Taiwan stated on Tuesday that a US$1 billion loan fund will be established soon to promote Taiwan-Lithuania commercial collaboration and enhance bilateral economic ties, as well as to counteract rising Chinese economic pressure.
According to Kung Ming-hsin. chief of Taiwan’s National Development Council (NDC), the credit fund is separate from a US$200 million fund Taiwan had agreed to utilize to prioritize investment in Lithuania before expanding it to include other Central and Eastern European countries.
He also stated that Lithuania will be the first country with whom Taiwan will collaborate as part of its soon-to-be-launched new cooperation program, which President Tsai Ing-wen announced during her New Year address in order to boost Taiwan’s ties with Europe.
Ausrine Armonaite, Lithuania’s Economy and Innovation Minister, complimented Taiwan for purchasing many of Lithuania’s export consumer items that had been rejected by China.
In November of last year, Taiwan established a representative office in Vilnius.
Beijing is putting increased political and economic pressure on Lithuania for allowing the term “Taiwanese” to be used in the name of Taiwan’s representative office in the Baltic state.
Taiwan’s de facto embassies in most countries are known as “Taipei Economic and Cultural Office” or “Taipei Representative Office,” owing to the host country’s desire to avoid any semblance of considering Taiwan as a separate country due to Beijing’s “one-China” philosophy.
China views Taiwan to be an inseparable part of its sovereign territory under the principle.
As a result, Beijing has attempted to levy a penalty on Lithuania for allowing the use of the term “Taiwanese” in the name of Taiwan’s office.
Beijing has recently taken retaliatory steps against Lithuania, including recalling its ambassador and expelling the Lithuanian ambassador, as well as halting direct freight train services and prohibiting Lithuanian products from entering the Chinese market.
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https://focustaiwan.tw/politics/202201110023