Taiwan Establishes $200 Billion Fund for Anti-China Lithuania

[Asia Economy Reporter Yujin Cho] Taiwan is establishing a fund worth $200 million (approximately 240 billion KRW) to invest in Lithuania, which is pursuing an anti-China stance.

On the 5th (local time), according to major foreign media, Eric Huang, head of the Taiwan Representative Office in Lithuania, stated, "We will establish a fund with an initial capital of $200 million to invest in Lithuanian industries," adding, "The fund will be established by the Taiwan National Development Fund and will receive support from the Central Bank."

He mentioned that the semiconductor, laser, and biotechnology sectors will be the first investment targets this year, and that the fund will be set up as soon as possible with hopes of producing concrete results within the year.

Eric Huang added, "Taiwan will seek ways to connect Lithuanian companies to the Taiwanese supply chain," and noted, "There is also potential to integrate Lithuania's laser industry with Taiwan's semiconductor industry."

Although Lithuania maintains diplomatic relations with China, it has recently been the most proactive European Union (EU) member state in strengthening ties with Taiwan, playing a role akin to the 'vanguard of anti-China' within Europe.

In November last year, Taiwan and Lithuania opened a "Taiwan Representative Office" in the capital Vilnius, rather than a "Taipei Representative Office," prompting China to retaliate by downgrading diplomatic relations with Lithuania from ambassadorial to charg? d'affaires level and imposing economic sanctions on Lithuania.

The United States has also confirmed its intention to cooperate with Lithuania. Katherine Tai, U.S. Trade Representative (USTR), recently pledged cooperation with Lithuanian Foreign Minister Gabrielius Landsbergis in responding to China's coercive diplomatic and economic actions during a phone call.

Earlier, U.S. Secretary of State Antony Blinken emphasized solidarity with Lithuania, which is facing increasing political and economic pressure from China, during a meeting with the German Foreign Minister to discuss the Ukraine situation.

This content was produced with the assistance of AI translation services.