A memorandum of understanding on innovative startup cooperation was concluded May 27 in Vilnius between Taiwan and Lithuania, reflecting commitment by the two countries to further cementing their bilateral ties, according to the Ministry of Economic Affairs.
The pact was inked by representatives from Taiwan’s Startup Terrace and Lithuania’s Public Institution Innovation Agency. Taiwan’s Deputy Minister of Economic Affairs Chen Chern-chyi, Rep. Eric Huang and Lithuanian Vice Minister of Economy and Innovation Elge Markeviciute witnessed the signing.
Under the MOU, the two government-backed facilities will pool resources to exchange and expand collaboration between the two countries’ groundbreaking ventures.
Given its advanced transportation infrastructure, rich pool of information technology personnel and advanced fintech, Lithuania is the perfect gateway for Taiwan’s creative firms seeking to expand their reach into the EU, the MOEA said.
As the EU member state expressed strong interest in working with Taiwan to tap into the Asian market, the ministry expected the tie-up to lead to substantial mutual business potential.
According to the MOEA, the signing took place during an event showcasing Taiwan’s startup ecosystem and resources. It was part of a three-day fact-finding visit led by Chen to the Baltic state.
Visit highlights included the first Taiwan-Lithuania Economic Dialogue staged May 25, visits to Vilnius Tech Park and Vilnius City Innovation Industrial Park, as well as several government agencies and emerging novel ventures, the MOEA said. (SFC-E)
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