On September 19th, 2014 JSC “Vestaka” signed the project “JSC “Vestaka” incentive for export development”, project code No.VP2-2.1-ŪM-04-K-05-126, funding and administration agreement, financed in accordance with the 2nd priority of the 2007-2013 Economic growth action program measure “Increasing business productivity and improving business environment” VP2-2.1-ŪM-04-K “New possibilities”.

Cargo forwarding by railway transport is the main activity of JSC “VESTAKA” for 15 years already. It has established itself in the country’s market as a stable and reliable cargo forwarding company. Its main clients are companies that transport their cargo from/to Lithuania. However, Lithuanian market is relatively small. For that reason, in order to expand its activity and to exploit the possibilities provided by the “Rail Baltica” project, the company is intensively looking for new foreign markets and clients.

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The most effective way to achieve that is by participation in the international transport exhibitions where the company can introduce its services, learn about the needs and subtleties of the foreign markets and to establish connections with potential foreign clients and (or) partners. Participation in exhibitions will allow to increase the turnover of the company and its export part in the general sales structure. Attracting new customers, in turn, will increase the competitiveness of the country's transport sector and will contribute to the GDP growth. The last 2 years are crucial to the success of the project because the implementation of the “Rail Baltica” project by the end of 2015 European track will connect Kaunas to Warsaw which will open new foreign markets and will create better conditions for business development. In order to use these circumstances timely and to increase the company's export volume it is necessary in 2014 - 2015 to introduce the services provided by JSC “VESTAKA” in foreign markets as widely as possible. In this regard, during the mentioned period JSC “VESTAKA” is planning to attend (participate) in numerous specialized international transport exhibitions.

Project funding

Allocated funding for project implementation is up to 64973,00 Litas/18817,48 Euros (excluding VAT). Funding intensity is up to 60 percent.

Project implementation period – From November 2014 to June 2015.