The bilateral trade between India and Lithuania stands at mere US$ 193 million biased in favour of India. The Indian Baltic Chamber of Commerce works towards fostering regional ties between India and Lithuania besides other European economies. The Lithuanian economy specializes in the production of fertilizers, laser technology, biotechnology, optical components and food products. The thriving consumption markets of the India may be explored to export these productions of Lithuania. On the similar lines, India may trade products of its comparative advantage namely organic chemicals, textiles, leather and leather products, metal ores, etc with Lithuania said Mr. Gediminas Citukas, President, Indian Baltic Chamber of Commerce of Lithuania during an interactive meeting organised by MVIRDC World Trade Centre and All India Association of Industries with the Indian Baltic Chamber of Commerce.
Mr. Citukas further added that the Indian-Baltic Chamber of Commerce is a public non-profit enterprise established in order to promote information, trade, investment, education and other economically constructive relationships between India and Lithuanian Republic and other European Union countries. The Chamber activities include seminars, conferences and business forums to initiate cross-border trade and investment opportunities with India.
In this pursuit the Indian-Baltic Chamber of Commerce signed an MOU with the MVIRDC World Trade Centre Mumbai and All India Association of Industries to promote cross border trade and investment between the two economies.
Earlier, in her welcome address Ms. Rupa Naik, Executive Director, All India Association of Industries and Director – Projects, MVIRDC World Trade Centre noted that the present economic and trade relations with the Lithuania have been insignificant. The signing of the MOU between the organizations will open greater avenues for mutual cooperation.
Ms. Naik extended a warm invite to Lithuanian companies to participate in the 4th Global Economic Summit on “Asia…..the Gateway to the largest market, Vision 2025” scheduled from 11th to 13th September 2014.
Further business meetings from the sectors of construction, food products, consumer products, durable goods, etc were held.
From (L-R): Ms. Khyati Naravane, Assistant Director – Trade Promotion, MVIRDC World Trade Centre, Ms. Rupa Naik, Executive Director, All India Association of Industries and Director- Projects, MVIRDC World Trade Centre, Mr. Gediminas Citukas, President, Indian Baltic Chamber of Commerce, Ms. Tripti Chakravorty, Assistant Director- Trade Research & International Trade Promotion, MVIRDC World Trade Centre, Mr. Y. R. Warerkar, Executive Director, MVIRDC World Trade Centre, Mr. Povilas Staigis, Head of Business Development and Innovation, Tegra, Mr. Sailesh J. Khele, Sales & Business, Golden Hospitality Services Pvt. Ltd. during an interactive meeting with Indian Baltic Chamber of Commerce organised by MVIRDC World Trade Centre (WTC) and All India Association of Industries (AIAI).