Since opening its representative office in Vilnius over four years ago, Taiwan has sought to boost economic cooperation and attract investment to Lithuania. According to the Ministry of Economy and Innovation, Taiwanese direct investment has risen from EUR 0.53 million in 2021 to EUR 7.21 million in 2024, but the total remains small.
Relations between the two countries strengthened in late 2021 when Lithuania opened the world’s first Taiwanese representative office outside Taipei, a move that heightened tensions with China.
Since them trade between the two countries grew from EUR 111 million in 2021 to EUR 191 million in 2025, with imports rising faster than exports.
Elijus Civilis, head of Invest Lithuania, said Taiwan’s investment in Europe was limited, particularly in Central and Eastern Europe, making Lithuania’s early gains notable.
“Recent steps, such as academic and industrial cooperation, lay the groundwork for further engagement. Strategic discipline is crucial: the focus should be on consistent, long-term efforts, not quick results,” he said.
Key collaboration sectors include lasers, semiconductors, fintech and biotechnology. Taiwanese firms have invested in Lithuanian startups such as TransferGo and work closely with companies including Solitek, Litilit, Oxipit and Teltonika.
The Taiwanese office has also set up two investment funds for Central and Eastern Europe, with Lithuania taking a leading role in approved projects.
Joint projects are underway in drones, defence products and life sciences. The Lithuanian Laser Laboratory, set up in Taiwan in 2023 with government support, has already sold over 30 units of laser equipment, generating more than EUR 4 million.
Authorities aim to upgrade the lab’s equipment to support joint semiconductor technology development, though imports currently outweigh balanced trade. (LRT)