Lithuania is turning another page in its cooperation with Taiwan in the field of high-tech development. The Lithuanian Laser Association has signed an agreement with the Industrial Technology Research Institute of Taiwan (ITRI) to set up a joint laser technology research and innovation centre in Taiwan. The laser centre is scheduled to open in autumn this year.
“Our mutual economic relations with Taiwan are steadily developing and 2023 should be a breakthrough year. We aim to accelerate bilateral cooperation among technology companies, to make better use of Lithuania’s potential in information and communications and financial technologies, and to encourage Taiwanese technology companies to set up and invest in Lithuania,” said Vice-Minister of Economy and Innovation Karolis Žemaitis.
Gediminas Račiukaitis, President of the Lithuanian Laser Association, believes that this is a way for Lithuanian laser companies to enter the chain of development and deployment of equipment for the semiconductor and electronics industries.
“By working together with ITRI and large integrators, we will combine our competences and know-how to solve current and future problems for the end users of the technology,” says Mr. Račiukaitis.
The Lithuanian Confederation of Industrialists has signed a Memorandum of Understanding (MoU) with the Chinese National Association of Industry and Commerce (CNAIC) and will sign a MoU with the Chinese National Federation of Industries (CNFI) on February 24.
The parties agreed to share information on Taiwanese and Lithuanian companies’ business interests with their members, recommend potential partners, organise exchange visits for business cooperation, and assist in participating in trade or investment projects in Lithuania and Taiwan or third countries. The parties also plan to exchange relevant information to create a favourable environment for trade and investment between Lithuania and Taiwan.
During his visit to Taiwan, Vice-Minister Žemaitis met with Chern-Chyi Chen, Deputy Minister of Economic Affairs of Taiwan, and Ning Yehu, Deputy Minister of Digital Affairs of Taiwan, to discuss joint projects that would assist in diversifying supply chains, enhancing cyber security and business competitiveness as well as enabling Lithuania to become a gateway for Taiwanese technologies to the European Union market.
The development of mutual economic relations was facilitated by the fact that the Trade Representative of the Republic of Lithuania started working in Taipei in September 2022 and the Lithuanian Trade Representative Office in Taipei was officially opened on 7 November 2022.
Lithuania’s trade with Taiwan grew by more than 50% in 2022, reaching more than €167 million.