It is impossible to completely eliminate China in a global world where all our value chains are intertwined. It has invested heavily in technology despite being a communist country. Ausrine Armonaite told the Lithuanian business news website vz.lt that trade with this country will recover.
Lithuania and the EU are taking steps to make sure that happens, but a lot depends on them as well. The minister said that Lithuania was not the only country that sanctioned itself.
Lithuania's exports to China fell by 67 percent to 60.7 million euro in January-September, while Lithuania's exports of goods of Lithuanian origin fell by 81.5 percent to 25.7 million euro, according to data from Lithuania's statistics service, Statistics Lithuania.
In response to the opening of a Taiwanese representative office in Vilnius, Beijing restricted diplomatic relations with Lithuania and blocked the country's exports. The European Union turned to the World Trade Organization early this year.
Lithuania opened its trade office in Taipei earlier this month.