The Ministry of Finance of the Republic of Lithuania, the European Court of Auditors and the Association of Lithuanian Banks are organising the 8th International Financial Markets Conference, “Developing Capital Markets in the Baltics”, where policy-makers and business practitioners will meet in Vilnius to engage in thought leadership and to exchange ideas on topical issues.
The EU’s capital markets are growing, but their development is uneven across different regions. Although meaningful progress has been made, some fundamental factors, such as retail-investor participation and financial literacy for SMEs, continue to fall short of expectations. The EU’s capital markets are still poorly integrated. This is due to cross-border barriers such as differing insolvency proceedings and the debt-equity bias.
This annual event, which will take place on 1 October in Vilnius (Radisson Blu Hotel Lietuva, Konstitucijos Av. 20), will bring together policy-makers from EU institutions and Member States, as well as representatives from the private sector and from academia. The participants will discuss the role of the public sector in facilitating economic recovery and fostering capital markets. The conference will address the most pressing issues and trends affecting the Baltic capital markets. In light of the necessary economic recovery and the demographic developments in the EU, the discussion will focus on businesses’ access to finance after the pandemic, and the participation of retail investors in capital markets.
“In the EU, businesses traditionally largely rely on banks for financing their activities. Recent EU wide measures to diversify financing sources for businesses were too weak to stimulate and catalyse a structural shift towards more market funding in the EU. The Capital Markets Union is an unfinished agenda, and much work remains to be done. EU capital markets need to better address the issues faced, especially in smaller Member States“, - noted Rimantas Šadžius, Member of the European Court of Auditors.
“The recent commitment of the three Baltic States to create a regional pan-Baltic capital market is an important development that will enable the Baltic economies to expand their economic potential. Combining and harmonizing the Baltic capital markets will increase the attractiveness of the Baltic’s as an investment destination, pooling more liquidity as a result. Deeper capital markets will offer businesses better access to finance, which should increase competitiveness, create jobs and strengthen resilience of economy. However, governments should not only develop favorable regulatory environment but initially act as a catalyst and fill in the market gaps by offering financial instruments in order to pave the way for private investors to enter the capital markets”, - said Gintare Skaiste, Minister of Finance of the Republic of Lithuania.
“It is essential to strengthen local and EU capital markets since they also help to diversify the funding resources for the economy. Deep and broad markets are necessary prerequisites to achieving high growth and high incomes. Thus, the development of the capital markets is a common interest of the state, businesses, and the financial sector”, - pointed out Eivile Cipkute, President of Lithuanian Banking Association.
Confirmed participants include Werner Hoyer, President of the European Investment Bank, Jürgen Rigterink, First Vice-President of the European Bank for Reconstruction and Development, Mahmood Pradhan, Deputy Director of the International Monetary Fund, Gintarė Skaistė, Minister of Finance of the Republic of Lithuania, Rimantas Šadžius, Member of the European Court of Auditors, Gediminas Šimkus, Chairman of the Board of the Bank of Lithuania, Eivilė Čipkutė, President of the Lithuanian Banking Association, Arminta Saladžienė, Vice President, European Markets at Nasdaq, and many more.