Lithuanian technology company Teltonika announced its intention to launch semiconductor production in the country in 2027 using Taiwanese technologies. Taiwan has pledged to help Lithuania resist economic pressure from China – the country allowed Taiwan to open a de facto embassy in Vilnius in November 2021.
Teltonika said the 2027 production is part of a €14 million cooperation agreement with the Taiwan Industrial Technology Research Institute, including a €10 million grant from the Taiwan Ministry of Foreign Affairs.
“Partnership with Taiwan will help Lithuania move forward quickly, match the world’s strongest players and achieve its ambitious goals,” said Minister of Economy and Innovation Ausrin Armonaite.
China, which considers self-ruled Taiwan its own territory, has downgraded diplomatic relations with Lithuania, cut trade and pressured multinational corporations to remove the state from their supply chains after the opening of a Taiwan office in Vilnius. After that, the European Union filed a complaint with the World Trade Organization, accusing China of discriminatory trade practices against its member.
In 2022, Lithuanian trade with Taiwan increased by about a third. In other recent bilateral deals, solar module maker SoliTek on Wednesday announced an €8 million loan from Taiwan’s Eximbank, while biotech startup Oxipit announced a €3.5 million investment from Taiwania Capital, Lithuania’s BNS reported.
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Source: Reuters
