Lithuanian Bankas SNORAS has decided to establish a representative office in Shanghai. It will be the bank’s first representative office in China and the seventh one in foreign countries. The bank will also be the first Lithuanian bank that possesses the representative office in China.

The representative office is to be located in the place that is beloved by bankers - in the center of finance and trade zone, near to the Oriental Pearl TV Tower and divisions of banks of China, Shanghai and others. It is scheduled that in the beginning 3 employees will represent Bankas SNORAS in China.

According to the data of Ministry of Foreign Affairs of the Republic of Lithuania, volume of trade is constantly increasing between Lithuania and China, mostly because of import from China. In 2006 Lithuanian export to China made up USD 18,7 million (0,13 per cent of all export) and import from China made up USD 464,2 million (2,4 per cent of all import). The both countries maintain the diplomatic contacts since 1991 and the embassy of the Republic of Lithuania was established in China in 1995. (Bankas SNORAS)

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