Debate On Land Sale To Foreigners Gathers Momentum
After six months, the transitional period prohibiting foreign acquisitions of agricultural and forestry lands in Lithuania will expire.Upon entering the EU, Lithuania has negotiated a transitional period for agricultural and forestry land acquisitions till May 2011. It was hoped that during this period Lithuanian farmers and agricultural companies will establish themselves in the local market and become better prepared to compete with potential investors from the European Union countries.
However, it is clear now that such expectations have not materialized. The summer drought of 2006 and the economic crisis that started in 2008 have largely prevented local farms from economic consolidation, the experts say.
Under the EU Accession Treaty,
Last year the parliament has adopted a resolution which requests the government to negotiate such an extension with the European Commission.
Official data on the number of plots of lands acquired by foreign entities in
