Bid to open gateway into eastern Europe
Published:
6 October 2003 y., Monday
Thailand will promote trade and joint ventures with Lithuania to foster commercial links and use the Baltic country as a gateway to other European markets.
Having the fastest growing economy in the Baltic region, Lithuania would be an excellent launch pad for Thai products to other parts of Europe, said Thailand Trade Representative Kantathi Suphamongkol.
Other potential markets included the 12 countries of the Commonwealth of Independent States, and Latvia and Estonia.
Lithuania, the largest Baltic state, will become an EU member in May next year. Its geographical links to other European regions and relatively low wages would make Lithuania ideal as a distribution hub for Thai products, Mr Kantathi.
``While the country will enjoy access and privileges as an EU member, the average cost of operations and wages in Lithuania would remain well below that of the European Union's standard for at least 10 years,'' he said.
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