Luxembourg mission due

By The Nation
Published on November 11, 2008

A trade mission from Luxembourg will be in Bangkok from tomorrow to Friday to explore mutual opportunities for commerce and investment.

Economy and Foreign Trade Minister Jeannot Krecke will host a seminar on "Discover Luxembourg" at the Conrad Hotel on Thursday to stimu¬late trade and investment between the two countries.

Located in the heart of Western Europe, surrounded by Germany, France and Belgium, the GrandDuchy of Luxembourg is a founding member of the European Union, part of the largest eco¬nomic, customs and monetary union in the world.

The country's main advan¬tages are its strategic location as a gateway to the European market of over 500 million consumers, logistics and telecommunications infra¬structure, a qualified multilin¬gual workforce, its legal and tax framework and its quality of life.

Minister Krecke said yes¬terday that diversifying mar¬ket services has led to the development of businesses in insurance and reinsurance, transport, commerce, tourism, telecommunications, ecom¬merce, audiovisual and com¬pany services.

Luxembourg's GDP has been growing by an average of 5 per cent over the last 25 years and its standard of liv¬ing is among the highest in the world. Its economy is based on a wide range of industries, particularly steel, chemical, plastics and syn¬thetic materials, engineering, mechanical construction, industrial machinery, process¬ing of ferrous and nonferrous metals, automobile, precision instruments, electronic sup¬plies and glass.

Home to 154 banks drawn from 26 countries, Luxembourg is one of the eight leading financial centres in the world - a sophisticated market, supported by government policies that seek to develop its core industry.

In parallel with the growth of private banking, the development of other industries, such as investment funds and life insurance, is reinforcing Luxembourg's claim to be Europe's premier centre for all forms of personal investment business.

Known as the "Green Heart of Europe", Luxembourg has a fully developed tourist sector - based on its thousand year old capital, its rich architecture, its small towns, and its natural scenery.

While Luxembourgish is the national language, the population is fluent in French and German. English is widely used throughout the business community.

For more information, the Luxembourg Embassy in Bangkok, email: Bangkok.Amb@mae.etat.lu, or phone (02) 677 7360.

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Luxembourg mission due

A trade mission from Luxembourg will be in Bangkok from tomorrow to Friday to explore mutual opportunities for commerce and investment.

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