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Lithuania’s businesspeople do not fear economic slowdown in Germany

Gabijos Balvočiūtės nuotr. / .
Šaltinis: BNS

Lithuania’s entrepreneurs cooperating with German partners claim that orders coming from Germany are not diminishing and believe that potential difficulties that may be encountered by industry in Germany, which is one of the key export markets for Lithuania’s industry, might open up new possibilities, the Verslo Žinios business daily reports.

“Economic slowdown in Germany would probably be more positive than negative for our business. With the economic situation getting worse, Germans would probably look for those who could produce well and cheaper,” Arūnas Akstinas, CEO of Aurika, a label and packaging manufacturing company, told the daily.

Lithuanian furniture makers, which, according to statistical data, raised their exports to Germany by nearly 34 percent between January and May compared with the same period last year, also claim that they have not come across any negative trends.

”We could not say today that we feel any decline in sales,” Viktoras Adomaitis, CEO of Vakarų Medienos Grupė (Western Timber Group, or VMG), told the daily.

Sweden’s IKEA is VMG’s key customer and VMG is the sole supplier of kitchen furniture to IKEA’s outlets in Germany.

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