Three memoranda of understanding were signed on Friday with China Merchants Group at the Office of the Government. The memoranda were signed regarding Kaunas Free Economic Zone, Lithuanian Railways and Klaipėda State Seaport.
© Reuters/Scanpix

Prime Minister Algirdas Butkevičius received the Chinese delegation headed by Li Jianhong, Chairman of the Board of the Chinese state corporation.

"I would like to stress that Lithuania is ready to continue developing bilateral economic and trade relations and promote cooperation based on bilateral respect and equality," said Prime Minister Butkevičius at the meeting.

The head of Government highlighted the significance of the visit - as much as three memoranda of understanding were signed. "The initiative to sign memoranda of understanding with Kaunas Free Economic Zone, Lithuanian Railways and Klaipėda State Seaport signifies practical cooperation of our countries. These are the first steps seeking to attract investment from China and fulfil common goals in the area of logistics," said the Lithuanian prime minister.

The prime minister invited the Chinese representatives to attend Lithuania-China business forum Silk Road (Šilko Kelias), which will take place on 28-29 June and is organised by Klaipėda State Seaport and Lithuanian Railways.

"Silk Road is an opportunity to reach main markets of Central and Western Europe with 750 million consumers. Thus one of the most important Lithuania's transport strategy plans is to expand cooperation with China connecting one of the biggest global economies with European Union countries," said Butkevičius.

According to Li Jianhong, Chairman of the Board of the state corporation China Merchants Group, vast investment opportunities exist in Lithuania and China together with Lithuania is looking to create a logistics corridor linking Asia and Europe.

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