Belarus, Lithuania, Latvia to create franchising collaboration network on bordering area

Belarus, Lithuania and Latvia are working on a project aimed at creating a network for franchising cooperation in the bordering region of the three countries, the Belarusian telegraph agency BelTA said.

The project will encourage franchise agreements between Belarus, Lithuania and Latvia as well as foreign investors. 

According to BelTA, franchised companies have not been very active in the area and as a result the franchise market is not fully developed. The economic potential of the market in the region has not been assessed yet but the bordering region is strategically located and has great potential.  

The City Executive Committee of Belarusian capital Minsk is the originator of the project ffor international technical aid, BelTa said.

The project will be implemented under the European Neighbourhood and Partnership Instruments (ENPI) for 2007-2013 aimed at supporting the countries’ common interest  and increasing their economic integration. It will be subject of the agreement of government of Belarus and the Commission of European Communities.