Lithuania and China agreed to facilitate cooperation between enterprises operating in science and technology parks

Today, on 9 September, Minister of Economy Evaldas Gustas met with Vice Chairman of the Science and Technology Commission of Shanghai ZuXin XU and the delegation, which she led. They discussed cooperation possibilities between Lithuania and China in the field of innovation and R&D. 

At the meeting, Director of the Agency for Science, Innovation and Technology Arūnas Karlonas and Vice Chairman of the Science and Technology Commission of Shanghai ZuXin XU signed the Memorandum of Understanding (hereinafter – the MoU) aimed to initiate and facilitate cooperation between the enterprises operating in the science and technology parks of Lithuania and China. The MoU was signed in the interest of consolidating the cooperation established between the businessmen and researchers of both countries and is expected to help carry out this cooperation in the targeted and coordinated manner. 

Vice Chairman of the Science and Technology Commission of Shanghai ZuXin XU emphasised that she welcomed increasing cooperation with Lithuania and saw good cooperation perspectives to be promoted in the future. This was also demonstrated by this first visit to Lithuania of high ranking officials of the Science and Technology Commission of Shanghai and their participation in the international Life Sciences Baltics 2014 Forum to which they were invited during Minister of Economy Evaldas Gustas’ visit to China in June this year.

According to the Minister of Economy, the promotion of internationalisation and clustering of the Lithuanian businesses is among the priority tasks of the Ministry of Economy. ‘We seek to create an efficient R&D and innovation system to tailor the technology needs of companies and to be attractive to innovators and companies from abroad. To pursue our objectives we seek to optimise the activities of science and technology parks and open these parks to innovative companies from both Lithuania and abroad. We encourage the creation of higher value added services, the transfer of knowledge, the commercilisation of research results and the development of innovative business,’ Minister of Economy said.

World class premises and business acceleration infrastructure disposed by global science and technology parks help develop favourable environment for the growth of companies and offer security to them. During the visit to China this June, the Lithuanian delegation was familiarised with the world class system of the science and technology parks of China.

‘Well-developed park network of both countries is a favourable place for continuous bilateral cooperation. Enabling exchange between companies may bring excellent results, especially in the field of export promotion. Chinese companies  will be offered proper conditions to better adapt to the existing conditions and concentrate on the products under development since we will take care of the main infrastructure and consulting. Enabling of exchange will help companies to better understand the European and Asian business culture and will open access to new markets,’ Minister Gustas said.

At the meeting, the potential of developing business and science cooperation of both countries was discussed along with the possibilities to carry out joint research projects. The Minister of Economy introduced the European Commission’s Horizon 2020 Framework Programme, which envisaged EUR 80 billion for the promotion of research and innovation activities. A number of calls for tenders planned to be announced next year will be devoted to promoting targeted cooperation with China in the fields of food, agriculture, biotechnology, energy, ICT, nanotechnology and space. In these calls for tenders, the participation of Chinese companies will be given extra score. 

During the visit to Lithuania, the Chinese delegation will be visiting the Visoriai Information Technology Park. ‘I very much hope that this visit to Visoriai will help ascertain that Lithuania is serious about its intentions to promote the development of innovation and is willing to offer support to technology companies,’ Gustas said.

Following the data of Statistics Lithuania, during Q1 2014, China (Hong Kong excluded) ranked 18 out of 185 foreign trade partners of Lithuania by trade turnover, 25 – by export and 13 by import. 

In Q1 2014, compared with the corresponding period of 2013, Lithuania’s export to China (Hong Kong excluded) increased by 19.9% and amounted to LTL 178.1 million. The export of goods of the Lithuanian origin to China increased by 14.7% and made LTL 146.6 million.

According to the data of 30 March 2014, the investors of China (Hong Kong excluded) have accumulated LTL 7.72 million in Lithuania, which makes about 0.02% of the total foreign direct investment to Lithuania. In one year, the amount of the accumulated Chinese investment in Lithuania almost tripled.

The investors from Lithuania are also more active in investing to China. Following the data of 30 March 2014, the LTL 20.64 million investment of Lithuania was made in China, which accounted for 0.3% of the total Lithuania’s FDI. In one year, Lithuania’s investments to China (Hing Kong excluded) grew by about 34%.