THE VOICE OF INTERNATIONAL LITHUANIA
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http://www.grida.no/baltic/htmls/related1.htm
At the seminar “The Baltic Sea region cooperates: what opportunities open up for the Lithuanian business?”, in Vilnius this week, Vice-Minister of Foreign Affairs of Lithuania Egidijus Meilūnas called on businessmen, academicians and representatives from other fields to search for partners in the entire Baltic Sea region, take up new initiatives and projects.
“More active participation of Lithuanian entrepreneurs in developing new potential of the Baltic Sea region is not only welcome, but also necessary. The Baltic macro-region presents a new perspective and an opportunity for boosting our economy,” Egidijus Meilūnas said.
The Vice-Minister acquainted the participants of the seminar with the EU Strategy for the Baltic Sea Region Baltic Sea strategy, its drafting and the progress that had been made.
At the seminar, speeches were also delivered by Programme Director of the Swedish Agency for Innovation Systems Vinnova Karin Nygård Skalman and representatives from the Ministry of Economy, Lithuanian Innovation Centre and Klaipėda Science and Technology Park.
After the speeches, a discussion was held about how to encourage the country’s companies and entrepreneurs to more actively engage in regional cooperation.
The event took place at the ISM University of Management and Economics in Vilnius.
The EU Strategy for the Baltic Sea Region is the first in the EU’s history macro-regional strategy, which foresees specific actions in all the countries of the region: Denmark, Estonia, Germany, Iceland, Latvia, Lithuania, Norway, Poland, Russia and Sweden. The Strategy promotes political, institutional, also business and scientific cooperation aiming at increased mobility in the region, regional sustainability and sustainable growth.
When implementing the priority Action Plan of the EU Strategy for the Baltic Sea Region, Lithuania coordinates three out of fifteen priority areas. One of the priority areas that Lithuania coordinates (the seventh) is dedicated to the exploit of the potential of the region’s innovation and development.
Source: www.urm.lt
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Ya learn something new eervyday. It’s true I guess!
Well, Lithuanians all over the world now know that it matters what kind of "development" you propose; I refer here to the sorry story of the Scandinavian registered banks ravaging Lithuania during this Great Recession and before.
True, rather basic modern government functions in Lithuania have been absent in the run-up to the Great Recession and long before it. Let's take a macroprudential regulation; for example, the Bank of Lithuania (central bank or rather a currency board only) did not successfully monitor/correct the credit channel so the foreign banks behaved largely wrecklessly as they did in pursuing short-term profit and thereby put at a big disadvantage the unsophisticated Lithuanian borrowers, still influenced by "easy money" Soviet style of thinking. Also, rent-seeking policies (e.g. as described by Ann Kruger, Amer Econ Review) by the former Soviet nomenklatura (that returned to power as early as 1992) prevented some other important reforming policy moves that are basic in nature, e.g. the introduction of real estate taxes.
Yours sincerely,
Valdas Samonis
Institute for New Economic Thinking, New York City
Knowledge Management Editor, Transnational Corporations Review (TNCR)