Taiwan will help Lithuania compete with China in the world of chips
Taiwan Institute of Industrial Technology and Teltonika will launch a joint project
Lithuanian tech company Teltonika announced plans to launch domestic semiconductor production in 2027, utilising Taiwanese technology.
This announcement came as the minister shared ambitions for Lithuania to become a major player in the global semiconductor sector. Taiwan has agreed to support Lithuania in the face of economic pressure from China, following Lithuania’s decision to allow Taiwan to open a de-facto embassy in Vilnius in November 2021.
The 2027 production goal is part of a 14 million euro ($15.2 million) cooperation agreement with Taiwan’s Industrial Technology Research Institute, which includes a 10 million euro grant from Taiwan’s foreign ministry.
This partnership with Taiwan will enable Lithuania to advance quickly, compete with the strongest players in the world, and achieve its ambitious goals. Since Lithuania allowed Taiwan to open a representative office in Vilnius, China, which claims Taiwan as its own territory, has downgraded diplomatic relations, hindered trade, and pressured multinational companies to cut ties with Lithuania.
In response to China’s discriminatory trade practices against Lithuania, the European Union has filed a challenge at the World Trade Organization. As a result, Lithuania’s trade with Taiwan has seen a significant increase of around in 2022.
Additionally, other bilateral deals have also been recently announced such as solar power module producer SoliTek receiving an 8 million euro ($8.7 million) credit from Taiwan’s Eximbank, and biotech startup Oxipit receiving a 3.5 million euro ($3.8 million) investment from venture fund Taiwania Capital.