The economic partnership of Taiwan and Lithuania is strong because the two sides “are in the same boat,” visiting Lithuanian Vice Minister of the Economy and Innovation Karolis Zemaitis told a seminar in Taipei on Tuesday.
“In Lithuania, we have a saying that if we are in something together, we are in the same boat, on the same ship,” Zemaitis said in a speech at the Lithuania Investment Opportunities Seminar.
The official is visiting Taiwan for the second time in less than half a year as part of a delegation that includes representatives from more than 30 companies.
It is the largest Lithuanian business delegation to visit Taiwan, the Ministry of Economic Affairs said.
The companies represented are in the manufacturing, engineering and laser industries, among others, Zemaitis said.
“This ship of Lithuania and Taiwan has a very clear political vision of freedom and democracy,” he said. “We have a group of expert businesses who are ready to accelerate this ship.”
Deputy Minister of Economic Affairs Chen Chern-chyi (陳正祺) said that Taiwanese businesses are working to establish manufacturing bases in central and eastern Europe.
Investments in Lithuania by Taiwanese businesses, including Hon Hai Precision Industry Co and Asustek Computer Inc, reached US$1.6 billion as of the end of last year, Chen said, citing government data.
As an important supplier of laser equipment, Lithuania can cooperate with Taiwan in the field of semiconductors and biotechnology, he told reporters after the seminar, which included business-matching meetings with corporate representatives from Taiwanese firms.
The event came one day after the two countries inked a memorandum of understanding (MOU) on laser technology cooperation during the Taiwan-Lithuania Economic Dialogue.
The MOU aims to help generate business opportunities for high-tech industries on both sides, the Taiwanese ministry said.
Bilateral economic and trade ties between Taiwan and Lithuania have developed rapidly since the Taiwanese Representative Office in Lithuania was set up at the end of 2021, followed by the inauguration of the Lithuanian Trade Representative Office in Taiwan in November last year, it said.
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