Lithuania is the fourth biggest supplier for Ikea after Poland, Italy and Germany. Furthermore, the Swedish furniture and home accessory retailer has plans to expand in Russia, which is a convenient destination for Lithuanian production.
© DELFI / Orestas Gurevičius

Aivaras Čičelis, deputy president at SEB Bank and head of Corporate Banking Division, said that “there were fears before that Lithuanian furniture makers would be pushed out of business by the Chinese and Indians, but this sector benefited from the financial crisis, when everyone was looking for cheap furniture and turned to Ikea, which sells Lithuanian production.“

Mr. Čičelis said that Ikea has offered Lithuanian companies, SBA and General Wood Group, to set up joint companies in Belarus and Russia.

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