After the first investments in Lithuania Taiwan plans to continue investing in projects in Lithuania, announced the head of the Taiwan representative office in Vilnius, Erik Huan.
The content will continue after the announcement
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A project in which the Taiwania Capital venture capital fund will invest 3.5 million euros was presented in Vilnius on Monday Lithuanian in the laser technology start-up Litilit, the first investment of a $ 200 million package that Taipei plans to invest in Central and Eastern Europe. Investment “Litilit” is the first project of the investment package announced this year.
Huang assured that many more projects will be completed by the end of this year and that investment projects are being considered for next year and the following year.
The Taiwan representative informed that the agreement signed by the governments of Lithuania and Taiwan allows the Taiwan Industrial Technology Research Institute to collaborate with the Internet of Things solution developer “Teltonika IoT Group”, developing semiconductor development and manufacturing technologies. The details of the agreement will be worked out in the coming weeks.
As Huang said, Lithuania could receive permission to export beef to Taiwan by the end of the year.
The data available to him show that Lithuanian exports to Taiwan in the first half of this year were 30% higher than in January-June last year.
Taiwanese authorities confirmed on Monday that the export of Lithuanian eggs, milk and seafood products to the Asian country is allowed.
So far, 14 Lithuanian milk processors, one egg producer and five fish processors have announced plans to export their products to Taiwan.
It has already been announced that Lithuania opened a trade representation in Taiwan on Monday.
A Taiwanese representative office was opened in Vilnius last November in an effort to strengthen relations between Lithuania and Taiwan.
Although Lithuania’s decision to use the Taiwanese name for the representative office in Taiwan has aroused wide resonance, the official name of the Lithuanian office will be Taipei Lithuanian Representative Office, thus respecting international practice in cross-border relations, taking into account that China considers Taiwan its territory and has promised to regain control of the island.
Officials also stress that it will be a commercial, not a diplomatic, representation.
In response to Lithuania’s decision to allow the use of the word “Taiwan” in the name of its representative office in Taiwan, China has exerted economic and diplomatic pressure on Lithuania as it seeks to prevent any attempt by Taiwan to act as one. independent state. Elsewhere in the world, the name of Taiwan’s capital Taipei is used in the names of such representations, respecting Beijing’s “one China” policy, which does not allow Taiwan to be considered a separate country.
Following the opening of the representative office, Beijing downgraded diplomatic relations with Vilnius and therefore introduced trade restrictions The European Union took action against China at the World Trade Organization.
