Taiwan, Lithuania hold economic dialogue, sign MOU on laser cooperation

2023/02/22

The second Taiwan-Lithuania Economic Dialogue was staged Feb. 20 in Taipei City, underscoring the two sides’ shared commitment to deepening their trade relationship.
 
Convened by Deputy Minister of Economic Affairs Chen Chern-chyi and Lithuanian Vice Minister of Economy and Innovation Karolis Zemaitis, the event focused on areas spanning green and digital transition as well as supply chain diversity.
 
In his opening remarks, Chen said the global economy has faced multiple complications including the COVID-19 pandemic, ongoing U.S.-China friction and the Russia-Ukraine war. Taiwan will continue to build cooperation with like-minded partners such as Lithuania to ensure democratic and supply chain resilience.
 
According to Chen, cooperative relations between Taiwan and the Baltic state are going from strength to strength, with significant results achieved in the innovation, laser and semiconductor sectors.
 
Echoing Chen’s remarks, Zemaitis said Lithuania attracted a record high amount of foreign direct investment in the past year despite global challenges and the country’s exports grew by more than 30 percent, demonstrating its economic resilience. It is hoped that Taiwan and Lithuania will see continued progress on various cooperative projects while exploring further opportunities, he added.
 
According to the MOEA, the two sides agreed to expand collaboration under three memorandums of understanding, including one on laser cooperation inked during the event by representatives of the state-backed Industrial Technology Research Institute and Lithuanian Laser Association.
 
Following the establishment of the Taiwanese Representative Office in Lithuania at the end of 2021, the EU member state opened a trade office in Taipei last November, laying a solid foundation for a strong bilateral economic and trade partnership, the ministry said.


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