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Bangladesh has a great potential of doing business with the Republic of Lithuania.

There is a market for Bangladesh to explore in different sectors, including garments. There is an existing trade between the two countries which is too small comparing with the other EU states and Bangladesh. Bangladesh exported ready made garments (RMG) worth over 2 million US dollars during the year 2006, and imported some Helicopter Spares and Milk Powder worth less than a million USD. But there is a trade between the two countries, without any promotion by both the countries. It is sure this trade is done purely by individual businessmen of the two countries on their own accord. When I spoke to some business communities in Bangladesh about Lithuania, many of them even don't know much about Lithuania and its market potentials. During my visit I end of last year, I explored some areas of business which looked very encouraging.

The prime area is RMG where Bangladesh has a stronghold by jumping into the market, as Lithuania currently imports RMG worth over a billion dollars and sales throughout Europe. Lithuania is strategically situated in the gateway of Europe, and can support the Logistical business including freight forwarding, shipping consolidation with a much lower cost.

I had opportunities to talk to the large scale companies who do the logistics business including trans shipping goods in and out of Lithuania trucking the goods in and out, every corner of Europe.

The airports in Lithuania are much less costlier to land airplanes to carry cargo from Bangladesh and from the region. Capable Bangladeshi companies can surely join hands with the large scale Lithuanian companies to set up this logistical facilities on win: win proposition.

The other potential area is Real Estate and Housing. After joining EU, Lithuanian economy has a different dimension, and the purchase capacity of the city dwellers have substantially increased with the flexible financing facilities by the Banks. Suddenly there is huge demand for apartments and houses.

Anything built is sold immediately, told me a businessman at the capital of Lithuania Vilnius, while having a coffee meeting. Capable Bangladeshi companies may venture in to this sector, as the sector is widely open, any foreign company can take the advantages and earn huge in foreign currency showcasing Bangladesh's capability in real estate and housing construction area. There are world class universities and institutions in Lithuania, which can cater the needs of student who wish to study in Europe but at a much lesser cost than in Western Europe. I recently saw an advertisement in the newspaper that a Bangladeshi company promoting a University of Lithuania, which I believe is a good move facilitating the student. At one stage, Lithuania may offer scholarships to certain student to improve the relationship.

There are other areas of doing business with Lithuania, where entrepreneurs from Bangladesh can explore and do business which surely will harvest not only money also name of Bangladesh will be promoted in that part of the World with the quality product and services dealt in.

To travel to Lithuania, there is no direct air service, however one can fly by British Airways direct via London, out of Bangkok by any European carrier. Visa is required by Bangladeshis to travel to Lithuania which is issued by its Mission in Egypt, UK and many other places. 1 believe, enterprising Bangladeshi business communities will move to explore the business opportunities in to Lithuania and boost up business.

Lithuania became an independent state on 11th March 1990 when the USSR broke. Geographically the country is situated in Europe's eastern side boarding with Poland, Latvia. With the road infrastructure one can drive to any part of Europe within couple hours time. The nearest country is Germany. With an area of 65,300 square kilometer and a population of 3.4 million. The country's GDP growth is 6% in 2006 and the GNI per capita is USS 7,050

The biggest business advantage Lithuania has is the production cost of any item, which is still low relatively comparing with the other European countries.

Goods manufactured in Lithuania in the morning can be delivered anywhere in Europe by afternoon. On joining the European Union the door been widely opened for Lithuania to be economically solvent by exploiting its resources and advantages.

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