The partnership with Taiwan is being further strengthened to attract foreign investment to Lithuania and promote international cooperation. To this end, Karolis Žemaitis, Vice-Minister of the Economy and Innovation, will visit Taiwan, where he will meet with representatives of leading companies in the science and technology sector and potential investors.

“By combining the potential and experience of Lithuania and Taiwan, we are consistently looking for ways to create new cooperation opportunities for our businesses. Just recently, we took an important step by signing a very important agreement on the avoidance of double taxation, which will open the door to more investment and create more favourable conditions for business development. We are therefore currently engaged in a focused discussion on investment opportunities,” said K. Žemaitis, Vice-Minister of the Economy and Innovation.

In August this year, representatives of the Lithuanian Trade Representative Office in Taipei and the Taiwanese Representative Office in Lithuania signed an agreement on the avoidance of double taxation of income and capital and on the prevention of tax evasion. This will help to ensure a fairer tax system and increase competitiveness in the international market. The Ministry of Finance will shortly prepare amendments to the legislation establishing this.

During his visit to Taiwan on 3-6 September, Vice-Minister of the Economy and Innovation K. Žemaitis will meet with a delegation from the laser business, as well as with representatives of several Taiwanese banks and leading companies. Representatives of Lithuanian laser companies are also travelling to Taiwan to participate in a semiconductor exhibition.

Meetings are also planned with representatives of the Ministry of Digital Affairs and the Ministry of Economic Affairs. During these meetings, possible ways of strengthening cooperation are expected to be discussed.