Taiwan, Lithuania hold high-level economic talks

Taipei, May 26 (CNA) Taiwan's Deputy Minister of Economic Affairs Chen Chern-chyi (陳正祺) held talks Wednesday with his Lithuanian counterpart on expanding economic cooperation between the two countries, according to the Ministry of Economic Affairs (MOEA).

The talks with Lithuanian Vice Minister of Economy and Innovation Jovita Neliupšienė covered topics including semiconductor, laser, biotech, investment and startup industries, as well as the resilience of global supply chains, the MOEA said in a press release Thursday.

The economic dialogue is the first to take place between the countries at vice ministerial level, according to the ministry, and comes as part of a three-day visit by a 24-member Taiwanese delegation to Lithuania.

In public remarks before the meeting, Chen said Taiwan and Lithuania have built ties based on shared democratic values even amid momentous changes internationally, in areas such as supply chains, trade and geopolitics.

Neliupšienė, meanwhile, said the dialogue would help to further expand business relationships that Lithuania's cutting-edge laser, life science and startup industries have begun to build with companies in Taiwan.

Taiwan opened a representative office in Lithuania last November, and sent economic delegations to the country in October 2021 and March 2022.

In the first quarter of this year, bilateral trade between the two countries increased by 30 percent to NT$44.87 million (US$1.52 million), Taiwan customs data shows.

At the same time, however, the Baltic state has come under heavy political and economic pressure from China over the name of the office - Taiwanese Representative Office.

Taiwan typically names its overseas representative offices "Taipei Economic and Cultural Office" or "Taipei Representative Office," in keeping with the host countries' preference to avoid any references that would imply Taiwan is a separate country from China.