Deputy Minister of Economic Affairs Chen Chern-chyi (陳正祺) on Wednesday held talks with his Lithuanian counterpart on expanding economic cooperation between the two countries, the Ministry of Economic Affairs said.
The talks with Lithuanian Vice Minister of Economy and Innovation Jovita Neliupsiene included the semiconductor, laser, biotech and investment sectors, as well as start-ups and global supply chains, the ministry said yesterday.
The economic dialogue was the first to take place between the two countries at the vice-ministerial level, and was part of a three-day visit by a 24-member Taiwanese delegation to Lithuania, the ministry said.
In public remarks before the meeting, Chen said that Taiwan and Lithuania have built ties based on shared democratic values, even amid momentous global changes in areas such as supply chains, trade and geopolitics.
Neliupsiene said that the talks would help to further expand business relationships that Lithuanian industries — including the country’s cutting-edge laser industry, its life science industry and start-ups — have begun to build with companies in Taiwan.
Taiwan in November last year opened a representative office in Lithuania, and sent economic delegations to the country in October last year and in March.
In the first quarter of this year, bilateral trade between the two countries increased 30 percent to NT$44.87 million (US$1.52 million), Taiwanese customs data showed.
However, the Baltic state has come under heavy political and economic pressure from China over the name of the office, the Taiwanese Representative Office.
The nation’s representative offices in countries without formal relations mostly use “Taipei,” such as the Taipei Economic and Cultural Representative Office in the US. Embassies in nations with formal ties use “Republic of China.”
SEEKING CLARITY: Washington should not adopt measures that create uncertainties for ‘existing semiconductor investments,’ TSMC said referring to its US$165 billion in the US Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) told the US that any future tariffs on Taiwanese semiconductors could reduce demand for chips and derail its pledge to increase its investment in Arizona. “New import restrictions could jeopardize current US leadership in the competitive technology industry and create uncertainties for many committed semiconductor capital projects in the US, including TSMC Arizona’s significant investment plan in Phoenix,” the chipmaker wrote in a letter to the US Department of Commerce. TSMC issued the warning in response to a solicitation for comments by the department on a possible tariff on semiconductor imports by US President Donald Trump’s
The government has launched a three-pronged strategy to attract local and international talent, aiming to position Taiwan as a new global hub following Nvidia Corp’s announcement that it has chosen Taipei as the site of its Taiwan headquarters. Nvidia cofounder and CEO Jensen Huang (黃仁勳) on Monday last week announced during his keynote speech at the Computex trade show in Taipei that the Nvidia Constellation, the company’s planned Taiwan headquarters, would be located in the Beitou-Shilin Technology Park (北投士林科技園區) in Taipei. Huang’s decision to establish a base in Taiwan is “primarily due to Taiwan’s talent pool and its strength in the semiconductor
An earnings report from semiconductor giant and artificial intelligence (AI) bellwether Nvidia Corp takes center stage for Wall Street this week, as stocks hit a speed bump of worries over US federal deficits driving up Treasury yields. US equities pulled back last week after a torrid rally, as investors turned their attention to tax and spending legislation poised to swell the US government’s US$36 trillion in debt. Long-dated US Treasury yields rose amid the fiscal worries, with the 30-year yield topping 5 percent and hitting its highest level since late 2023. Stocks were dealt another blow on Friday when US President Donald
UNCERTAINTY: Investors remain worried that trade negotiations with Washington could go poorly, given Trump’s inconsistency on tariffs in his second term, experts said The consumer confidence index this month fell for a ninth consecutive month to its lowest level in 13 months, as global trade uncertainties and tariff risks cloud Taiwan’s economic outlook, a survey released yesterday by National Central University found. The biggest decline came from the timing for stock investments, which plunged 11.82 points to 26.82, underscoring bleak investor confidence, it said. “Although the TAIEX reclaimed the 21,000-point mark after the US and China agreed to bury the hatchet for 90 days, investors remain worried that the situation would turn sour later,” said Dachrahn Wu (吳大任), director of the university’s Research Center for
RSS