Lithuanian officials are focusing on concrete economic cooperation plans with Taiwan, moving beyond initial dreams and expectations towards actionable projects.
In a recent statement, Lithuanian Minister K. Budrys emphasized the shift from vague aspirations to practical collaboration with Taiwan. The aim is to define specific economic projects that can offer mutual benefits and enhance the outcomes of their partnership. The Minister indicated that this shift is crucial in capitalizing on the intentions previously established in their discussions regarding investment and cooperation.
Over four years ago, the establishment of a Taiwanese representative office in Lithuania sparked optimism concerning the potential for increased cooperation and investment. While it was expected that this would lead to significant Taiwanese investments in Lithuania, recent reports show that despite a notable increase in investment flows from Taiwan, the total amount remains modest. According to data from the Ministry of Economy and Innovation, direct Taiwanese investments in Lithuania rose from 0.53 to 7.21 million euros between 2021 and 2024.
Prime Minister Inga Ruginienė has highlighted the necessity of renewing discussions surrounding Taiwanese investments in Lithuania. However, the specifics of how these discussions will be structured remain uncertain. As Lithuania seeks to enhance its economic ties with Taiwan, the government is committed to developing a structured plan that translates their ambitions for cooperation into tangible economic benefits.
