Marketing agency Enterprise Lithuania is seeking to help companies from the Baltic country sell their products in Taiwan through Taipei-based e-commerce platform PChome Online Inc (網路家庭), the agency said in a statement on Tuesday.
Companies that would take part in Enterprise Lithuania’s initiative from the spring of next year would be announced later this month, said Rasa Uzdavinyte, who heads the agency’s export department.
The nonprofit agency is run by the Lithuanian Ministry of Economy and Innovation. It promotes entrepreneurship, and supports business development and exporters.
The selection of companies and establishment of a logistics network would continue until the initiative begins, Uzdavinyte said.
“Lithuania’s exports to Taiwan have been small so far, and several Lithuanian products for general consumption are gaining ground in this market, especially Lithuanian food and beverage brands,” she said.
Uzdavinyte also expressed hope that the initiative would help expand the range of Lithuanian products available in Taiwan.
Taiwanese would hopefully associate the country with high quality, good taste and sustainability, she said.
“We believe that Lithuanian food and beverage products, cosmetics, clothing and textiles should be in demand in Taiwan,” Uzdavinyte said.
Taiwan is one of the highest-developed economies in the world and its population has significant purchasing power, she said, calling the Taiwanese market one of the most attractive export destinations in Asia.
Taiwanese are interested in trying new products, Uzdavinyte said, adding that the nation’s interest in Western culture would benefit Lithuanian exporters.
However, as there is little awareness among Taiwanese about what Lithuania has to offer, Enterprise Lithuania is planning a series of marketing events focused on the strengths of Lithuanian businesses, she said.
Data from the Lithuanian Department of Statistics showed that exports to Taiwan totaled 10 million euros (US$11.24 billion) in the first half of this year, up 7.2 percent from the same period last year.
Optical devices accounted for the largest share of exports at 24 percent, followed by wood and wood products at 22 percent, chemical products at 17 percent and food products at 6 percent, the data showed.
Chemical and basic metal products, machinery equipment, clothing and textiles, and food products have significant potential to gain traction in the Taiwanese market, the agency said.
MULTIFACETED: A task force has analyzed possible scenarios and created responses to assist domestic industries in dealing with US tariffs, the economics minister said The Executive Yuan is tomorrow to announce countermeasures to US President Donald Trump’s planned reciprocal tariffs, although the details of the plan would not be made public until Monday next week, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. The Cabinet established an economic and trade task force in November last year to deal with US trade and tariff related issues, Kuo told reporters outside the legislature in Taipei. The task force has been analyzing and evaluating all kinds of scenarios to identify suitable responses and determine how best to assist domestic industries in managing the effects of Trump’s tariffs, he
TIGHT-LIPPED: UMC said it had no merger plans at the moment, after Nikkei Asia reported that the firm and GlobalFoundries were considering restarting merger talks United Microelectronics Corp (UMC, 聯電), the world’s No. 4 contract chipmaker, yesterday launched a new US$5 billion 12-inch chip factory in Singapore as part of its latest effort to diversify its manufacturing footprint amid growing geopolitical risks. The new factory, adjacent to UMC’s existing Singapore fab in the Pasir Res Wafer Fab Park, is scheduled to enter volume production next year, utilizing mature 22-nanometer and 28-nanometer process technologies, UMC said in a statement. The company plans to invest US$5 billion during the first phase of the new fab, which would have an installed capacity of 30,000 12-inch wafers per month, it said. The
Taiwan’s official purchasing managers’ index (PMI) last month rose 0.2 percentage points to 54.2, in a second consecutive month of expansion, thanks to front-loading demand intended to avoid potential US tariff hikes, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. While short-term demand appeared robust, uncertainties rose due to US President Donald Trump’s unpredictable trade policy, CIER president Lien Hsien-ming (連賢明) told a news conference in Taipei. Taiwan’s economy this year would be characterized by high-level fluctuations and the volatility would be wilder than most expect, Lien said Demand for electronics, particularly semiconductors, continues to benefit from US technology giants’ effort
‘SWASTICAR’: Tesla CEO Elon Musk’s close association with Donald Trump has prompted opponents to brand him a ‘Nazi’ and resulted in a dramatic drop in sales Demonstrators descended on Tesla Inc dealerships across the US, and in Europe and Canada on Saturday to protest company chief Elon Musk, who has amassed extraordinary power as a top adviser to US President Donald Trump. Waving signs with messages such as “Musk is stealing our money” and “Reclaim our country,” the protests largely took place peacefully following fiery episodes of vandalism on Tesla vehicles, dealerships and other facilities in recent weeks that US officials have denounced as terrorism. Hundreds rallied on Saturday outside the Tesla dealership in Manhattan. Some blasted Musk, the world’s richest man, while others demanded the shuttering of his
RSS