Despite all the efforts to integrate Europe into one single market, divisions between national markets persist - of cultural nature at least. It is hardly surprising that when Lithuanian entrepreneurs find themselves doing business in a foreign land, they seek help of their compatriots.
Serbia making progress in implementing reforms
The European Union (EU) admits that Serbia has made progress in implementing reforms and Lithuania seems to be ready to admit that as well despite a history of setbacks encountered by some Lithuania’s businesses that tried to invest in that country, the Verslo Zinios business daily reports on Monday.
„They are taking measures, perhaps the results cannot yet be seen today, but I see their mindedness and political will. There have been many meetings and I can say that the positions are clear and we will find understanding on those issues that we could not agree on before. The atmosphere has improved and they understand investors problems as well now“, – Foreign Minister Linas Linkevicius told the daily.
Lithuania remains the only EU Member State that has not yet ratified the Stabilization and Association Agreement between the Community and Serbia. Lithuania's parliament plans to add this agreement, which is important for Belgrade as it seeks to open accession talks with the EU, to its spring session agenda. In this case the deal would be ratified by summer.
Lithuania's concerns about Serbia stem from two stories of unsuccessful Lithuania's investments in that country. In one of these cases, Alita, the Lithuanian spirits manufacturer, has lost shares in a brewery acquired in Serbia. The other case deals with Arvi ir Ko group, which took part in privatization of Serbia’s fertilizer manufacturer HIP-Azotara in 2006. However, Serbia’s authorities later expropriated the fertilizer facility.
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