President of the Republic of Lithuania

The President’s visit to China: new horizons for Lithuanian businesses

2018-10-29

Monday, October 29, Vilnius  On November 2, President Dalia Grybauskaitė is leaving on a working visit to Shanghai at the invitation of President Xi Jinping and the Chinese government.

The Lithuanian and Chinese presidents are scheduled to meet in the largest city of China – Shanghai. The two heads of state will discuss bilateral relations as well as new export opportunities for Lithuanian producers in the billion-strong Chinese market. Special focus will be placed on cooperation between China and the European Union, climate change, global trade, and international efforts to secure peace and stability in the world.

President Dalia Grybauskaitė will visit the First China International Import Expo and attend a dinner for heads of state hosted by President Xi Jinping. Taking part in the opening ceremony will be 16 heads of state and government.

The President of Lithuania will launch one of the three main exhibition forums on trade and investment and will deliver a speech at a special event designed to highlight the development of FinTech.

The First China International Import Expo marks a new stage in trade: the world’s largest exporter China is taking concrete action to open its market to foreign-made goods. It offers new opportunities for Lithuanian exports and businesses, too.

The President will visit the pavilions of Lithuania and meet with Lithuanian business people. Eighteen Lithuanian companies will display their products in two pavilions at the Expo. In one of them, Chinese consumers and visitors will be able to taste Lithuanian breads, dairy products, sauces, and other varieties of Lithuanian food. The second pavilion will present Lithuanian-made textiles, clothing, furniture, and interior designs.

Lithuanian companies are successful competitors on the Chinese market. Twelve percent of Lithuanian-made lasers are exported to China. Three laser manufacturers have their representations there.

Trading contacts between Lithuania and China are expanding. China is Lithuania’s second biggest trade partner in Asia. Last year, their bilateral trade turnover amounted to one billion euros. Lithuanian exports grew by 50 percent during the same period. Taking part in the Expo will be 130 countries and over 2800 companies from all over the world.

The First China International Import Expo will also open new opportunities to Lithuania’s FinTech sector. President Dalia Grybauskaitė will deliver a speech at a special FinTech event, which will be attended by 50 companies interested in cooperation with Lithuania and the European Union. With rapidly developing startups and a 40-percent sectoral growth on the year, Lithuania is emerging as a FinTech hub in Europe.

An agreement on cooperation in bank supervision and financial innovations will be signed between the Bank of Lithuania and China's Banking Regulatory Commission at the FinTech event.

Press Service of the President

Last updated 2018.10.30 10:03

Back