The fact that microchips are part of every electronic device has led to them being referred to as the oil of the 21^st The manufacturing of microchips is concentrated in three countries – the U.S., South Korea, and Taiwan. Taiwan produces roughly one-half of the world’s microchips. For this reason, a bilateral partnership with Taiwan could facilitate Lithuanian business missions and attract Taiwanese, chip-related investment in Lithuania.

Lithuania also has the opportunity to make use of economic cooperation with Taiwan by acquiring the competencies necessary for building a semiconductor ecosystem, and by adopting good practices. Closer bilateral cooperation would create opportunities for private Lithuanian companies and universities to provide their specialists or students with internships at the world’s largest semiconductor production and design companies. One such area requiring more extensive competencies is chip design – knowing how to design them, and upon procuring the requisite architecture, would make it possible to create original microchip designs and place orders for their production.

We will be seeking to attract more investment, provide assistance with the expansion of export of Lithuanian goods and services, and promote bilateral technological cooperation.

Lithuania could not only become Taiwan’s gate to the European market, but also expand the operations of its startups in Taiwan.