Digitalisation and cooperation will push the EU forward
According to Rebekka Weiß, head of Trust & Security at Bitkom, the real-time economy depends on cooperation between businesses across multiple countries. Other German-Lithuanian Economic forum panellists also agree that the future of Europe’s economy is digital, and that the continent’s growth will depend on how countries develop their IT infrastructure, integrate it with other sectors, and how that will ultimately affect cooperation.
Now, let us see what the participants of the discussions had to say about digitalisation, cooperation and building the future.
Digitalization is finally reaching governments and older industries
Panellists representing German and Lithuanian IT companies and associations have noticed that many European powers, notably Germany and France, are lacking in terms of connectivity, use of internet services, digital public services, particularly regarding the use of open data and digital technologies in the public sector. Mindaugas Glodas, the CEO of NRD Companies, contends that smaller countries like Lithuania are more agile and could help prod countries such as Germany to speed up their digitalisation.
To this end, governmental institutions must start dialogue with one another and share data to build trust. In such a case, this would allow stakeholders to use self-identification online, open business and use public services – fuelling Europe’s economy.
Big opportunities for Lithuanian-German cooperation.
During the economic forum, it was noted that the melting away of international borders is beneficial for everyone in our continent as this allows significantly closer cooperation. Indeed, for Mindaugas Ubartas, the CEO of Infobalt, an association of Lithuania’s IT industry, such collaboration is especially relevant for Lithuania, as the country is highly competitive in both current and upcoming technological sectors.
Ubartas continues that this presents an opportunity for Lithuania to work with Germany. After all, it is s a leading exporter of industrial goods globally: He explained: “This way we can get a better competitive edge not only for Lithuania but for the whole EU. We have a very good situation in regard to IT infrastructure in Lithuania: we can sign digitally, open company digitally, get services from companies and the public sector online. We need to start building a data economy. That would be my dream.”
As stated, Trust & Security head Rebekka Weiß, the real-time economy depends on cooperation between businesses and different countries. “We need to start working together, and we need to trust the technology. This is the only way we will be able to gain customers all over the world. European countries should not view each other as competitors,” she continued.
The German-Lithuanian Economic Forum panellists unanimously agree that Europe must push for the faster rollout of digital infrastructure. This would help develop other sectors and improve citizens’ quality of life as digitalisation would encourage adaptation of smart homes for cities and regions.
Both Lithuania and Germany are doing great at implementing the latest networks, open data policies and Industry 4.0 standards, but closer integration in Europe in terms of data sharing would bring the whole continent significant competitive advantage over the rest of the world.
Lithuania rebounded to its former highest place in the world competitiveness index published by the Swiss Institute of International Management (IMD). In 2022, it ranks 29th among 63 countries.
Lithuanian life science innovation will again be on display at the 2022 BIO International convention in San Diego. Innovation Agency Lithuania will showcase 8 leading Lithuanian biotech stars on the Lithuanian pavilion demonstrating why Lithuania is one of Europe’s fastest-growing life science hubs. All are looking to build stronger links with the US which is already the country’s biggest market accounting for 28% of its life science exports in 2021.