I personally don't think that there is any causation between these two. There may be correlation, but not causation.
I know plenty of people who have good long-term memory but who are terrible at analyzing things and drawing conclusions. My aunt for example, remembers so much from her childhood, things that my mom who is much younger can't remember. But when she's faced with a problem, she doesn't know how to use her knowledge and experiences to solve that problem. It's like she can't reason, she just does whatever comes to her mind.
I think that critical thinking has to be learned and the sooner it is learned, the better. Just because we remember stuff from the past doesn't make us good at critical thinking.