New opportunities for cooperation were explored at the Lithuanian-Ukrainian Economic Forum
During the visit of the President of the Republic of Lithuania Gitanas Nausėda to Ukraine, the traditional VI Ukrainian-Lithuanian Economic Forum took place. This year, the forum organized by the Lithuanian Confederation of Industrialists (LPK) and the Ukrainian Union of Industrialists and Entrepreneurs (USPP) invited Lithuanian and Ukrainian business representatives to share experiences and develop cooperation in the fields of transport, logistics and infrastructure, renewable energy and energy efficiency.
More than 180 representatives of Lithuanian and Ukrainian companies participated in the forum “Economy and Pandemic: Crisis and New Opportunities”.
In his opening speech, President G. Nausėda noted that in this difficult period, Lithuania and Ukraine, facing an unprecedented public health crisis and the accompanying economic downturn, must plan measures in advance to help ensure economic recovery. The importance of strengthening economies was emphasized.
The fact that the sixth economic forum of both countries is taking place shows that such a format is necessary for both countries. According to LPK President Vidmantas Janulevičius, the period since the last forum will be assessed by both business and society through the prism of the changes and challenges caused by the coronavirus pandemic. The COVID-19 pandemic is not only the biggest health crisis of the century, but also an economic crisis. For business, this period has become a year of great challenges: a global pandemic, cracked supply chains, Brexit and others. It is clear that this year will be another year of challenges, during which we will have to stand on our feet after the second wave of quarantine – Ukraine faces the same challenges.
“A close partnership between business organizations or individual companies can counterbalance the prevailing economic and political instability, especially among partners who have long-term experience of cooperation. In 2020 there were a total of 61 Lithuanian capital companies operating in Ukraine. The latest data of the Lithuanian Department of Statistics show that the volume of investments amounted 706 million EUR and increased by as much as 18% over the year. I believe that we have considerable potential for the development of bilateral cooperation, only the obstacles that both the Ukrainian authorities and foreign experts are talking about need to be removed. The changes which have been started in Ukraine must be continued,” LPK President V. Janulevičius emphasized in his speech.
USPP President Anatoly Kinakh stressed that such indicators of bilateral economic cooperation have been achieved through close business cooperation between the two countries. According to him, Ukraine is interested in Lithuanian business experience in modernizing industry, adapting new technologies, and important environmental and logistics issues.
During the event, the leaders of the two organizations organizing the Forum signed memoranda on the implementation of green technologies, cooperation in the field of transport and cooperation in overcoming COVID-19.
The Plenary Session was also attended by the Minister of Economy and Innovation of the Republic of Lithuania Aušrinė Armonaitė, the Minister of Economic Development, Trade and Agriculture of Ukraine Igor Petraško, the Minister of Transport of the Republic of Lithuania Marius Skuodis, the Minister of Energy of the Republic of Lithuania Dainius Kreivys and others.
