Vilnius: Taiwan said on Wednesday that it would make funds with $ 200 million (176 million euros) to invest in Lithuania, because the business there complained losses from the Chinese-Lithuanian line.
Lithuania allows Taiwan to open a representative office in Vilnius in November with its own name – a significant diplomatic departure that triggers bitter disputes with China.
“Taiwan is setting up investment funds with initial funding of 200 million US dollars to invest in the strategic Lithuanian industry for Lithuania and Taiwan,” said Eric Huang, head of the Taiwanese representative office in Lithuania.
He said the investment was part of Taiwan’s plan to develop economic bond with Lithuania after pressure from China.
Huang said funds will invest in semiconductors, lasers, biotechnology and similar Lithuanian industry, with the first investment expected this year.
The UE Baltic status opposed the pressure from Beijing and allowed Taipei to open the embassy de facto.
It encourages retaliation, Lithuanian business leaders and officials say, in the form of exports blocked from Lithuania and other economic restrictions.
A Taiwanese liquor company said this week that he had taken more than 20,000 bottles of Rum Lithuania which were blocked from China.
Huang said that 120 affected cargo containers were also purchased by Taiwan.
The United States, which is increasingly vocal in its concern about Beijing, also offers support to Lithuania.
United States Trade Representative Katherine Tai, in a telephone call with Lithuania Foreign Minister Gabrielius Landsbergis, promised cooperation to “overcome diplomatic and coercive economic behavior,” his office said.
State Secretary Antony Blinken, met in Washington with German Foreign Minister Annalena Baerbock, said that the two countries shared concerns about Beijing’s efforts to “bully” Lithuania.
“This is not only about Lithuania, but about how every country in the world must be able to determine foreign policy itself free of this type of coercion,” Blinken said at a shared press conference.
“And the United States will work with our allies and partners, including Germany, to fight intimidation like this from China by strengthening our economic resilience, diversifying our supply chains and against all forms of economic extortion,” he said.
The Lithuanian government has held the company even though President Gitan Nausta this week said it had been “a mistake” to allow Taipei to open an office in Vilnius using the name Taiwan.
Beijing Baulks on every international support for Taiwan so that he provides a sense of international legitimacy to the island, which is considered part of his area and has promised one day by force if necessary.
Lithuania plans to open its own trading office in Taiwan in the first months of 2022.
Solidarity comes when Taiwan continues to lose the number of small countries that increasingly recognize it, with Nicaragua toggle last month.