Taiwan will soon launch a $ 1 billion loan fund for joint business projects with Lithuania, Lithuanian Economy Minister Auszrine Armonaite announced on Tuesday after a virtual meeting with Taiwan’s national development council minister Ming-Hsin Kungu.
“By working with one of the most advanced economies in the world, we can gain great opportunities for Lithuanian business sectors with high added value, such as the production of biotechnology or innovative products,” Armonaite pointed out at a press conference and announced that Lithuania is currently waiting for details on Taiwanese investments .
During a joint press conference, Ming-Hsin recalled that Taiwan has already signed a cooperation agreement with Lithuania in six areas: training specialists in semiconductor production, semiconductor production development, biotechnology development, satellite industry, research and the financial industry.
The Taiwanese minister also expressed the hope that Lithuania will open a representation in his country this spring.
Armonaite confirmed Lithuania’s interest in increasing its trade with Taiwan; announced that soon Lithuanian companies will be able to engage in one of the largest Taiwanese e-commerce companies PC Home and start trading on the Taiwanese market.
Tightening Lithuanian-Taiwanese economic cooperation is aimed at neutralizing the losses suffered by Lithuanian business due to the conflict between Vilnius and Beijing.
Lithuania is now under political and economic pressure from China, which is demanding that its decision from last year be reversed, allowing Taiwan to open a de facto embassy in Vilnius. China blocked, inter alia, entry of Lithuanian goods into its territory. 40 percent of Lithuanian companies surveyed admit that they have difficulties as a result of this conflict.
Taiwan has previously announced that it will create an investment fund for Lithuania worth 200 million dollars, intended for investments in industry. The Lithuanian government has also announced support.
From Vilnius Aleksandra Akińczo (PAP)
aki / akl /