Lithuanian firms ready to enter Chinese market

More Lithuanian firms are ready to enter China's market in 2014, new trends show.

One-fifth of the major producers are planning active development in China, whilst 43 percent of food industry firms have such plans.

An analyst with the Lithuanian Confederation of Industrialists Aleksandras Izgorodinas said that the serious interest of Lithuania's companies in China's market was encouraged by the European Union (EU) market recovery.

"Due to the vulnerable state of Russia's economy and expected EU market recovery, Lithuania's companies pay more attention to the new markets and especially China's market," said Izgorodinas.

While striving to strengthen and develop the economic and trade relations with china, the Confederation of Industrialists is establishing the Council of Lithuania-China Business. The Government plans to contribute to the activities of the council.

At the moment, the export to China makes up 0.45 percent of Lithuania's export.