On Monday, representatives of Lithuanian business associations and representatives of municipal authorities as well as the Government, signed the Memorandum of Good Business Practice during the Adoption of the Euro.
Prime Minister Algirdas Butkevičius
© DELFI / Šarūnas Mažeika

According to Prime Minister Algirdas Butkevičius, the Memorandum is a voluntary agreement between government and businesses to work together.

Among those who signed the memorandum was Prime Minister Algirdas Butkevičius, Minister of Finance Rimantas Šadžius, Deputy Minister of Economy Rasa Noreikienė, various associations of retail companies, industrialists, hotels and restaurants, businesses, agriculture, banks, and representatives of such major companies as Maxima LT, Palink, Norfos Mažmena, Rimi Lietuva, Senukai, Apranga, Topo Grupė, Lietuvos Kooperatyvų Sąjunga (Lithuanian Union of Cooperatives).

Until 1 January, when Lithuania is officially adopting the euro, Lithuanian enterprises, business representatives, municipalities will be able to join the Memorandum on a voluntary basis. By signing the Memorandum, they will assume a commitment to be fair with consumers during the euro adoption process, i.e., not to use it as an excuse for raising prices and to ensure fair conversion and display of prices of services and goods.

All those joining the Memorandum will acquire the right to use the logo "Perskaičiuota Sąžiningai" (Converted Fairly) created especially for this purpose and to mark trading and service provision sites with it, use it in advertisements, official documents and events as well as to inform consumers that they follow the principles established in the Memorandum.

The Law on the Euro Adoption in the Republic of Lithuania stipulates that in case of undue conversion of the values of goods or services from the litas to the euro or non-compliance with other requirements of the Law, warnings and fines will be imposed.

It is forbidden to copy the text of this publication without a written permission from ELTA.

Vilnius Airport waits for make over: 130 mln eur to be invested

Around 130 million euros will be invested into the expansion and reconstruction of Lithuania's largest...

Payment company Paysera cancels its STO

Lithuanian-owned payment services company Paysera has canceled its security tokens offering (STO),...

Baltic clothes retailer overhauling its chain

Apranga , the Baltics' leading clothing retailer, is overhauling its retail chain to improve the...

New proposal aims to unlock ‘black box' of the agri-food supply chain

Having banned unfair trading practices and improved producer cooperation, the European Commission...

Fighting cyber security threats: list of secure network's users approved

The Lithuanian government approved on Wednesday a list of institutions and organizations that will...