Lithuanian companies sees China as next alternative big market to Russia

Lithuania-China Business Council sees China as a big market for Lithuanian companies. Newly established at the beginning of this year, the council is aimed to increase Lithuanian-Chinese economic cooperation and promote Lithuanian exports to China as well as Chinese investments to Lithuania, Osvaldas Ciuksys, chairman of the council said on Monday.

The council is looking ahead to promoting bilateral trade between the two countries. Ciuksys stated during the interview with Xinhua, as the current bilateral trade and investment figures are not high.

The need to diversify the exports has an increasing importance for the Lithuanian companies and hence they are looking for alternatives markets with Russian market turning out to be less attractive and becoming unpredictable.

Ciuksys said that the council has started planning for promoting the bilateral cooperation. The Council has one particular project to offer for Lithuanian companies, which is the establishment of 3-5 Lithuanian products shops at the biggest shopping malls in the most important Chinese cities.

They will be coordinating this project and plan to open first 1-2 shops during the summer of next year.

Ciuksys also pointed out Chinese companies’ increasing attention of regarding Lithuania as a potential place for investments.

They see increasing number of Chinese business delegations as well as more Chinese companies having plans to participate in some specialized trade and service fairs this autumn.

Lithuania has the opportunity to export to China some of their specific textile products, amber jewelery and designed furniture.

The council recommends Lithuanian companies to pay attention to cities like Chengudu where competition of the world known brands is lower rather than only focusing on best known cities in the eastern part of China.