President of the Republic of Lithuania

Transparency is the key basis for Lithuania‘s economic well-being

Monday, April 29, Vilnius - President Dalia Grybauskaitė participated in the roundtable discussion on business integrity and its importance for the economy of Lithuania and the region, hosted by the Organization for Economic Co-operation and Development (OECD).

The participants of the roundtable - representatives of the OECD, the Lithuanian Government, the Financial Crime Investigation Service, the Lithuanian Confederation of Industrialists, the Investors' Forum, the Baltic Institute of Corporate Governance, Transparency International Lithuania, academic sphere and non-governmental organizations - are sharing their experience, expertise and valuable insights on fighting corruption and developing business integrity.

"It is only by committing to the principles of transparency in politics and business we can achieve progress and ensure economic well-being. The experience of our neighbors - the Nordic countries, Germany and other members of the Organization for Economic Co-operation and Development - shows that those countries where transparent state institutions are in place and where business is committed to the principles of fair practice enjoy faster economic growth and lower unemployment," the President said.

Aiming to curb political corruption and ensure fair competition in Lithuania, new tools to fight illicit enrichment, contraband, and tax evasion have been introduced at the President's initiative in the past several years. The measures also include restriction of legal entities' support for political parties and amendments to the Enterprise Bankruptcy Law which serve to preclude unfair transactions and ensure more transparent bankruptcy procedures.

Lithuania ranks 48th out of 176 countries in the Corruption Perception Index 2012. Therefore, the Government, the business community and the civil society must put their efforts together and use the OECD's experience more effectively.

The President wished the participants of the event an interesting and successful roundtable discussion as well as strong commitment in bringing about positive changes.

Press Service of the President

Last updated 2013.04.29 09:18