A business matchmaking event between Taiwan and Lithuania on Tuesday resulted in signed and potential orders worth a combined US$25.88 million, the Taiwan External Trade Development Council (TAITRA, 外貿協會) said.
Sixty Taiwanese and 18 Lithuanian companies from sectors including manufacturing, logistics and food either signed deals or considered orders at the event, TAITRA said in a press release.
The Lithuanian businesses included Limarko Shipping, furniture manufacturer VMG Group, electrical equipment manufacturer Harju Elekter and technology firm BOD Group, TAITRA said.
Among the Taiwanese products they ordered were mechanical equipment, container ships, solar power panels and smart software, it said.
On the Taiwan side, machine tool maker Ying Han Technology Co (穎漢科技) attracted a lot of interest from Lithuanian buyers at the event and it hoped to take advantage of the opportunity to explore the European market, TAITRA said.
Separately, the Industrial Technology Research Institute on Tuesday said that it and Lithuania plan to establish a renovation and development center for ultrafast laser technology in Tainan this year.
As the Baltic state is strong in the field, it is hoped that the partnership could facilitate the industrial transformation of businesses in Taiwan, said the Ministry of Economic Affairs, which has been supporting the project.
The two countries also inked a memorandum of understanding (MOU) on laser technology cooperation earlier this month during the Taiwan-Lithuania Economic Dialogue in Taipei, the ministry said.
The MOU is aimed at generating business opportunities for high-tech industries on both sides, it said.
Bilateral economic and trade ties between Taiwan and Lithuania have developed rapidly since the Taiwanese Representative Office in Lithuania was set up at the end of 2021, followed by the inauguration of the Lithuanian Trade Representative Office in Taiwan in November last year, the ministry added.
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