China–United States trade war offers a chance for Lithuanian exporters to stand out
The economic tension between the US and China could be beneficial for Lithuania, since China has been putting all of its efforts seeking to improve its trade with other states by opening its market to foreign suppliers. This can be proved by the China’s first organised international trade fair “China International Import Expo”, held on 5-10 November, with 18 Lithuanian companies participating in it.
“China International Import Expo” promises to be an unprecedented business-event in China. As the organisers claim, the fair has attracted more than 2.8 thousand companies from over 130 countries and regions, and their goods and services will be assessed by more than 160 thousand registered customers from 80 thousand Chinese and foreign companies. At this fair, which is exclusively held for foreign producers and suppliers wishing to import to China, Enterprise Lithuania has organised two national stands aimed for producers of textile and consumer goods and the food industry. At the fair, the 18 companies will occupy the area of more than 160 sq. meters.
“Lithuania has been putting much effort to be among the states recognised and favoured by the 1.4 billion-consumer market. We are the first state in the world to have accepted the invitation to participate in the fair. This demonstrates our firm belief that the trade with China is our future – an attitude, which the Chinese appreciate and encourage a lot. Even after the end of the official registration to the biggest event of the year, which the whole global business community had been waiting for, Lithuanian companies were still trying their chances to register to the event.
According to Daina Kleponė, the trade relations with China have been becoming more intensive. The export of Lithuanian goods to China, which was launched in 2012, has more than doubled, and last year, it reached EUR 130 million. In the first half of this year, Lithuanian companies sold goods for more than EUR 70 million. As analysts of Enterprise Lithuania estimate, representatives of the Lithuanian traditional industries, such as furniture, textile and food producers, have high prospects in the Chinese market.
“We started preparing for the fair as early as in January. We see the interest of Chinese companies, which has been further encouraged by our intensive communication from the very start of the year in the Chinese media. The highlights about Lithuania and the preparation for the participation in the fair were broadcast by the country’s major state TV channel CCTV,” Mrs. Kleponė says.
According to her, the interest of the Chinese in Lithuania was also demonstrated by a considerable growth in the number of followers of the Lithuania’s official profile in the social network “WeChat”. The social network “WeChat”, which is very popular among the Chinese, is one of the means of communication used for personal and business needs. Before the fair, the number of followers of Lithuania was more than 2 thousand users.
“Lithuania is an attractive trade partner for China, because we are a member of the European Union, and this means that our products are of highest quality and meet the safety and environmental requirements. Lithuanian producers are flexible, and they can offer to curious Chinese consumers such products the Chinese have never seen or heard of,” claims the CEO of Enterprise Lithuania.
The following Lithuanian companies are participating in the stands organised by Enterprise Lithuania: “Decoflux”, “Omniteksas”, “Alviva”, A. Juknos studija “A+L”, ARS MAJOR, BONUM FATUM, “Aromika”, “UNO parks”, “Imlitex China”, “Klara Faustina”, “Gudobelė”, “Mantinga”, “Vilroka”, “Vilniaus alus”, “Tandemus”, “Daumantai”, “Pieno žvaigždės”, “Melt Water”.
The events of the opening ceremony of the fair “China International Import Expo” on November 5 are being attended by President of the Republic of Lithuania Dalia Grybauskaitė accompanied by the Minister of Economy Virginijus Sinkevičius.
In recent years African countries have been among the fastest growing economies in the world, while the huge potential of the continent in the field of information and communications technology (ICT) is predicting further growth. The European Union (EU) is determined to focus more attention on the digitalisation of Africa and digital economy development, with European ICT companies expected to play an important role.
According to Statistics Lithuania, total exports of goods increased by 7.3 per cent over 2018 to EUR 28.3 billion. Exports of goods of Lithuanian origin (excluding energy products) grew by 8.2 per cent to EUR 13.4 billion. Re-exports of goods (excluding energy products) grew by 5.1 per cent to EUR 10.7 billion.