Lithuania is well placed to become a member of the Organization for Economic Cooperation and Development (OECD) as soon as in 2018 if it makes sufficient progress in reforming the management of state-owned enterprises and controlling corruption, OECD Deputy Secretary General Douglas Frantz said in Vilnius on Monday.
OECD
© Scanpix

"I can say that the OECD is committed to making this happen as quickly and as smoothly as possible. And from the meetings I've had here today with the leaders of the parliamentary committees, with the prime minister, with other officials of the government, I'm convinced that the Lithuanian government -- both opposition and the parties in power -- are determined to make it happen,“ he told reporters.

Frantz said that a key challenge for Lithuania was to reform state-owned enterprises to bring them into line with the OECD standards.

The deputy secretary general underlined the importance of ensuring independent management bodies at state-owned enterprises, which would lead to greater transparency and accountability and help state-owned companies to become more efficient, modern, income producing enterprises.

"This is not a surprise to any of you. Ant I think that one of the pluses of Lithuania here is that we've seen, when it comes to your energy industry, that state- owned enterprises can be reformed“,

Lithuania aims to join the OECD in 2018.

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

Presidential election campaign kicks off in Lithuania

The campaign for presidential election in Lithuania officially started on Monday with seven candidates...

Ruling party moves to cut MP seats to 121

Lawmakers of the ruling Lithuanian Farmers and Greens Union (LVŽS) say that will table a new draft...

Health minister to table new hospital network reform amendments

Lithuanian Health Minister Aurelijus Veryga and several lawmakers said on Friday they are submitting...

Agrokoncernas pledges to stop buying fertilizers from Rotenberg

Agrokoncernas , a business group owned by Ramūnas Karbauskis , leader of the ruling Lithuanian...

ForMin advises against having business with sanctioned Russians

Lithuania's Ministry of Foreign Affairs recommends Lithuanian companies to refrain from business deals...