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.
A proposed 100 percent tariff on chip imports announced by US President Donald Trump could shift more of Taiwan’s semiconductor production overseas, a Taiwan Institute of Economic Research (TIER) researcher said yesterday. Trump’s tariff policy will accelerate the global semiconductor industry’s pace to establish roots in the US, leading to higher supply chain costs and ultimately raising prices of consumer electronics and creating uncertainty for future market demand, Arisa Liu (劉佩真) at the institute’s Taiwan Industry Economics Database said in a telephone interview. Trump’s move signals his intention to "restore the glory of the US semiconductor industry," Liu noted, saying that
On Ireland’s blustery western seaboard, researchers are gleefully flying giant kites — not for fun, but in the hope of generating renewable electricity and sparking a “revolution” in wind energy. “We use a kite to capture the wind and a generator at the bottom of it that captures the power,” said Padraic Doherty of Kitepower, the Dutch firm behind the venture. At its test site in operation since September 2023 near the small town of Bangor Erris, the team transports the vast 60-square-meter kite from a hangar across the lunar-like bogland to a generator. The kite is then attached by a
Foxconn Technology Co (鴻準精密), a metal casing supplier owned by Hon Hai Precision Industry Co (鴻海精密), yesterday announced plans to invest US$1 billion in the US over the next decade as part of its business transformation strategy. The Apple Inc supplier said in a statement that its board approved the investment on Thursday, as part of a transformation strategy focused on precision mold development, smart manufacturing, robotics and advanced automation. The strategy would have a strong emphasis on artificial intelligence (AI), the company added. The company said it aims to build a flexible, intelligent production ecosystem to boost competitiveness and sustainability. Foxconn
STILL UNCLEAR: Several aspects of the policy still need to be clarified, such as whether the exemptions would expand to related products, PwC Taiwan warned The TAIEX surged yesterday, led by gains in Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), after US President Donald Trump announced a sweeping 100 percent tariff on imported semiconductors — while exempting companies operating or building plants in the US, which includes TSMC. The benchmark index jumped 556.41 points, or 2.37 percent, to close at 24,003.77, breaching the 24,000-point level and hitting its highest close this year, Taiwan Stock Exchange (TWSE) data showed. TSMC rose NT$55, or 4.89 percent, to close at a record NT$1,180, as the company is already investing heavily in a multibillion-dollar plant in Arizona that led investors to assume
RSS