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Promoting the Luxembourg economy abroad

Introduction

© SIP / Nicolas Bouvy, all rights reserved

 

The Ministry of the Economy regularly goes on missions abroad to promote the Grand Duchy of Luxembourg as a great place for business and to support Luxembourg export companies wanting to open up to new markets.

Organisation of trade missions

There are several formats for missions abroad. When the Hereditary Grand Ducal couple take part, the trade missions are presided over by HRH the Hereditary Grand Duke, in the presence of HRH the Hereditary Grand Duchess, and conducted by the Minister of the Economy. When the Grand Ducal Court is not involved in a mission, the latter is presided over by the Minister of the Economy.

On the one hand, trade missions aim to promote Luxembourg as a place that welcomes companies and attracts investments, and on the other, supports Luxembourg export companies in their efforts to conquer foreign markets. The missions thus make it possible to attract investments in Luxembourg and to open the way to business opportunities for Luxembourg companies.

The missions are organised by the Ministry of the Economy, in close cooperation with the Chamber of Commerce and Luxinnovation. The Luxembourg Trade and Investment Offices (LTIO), the embassies and consulates also play a key role in organising and conducting the missions and visits.

The Minister of the Economy also carries out regular working visits abroad, generally with a smaller scope than that of a trade mission, but which are still vital in order to develop and strengthen links with the countries visited.

Choice of destinations

The choice of destinations is decreed by the Ministry of the Economy, which bases its decision on the assessment carried out by its sector specialists, the LTIO and the Chamber of Commerce. The market analyses carried out by Luxinnovation also help to identify destinations with a real economic and commercial interest. The choice of destinations is thus the result of prior prospecting, focusing chiefly on very specific economic sectors, which correspond to the Grand Duchy's economic development strategy.

It is then the Ministry of the Economy's responsibility to put together the official programme, which also includes the organisation of political meetings and meetings with an economic interest. If the Hereditary Grand Ducal couple takes part, the ministry puts together the programme in close consultation with the Grand Ducal court. The Chamber of Commerce is called upon to supervise and support the commercial delegation made up of companies and other economic actors from Luxembourg.

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