Lithuania reaffirmed via videoconference yesterday evening its intention to open a trade office in Taiwan this spring, while Taiwan reiterated pledges of US$200 million in investment funds and US$1 billion in credit loans, as the two nations work toward deepening their economic cooperation.
National Development Council (NDC) Minister Kung Ming-hsin (龔明鑫) said that the government and businesses in Taiwan have come up with concrete details and projects to fulfill pledges they made during a delegation’s visit to the European country in October last year.
“Whichever companies from Taiwan and Lithuania are interested in investment projects or joint ventures in Lithuania can apply for the investment funds and credit loans,” Kung said.
Photo: CNA
The pledge remains valid as long as projects and ventures benefit both sides, Kung said when asked by reporters from Lithuania if there were conditions on funding approval.
Lithuania drew the ire of Beijing after allowing the opening of the Taiwanese Representative Office in Vilnius in November last year, as Beijing considers the use of the word “Taiwanese” a contravention of its “one China” principle.
Taiwan can raise the amounts of the investment fund and credit loans if necessary, Kung said.
The two sides signed six memorandums of understanding last year on cooperation in semiconductor talent, the semiconductor industry, biotechnology, and scientific research and development, among other areas.
Lithuanian Minister of the Economy and Innovation Ausrine Armonaite said that companies in her country are capable of taking part in making 28-nanometer and 40-nanometer chips, while the country’s laser industry is a global leader.
Lithuania would like to tap into the semiconductor industry, in which Taiwanese companies command a technological lead, she said.
The trade office in Taiwan is under administrative review and should be established soon, along with outposts in other parts of the world, she said.
The investment fund would be used in grooming Lithuania’s human resources and manufacturing industries, the minister said, declining to elaborate out of respect for interested corporations.
Armonaite asked for Taiwan’s help with exports because Beijing is punishing her country for its friendly interactions with Taiwan.
Exports account for 70 percent of Lithuania’s GDP, according to World Bank data.
Kung promised to lend a helping hand and said that a trade office in Taiwan would help expand the scope of cooperation.
Lithuanian said its exports to Taiwan totaled 19 million euros (US$21.54 million) in 2020, while imports from Taiwan totaled 66 million euros, less than 1 percent of its foreign trade, which indicates that there is ample room for growth.
DEFENDING DEMOCRACY: Taiwan shares the same values as those that fought in WWII, and nations must unite to halt the expansion of a new authoritarian bloc, Lai said The government yesterday held a commemoration ceremony for Victory in Europe (V-E) Day, joining the rest of the world for the first time to mark the anniversary of the end of World War II in Europe. Taiwan honoring V-E Day signifies “our growing connections with the international community,” President William Lai (賴清德) said at a reception in Taipei on the 80th anniversary of V-E Day. One of the major lessons of World War II is that “authoritarianism and aggression lead only to slaughter, tragedy and greater inequality,” Lai said. Even more importantly, the war also taught people that “those who cherish peace cannot
Taiwanese Olympic badminton men’s doubles gold medalist Wang Chi-lin (王齊麟) and his new partner, Chiu Hsiang-chieh (邱相榤), clinched the men’s doubles title at the Yonex Taipei Open yesterday, becoming the second Taiwanese team to win a title in the tournament. Ranked 19th in the world, the Taiwanese duo defeated Kang Min-hyuk and Ki Dong-ju of South Korea 21-18, 21-15 in a pulsating 43-minute final to clinch their first doubles title after teaming up last year. Wang, the men’s doubles gold medalist at the 2020 and 2024 Olympics, partnered with Chiu in August last year after the retirement of his teammate Lee Yang
The Philippines yesterday criticized a “high-risk” maneuver by a Chinese vessel near the disputed Scarborough Shoal (Huangyan Island, 黃岩島) in a rare incident involving warships from the two navies. The Scarborough Shoal — a triangular chain of reefs and rocks in the contested South China Sea — has been a flash point between the countries since China seized it from the Philippines in 2012. Taiwan also claims the shoal. Monday’s encounter took place approximately 11.8 nautical miles (22km) southeast” of the Scarborough Shoal, the Philippine military said, during ongoing US-Philippine military exercises that Beijing has criticized as destabilizing. “The Chinese frigate BN 554 was
The number of births in Taiwan fell to an all-time monthly low last month, while the population declined for the 16th consecutive month, Ministry of the Interior data released on Friday showed. The number of newborns totaled 8,684, which is 704 births fewer than in March and the lowest monthly figure on record, the ministry said. That is equivalent to roughly one baby born every five minutes and an annual crude birthrate of 4.52 per 1,000 people, the ministry added. Meanwhile, 17,205 deaths were recorded, resulting in a natural population decrease of 8,521, the data showed. More people are also leaving Taiwan, with net