Lithuania and Taiwan expect to finalise an economic cooperation action plan by the end of May and sign it formally in early June.
Lithuania and Taiwan are seeking to strengthen economic ties, although previous expectations for a breakthrough following the opening of the Taiwanese Representative Office in 2021 have not been fully met.
Discussions regarding relations with China and the naming of the Taiwanese Representative Office also remain on Lithuania's political agenda.
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Lithuania’s Foreign Ministry said on Tuesday that the agreement was reached during a meeting in Vilnius between local officials and Constance Wang, head of the Taiwanese Representative Office in Lithuania.
"The economic cooperation plan demonstrates a firm determination to pursue a mutually beneficial partnership focused on the development of modern technologies and can finally become a value-creating stage in Lithuanian-Taiwanese economic relations," said Deputy Foreign Minister Vidmantas Verbickas.
The plan outlines cooperation in high-tech sectors, the defence industry, finance, semiconductors, science and innovation, agriculture, legal regulation, and joint development projects in Ukraine.
The ministry stated that both sides agreed to move toward the implementation of specific measures in the near future to ensure that the planned initiatives yield tangible benefits for both economies and their shared strategic goals.
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