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22 May 2015

Belarusian-Lithuanian economic forum in Marijampole on 8-10 June

MINSK, 22 May (BelTA) – The 11th Belarusian-Lithuanian economic forum will take place in Marijampole, Lithuania on 8-10 June, representatives of the Embassy of Belarus in Lithuania told BelTA.

The forum will focus on trade, economic and investment cooperation between Belarus and Lithuania, including interaction in the field of logistics, transport, transit, financial markets and banking services, agriculture and food industry. Belarusian organizers of the forum include the Economy Ministry, the Ministry of Foreign Affairs, the Embassy of Belarus in Lithuania, relevant central government agencies. The Lithuanian organizers are the Lithuanian Confederation of Industrialists, the Lithuanian Business Council for Economic and Trade Cooperation with Belarus, industry-specific associations of businessmen, and the Embassy of Lithuania in Belarus.

Participants of the forum are expected to discuss the state and prospects of development of Belarusian-Lithuanian cooperation in various spheres, will examine the experience of Lithuanian business in Belarus, and the possibility of developing joint projects in Lithuania. Panel sessions will be held to discuss interaction in finance and banking services, transport and logistics, agriculture and food industry. A presentation of investment projects in Belarus’ agriculture will take place.

As part of the forum meetings and negotiations will be held between representatives of government agencies and the business circles of the two countries. A tour of the leading industrial enterprises of the Marijampole region will be arranged.

Representatives of the Embassy of Belarus in Lithuania told BelTA that Lithuania is one of the top European foreign trade partners of Belarus. The two countries effectively cooperate in transport, transit, and investment. The bilateral trade in merchandise and services develops at a good pace. The forum is expected to further intensify trade, economic, scientific, technical, and humanitarian cooperation and to advance economic integration between Belarus and Lithuania.

In 2014 Belarus-Lithuania trade reached $1.4 billion. In January-March 2015 the figure was close to $300 million. In 2014 Lithuanian investments in the Belarusian economy reached $233.5 million, 31% up from 2013. Direct investments exceeded $190 million, 80% up. In Q1 2015 the total volume of investments amounted to $57.5 million, including $46.9 million in direct investments.

In Belarus there are over 600 enterprises with a share of Lithuanian capital and there are about 250 companies with Belarusian investments in Lithuania.

Enterprises have been set up in Lithuania to assemble MTZ tractors, MAZ trucks, make radiation control equipment and architectural glass. There are plans to start assembling Amkodor machines in 2015.

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