Marketing agency Enterprise Lithuania is seeking to help companies from the Baltic country sell their products in Taiwan through Taipei-based e-commerce platform PChome Online Inc (網路家庭), the agency said in a statement on Tuesday.
Companies that would take part in Enterprise Lithuania’s initiative from the spring of next year would be announced later this month, said Rasa Uzdavinyte, who heads the agency’s export department.
The nonprofit agency is run by the Lithuanian Ministry of Economy and Innovation. It promotes entrepreneurship, and supports business development and exporters.
The selection of companies and establishment of a logistics network would continue until the initiative begins, Uzdavinyte said.
“Lithuania’s exports to Taiwan have been small so far, and several Lithuanian products for general consumption are gaining ground in this market, especially Lithuanian food and beverage brands,” she said.
Uzdavinyte also expressed hope that the initiative would help expand the range of Lithuanian products available in Taiwan.
Taiwanese would hopefully associate the country with high quality, good taste and sustainability, she said.
“We believe that Lithuanian food and beverage products, cosmetics, clothing and textiles should be in demand in Taiwan,” Uzdavinyte said.
Taiwan is one of the highest-developed economies in the world and its population has significant purchasing power, she said, calling the Taiwanese market one of the most attractive export destinations in Asia.
Taiwanese are interested in trying new products, Uzdavinyte said, adding that the nation’s interest in Western culture would benefit Lithuanian exporters.
However, as there is little awareness among Taiwanese about what Lithuania has to offer, Enterprise Lithuania is planning a series of marketing events focused on the strengths of Lithuanian businesses, she said.
Data from the Lithuanian Department of Statistics showed that exports to Taiwan totaled 10 million euros (US$11.24 billion) in the first half of this year, up 7.2 percent from the same period last year.
Optical devices accounted for the largest share of exports at 24 percent, followed by wood and wood products at 22 percent, chemical products at 17 percent and food products at 6 percent, the data showed.
Chemical and basic metal products, machinery equipment, clothing and textiles, and food products have significant potential to gain traction in the Taiwanese market, the agency said.
SOLID FOUNDATION: Given its decades of expertise in megatronics, manufacturing and robotics, Japan has the wherewithal to create its own AI, Jensen Huang said Nvidia Corp plans to help build an artificial intelligence (AI) tech-related ecosystem in Japan to meet demand in a country eager to gain an edge in this emerging technology. The US company will seek to partner with Japanese research organizations, companies and start-ups to build factories for AI, Nvidia CEO Jensen Huang (黃仁勳) said yesterday during opening remarks in a meeting with Japanese Minister of Economy, Trade and Industry Yasutoshi Nishimura. The company is to set up an AI research laboratory, and invest in local start-ups and educate the public on using AI, Huang said. Huang earlier this week met with Japanese Prime
Huawei Technologies Co (華為) is among a field of “very formidable” competitors to Nvidia Corp in the race to produce the best artificial intelligence (AI) chips, Nvidia chief executive officer Jensen Huang (黃仁勳) said yesterday. Huawei, Intel Corp and an expanding group of semiconductor start-ups pose a stiff challenge to Nvidia’s dominant position in the market for AI accelerators, Huang told reporters in Singapore. Shenzhen-based Huawei has grown into China’s chip tech champion and returned to the spotlight this year with an advanced made-in-China smartphone processor. “We have a lot of competitors, in China and outside China,” Huang said. “Most of our competitors
TAPPING TAIWAN? TSMC is committed to hiring locally, but circumstances might require the firm to bring in foreign workers with specialized experience, they said Arizona labor unions and Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) have reached an agreement to resolve labor disputes that have dogged the chipmaker’s construction site in Phoenix, Arizona, they said in a joint statement. The new accord is the result of months of negotiations between the world’s leading chipmaker and the Arizona Building and Construction Trades Council (AZBTC), a coalition of unions with 3,000 members on site — about one-quarter of TSMC’s total construction workforce. Under the agreement, TSMC — which is investing US$40 billion in Arizona — plans to partner with unions to develop workforce training programs and maintain transparency on
Global semiconductor industry revenue is expected to grow 16.8 percent year-on-year next year, following a slump this year, largely fueled by a surge in demand for memory chips, US-based market information advisory firm Gartner Inc said on Monday. Gartner said the global semiconductor industry is forecast to generate US$624 billion in sales next year, up from US$534 billion this year, during which revenue is predicted to fall 10.9 percent amid inventory adjustments caused by weak demand. The global market for memory chips is expected to rebound next year by 66.3 percent, following a fall of 38.8 percent this year due to oversupply
RSS