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.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Baltic States seek a single regional assessment

Ministers of finance of Lithuania, Latvia and Estonia, the European Commission and NASDAQ appealed...

LMT presents three digital service innovations at Baltic Mobile Congress

LMT (Latvian Mobile Telephone) is the telecommunications market leader in Latvia and a digital service...

CERN is considering the possibility of establishing business incubation centre

Last week, CERN delegation paid a visit to Kaunas University of Technology (KTU) Santaka Valley. The...

Israeli cloud services integrator chooses Vilnius for European base

TeraSky, a leading Israeli cloud solutions integrator, has just announced the opening of its European...

The popular French fashion brand „Gémo“ enters the Baltic States: first store in Lithuania – in 2019

The popular French fashion brand „Gémo“ entered the Baltic States - the first regional store was...