Prime minister invites Chinese online giant Alibaba to set up shop in Lithuania

Algirdas Butkevičius
DELFI / Tomas Vinickas

“Lithuania has a good business climate. The World Bank ranks us among 20 world countries with the most favourable environment for business creation,” Algirdas Butkevičius said in a press release.

Butkevičius, who met with Alibaba Group founder and executive chairman Jack Ma during his official visit to China, pointed out that the Lithuanian postal service was among the Chinese company’s partners. Moreover, Lithuania has five free economic zones that could offer favourable terms for investment, he added.

According to the government’s press service, Jack Ma said that the company was interested in developing operations in Eastern Europe and saw Lithuania as a country that could become a gatewaybetween the Asian market and the Euro area and all of Europe. He also said that Butkevičius’ proposal to establish a logistical center was noteworthy and promised to consider an invitation to pay a visit to Lithuania.

Alibaba Group describes itself as the largest online and mobile commerce company in the world in terms of gross merchandise volume. Its market capitalization amounted to $259 billion US dollars in 2014.

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