The Bank of Taiwan, the largest Taiwanese bank, is interested in setting up a representative office in Lithuania as a springboard for expanding business in Central and Eastern Europe, the Verslo Žinios business website reports.
According to the report, the Financial Supervisory Commission of Taiwan has approved the state-owned bank’s application to set up an office in Lithuania. Paulius Lukauskas, head of the Lithuanian Trade Representative Office in Taipei, has confirmed this to Verslo Žinios.
In its comments to local media, the Bank of Taiwan has emphasised deepening economic ties with Lithuania and its geographical position between Europe and Eurasia. It said that setting up an office in Lithuania would help exploit business opportunities in Central and Eastern European markets and expand the bank’s business abroad.
According to Lukauskas, Taiwanese banks will be encouraged to follow Taiwanese investments in Europe, including by the Taiwanese chip giant TSMC which plans to invest in a new semiconductor plant in Germany.
The Bank of Taiwan currently has 11 offices abroad, including in the US, Hong Kong, Japan, Singapore, the UK, South Africa, and Australia.
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