Taiwan, Lithuania hold economic dialogue in Vilnius

2022/05/30

The first Taiwan-Lithuania Economic Dialogue was staged May 25 in Vilnius, underscoring the commitment of the two partners to deepening their bilateral trade relationship.
 
Convened by Deputy Minister of Economic Affairs Chen Chern-chyi and Lithuanian Deputy Minister of Economy and Innovation Jovita Neliupsiene, the event focused on areas spanning biotechnology, electric buses, innovation, laser technology, semiconductors, supply chain resilience and trade and investment.
 
In his opening remarks, Chen said since his first fact-finding trip to the Baltic state last October, there has been a significant increase in Taiwan firms’ interest in building partnerships with their Lithuanian counterparts.
 
While the COVID-19 pandemic, ongoing U.S.-China trade friction and the Russia-Ukraine war have significantly impacted international trade and global supply chains, Chen said Taiwan and Lithuania have nonetheless continued to engage in close exchanges to bolster cooperative relations.
 
Echoing Chen’s remarks, Neliupsiene said this first dialogue is a milestone in bilateral ties. There are many opportunities for Taiwan firms in Lithuania, especially in laser technology, life sciences and the startup sector where her country is a front runner. It is hoped that the dialogue will serve as a platform to advance collaboration leading to win-win results, she added.
 
According to the MOEA, the initial meeting has allowed both sides to identify potential areas of cooperation. The next dialogue will focus on practical and concrete measures to strengthen the partnership, it said.
 
Since its establishment in November 2021, the Taiwanese Representative Office in Lithuania has organized over 100 business events in the EU member state, the ministry said. Official statistics show that two-way trade totaled US$44.87 million during the first quarter of 2022, an increase of 30 percent from the same period last year. 


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