Economic, trade ties prioritized during Taiwan-Lithuania ministerial talks

2022/01/13

The National Development Council Minister Kung Ming-hsin and Minister of the Economy and Innovation Ausrine Armonaite of Lithuania discussed ways of deepening economic and trade ties between Taiwan and Lithuania during a virtual meeting held Jan. 11, according to the NDC and the Ministry of Foreign Affairs.
 
The two countries share a close friendship hallmarked by successful cooperation during the pandemic and the visit of a Taiwan investment and trade delegation last October, Kung said. Relevant measures and projects are being undertaken by the government and local businesses to fulfill pledges they made during the visit, he added.
 
To further strengthen bilateral economic cooperation, Taiwan is set to offer a US$200 million investment fund and US$1 billion in loans, Kung said. The former is provided for businesses from both sides to invest in Taiwan and Central and Eastern European countries, including Lithuania, while the latter is set to boost the development of industries in both countries, in sectors spanning biomedicine, finance, physics and space, the minister said.
 
This is complemented by a special taskforce established by the NDC and the Ministries of Economic Affairs and Science and Technology dedicated to collaboration in the semiconductor sector, Kung said, adding there will be further exchange in areas such as biotechnology, electric buses and laser industries.
 
According to Kung, Taiwan is a reliable and rock-solid friend of Lithuania. The government will continue working with the like-minded partner to promote supply chain resilience and counter China’s economic coercion, while enhancing the unity of the democracies in the world, he added.
 
In response, Armonaite expressed appreciation for Taiwan’s rock-solid support of Lithuania. She also added that the country’s trade office in Taiwan is under administrative review and is expected to be established in spring.
 
In a tweet on the MOFA’s official account, Foreign Minister Jaushieh Joseph Wu said: “Glad to stop by & say hi as NDC Minister Kung, @ArmonaiteA & @TW_in_LT Rep. Huang work hard for #Taiwan & #Lithuania. They’re showing the need for cooperation & unity among democracies in countering #PRC coercion. Keep fighting for the free world! JW”


Source: Taiwan Today (https://taiwantoday.tw/index.php)