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The second Ukrainian-Lithuanian forum, held in Kyiv with the participation of the Presidents of Ukraine and Lithuania, members of the governments, business associations, businesses, has strengthened a pragmatic component in bilateral economic cooperation. Over 320 entrepreneurs from both countries have managed to agree on a joint action plan to strengthen cooperation and contacts between Ukrainian and Lithuanian companies. What is more, a number of agreements, namely on interaction in the IT sector, organization of exhibitions, and other issues have been signed.
In particular, the participants in the event discussed investment cooperation, advantages and peculiarities of doing business in the markets of Ukraine and Lithuania, the possibility of setting up joint ventures, cooperation in free economic zones and industrial parks in Lithuania.
As President of the Ukrainian League of Industrialists and Entrepreneurs (ULIE) Anatoliy Kinakh has said, the forum has a very clear task – to considerably develop business relations, as the economic potential of both Ukraine and Lithuania is much higher than foreign trade figures demonstrate.
"Our contacts are systematic in nature: we've implemented a number of projects, conducted business forums and meetings. The business councils we've created together with the Lithuanian Confederation of Industrialists work on a regular basis. As many as 250 companies with Lithuanian capital work in Ukraine now. The largest Lithuanian companies, representatives of big corporations that show particular interest in privatization in Ukraine are also present here today. They may become investors in Ukrainian ports and agri-businesses, for instance," he said.
The ULIE has been implementing a number of projects with the Lithuanian side, namely a project for the use of specialized lasers, the creation of water treatment systems, reconstruction of infrastructure in small towns, the development of small- and medium-sized enterprises, energy efficiency and so on.
The parties also agreed on the training of Ukrainian specialists in Lithuania. What is more, Lithuanian partners are particularly interested in Ukrainian information technology, agriculture, construction, architecture, etc.
In turn, they have already been assisting Ukraine and will continue to provide significant assistance with adaptation to EU technical regulations and standards, sharing experience in successfully entering the European market and gaining a foothold there.
"Ukraine is now going through the processes that Lithuania has once addressed, namely export diversification, successful development of the economy, including within the EU framework. Now we are ready to share this experience with you. A large delegation of Lithuanian businesses, including many potential investors, has come to Ukraine. I think it's very good that our bilateral economic contacts have this good political support. After the success of the first economic forum in Vilnius we've decided to create a platform for regular business meetings. We also constantly monitor and evaluate the results that have been achieved," Vice-President of the Lithuanian Confederation of Industrialists Arunas Laurinaitis has said.
The forum included such thematic sections as "Environment and Energy," "The First Year after the Signing of the Deep and Comprehensive Free Trade Agreement (DCFTA) with the EU," "Investment and Business Development," and a meeting of the Ukraine-Lithuania Business Council.
An important topic, in addition to investment, energy saving technologies (Lithuania's core expertise), was the creation of complex engineering projects for water treatment in Ukraine, which involves rivers and the water areas of the seaports. This subject at the forum was covered by heads of such Lithuanian companies as UAB "GROTA," UAB "Traidenis" and others that specialize in that area.
Traditionally, the forum enjoys high status, as it was attended by President of Ukraine Petro Poroshenko and President of Lithuania Dalia Grybauskaite for the second consecutive year. They confirmed the readiness to significantly strengthen economic and cultural ties. Grybauskaite in particular stressed Ukraine needs to do its own "homework:" root out corruption, boost corporate social responsibility, and establish dialogue within the "government-business-society" triangle.
The second Ukrainian-Lithuanian forum was organized by the ULIE, the Lithuanian Confederation of Industrialists, the Chambers of Commerce and Industry from both countries and the Chambers of Commerce and Industry of Vilnius and Kyiv. Traditionally, this event is attended not only by members of the business community, but also by the heads of state, government officials and experts.