Lithuania intends to strengthen relations with Taiwan further to attract foreign investment and promote international cooperation. From 3-6 September, Deputy Minister of the Economy and Innovation Karolis Žemaitis visits Taiwan. During the visit, he will meet with representatives of leading companies in the science and technology sector and potential investors. The Minister will meet a delegation from the laser industry and representatives of several Taiwanese banks and major companies. Lithuanian laser company delegates also travel to Taiwan to participate in a semiconductor exhibition. Meetings are also scheduled with representatives from the Ministry of Digital Affairs and the Ministry of Economic Affairs to explore potential avenues for strengthening cooperation.
“By combining the potential and experience of Lithuania and Taiwan, we are consistently looking for ways to create new cooperation opportunities for our businesses. We recently took an important step by signing a very important agreement on avoiding 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 Minister Žemaitis.
In August of this year, representatives from the Lithuanian Trade Representative Office in Taipei and the Taiwanese Representative Office in Lithuania signed an agreement to prevent double taxation of income and capital and to discourage tax evasion. This agreement aims to create a fairer tax system and enhance competitiveness in the international market. The Ministry of Finance will soon propose legislative amendments to implement it.
