanian company has invested more than $5 million in the firm.