Embassy of the Grand Duchy of Luxembourg and the Luxembourg Trade Office (LTIO)
On 20 November 2011, the new Embassy of the Grand Duchy of Luxembourg and the Luxembourg Trade and Investment Office (LTIO) were officially inaugurated in Abu Dhabi. The role of Luxembourg’s Embassy in Abu Dhabi is twofold: on the one hand, political representation, and on the other hand, promotion of Luxembourg’s interests in the UAE. The Embassy is a platform for conducting bilateral relations and more generally promoting Luxembourg, its culture, institutions and economy. As for the economic component, the Trade and Investment Office, or LTIO, is committed to assist GCC businesses for their expansion to Luxembourg and entrance into the European markets.
The LTIO facilitates trade between Luxembourg and the Gulf region and supports Luxembourg-based businesses in establishing and developing their activities in the Gulf region.
Services to companies that are interested in setting up a presence in Luxembourg:
Information on the general and sector-specific business environments and related government policies;
Services offered to Luxembourg-based companies interested in setting up in the Gulf region:
Tailor-made visiting programs and practical help with the establishment of a company in Luxembourg;
Access to high-ranking government officials and key network contacts including the House of Entrepreneurship (One-Stop-Shop), the agencies Luxinnovation and Luxembourg for Finance, the Luxembourg University, research centers, business accelerators etc…
Contact facilitation with potential business partners;
Information on immigration and visa questions;
Advice on the local business environment;
Information on market entry conditions;
Contact with local authorities which oversee company establishment;
Introduction to business networks;
Contact facilitation with potential business partners.
Name: Luxembourg (long form: Grand Duchy of Luxembourg) Capital City: Luxembourg (110.499 pop.) Luxembourg Population: 590,667 residents (as of 1 January 2017) Currency: Euro Ethnicity:Luxembourger 53.3%, Portuguese 16.2%, French 7.2%, Italian 3.5%, Belgian 3.5%, German 2.2%, other EU 7.3%, other 5.2% GDP total: $59.95 billion (2016 est.) GDP per capita: $102 019 (2016 est.) Language: Luxembourgish (national language), German (administrative language), French (administrative language) Largest Cities: (by population) Luxembourg, Esch-sur-Alzette, Dudelange, Differdange, Schifflange, Bettembourg, Pétange, Ettelbruck, Diekirch, Strassen Name: The prefix luxem- is derived from the Celtic word Lucilem, meaning “small,” while the suffix -bourg is from the Germanic burg, meaning “castle.” Together, lucilemburg means “little castle.” National Day: June 23 Religion:Roman Catholic 87%, other 13% (includes Protestant, Jewish, and Muslim)
Background
Luxembourg, officially the Grand Duchy of Luxembourg is a landlocked country in Europe, bordered by Belgium, France and Germany. It has two principal regions: the Oesling in the north as part of the Ardennes massif and the Gutland (“good country”) in the south. A representative democracy with a constitutional monarch, it is ruled by a Grand Duke, it is now the world’s only remainingsovereign Grand Duchy.Reflecting its geographic position, Luxembourg’s culture is a fusion of Romance and Germanic Europe, borrowing customs from each of the distinct traditions. Luxemburg is a trilingual country: Luxemburgish, French and German are official languages.
Economy
Luxembourg is one of the smallest member states within the European Union but the dimensions of its economy are by far exceeding the size of its national territory. The country has a highly developed economy, with the world’shighest GDP (nominal) per capita according to the IMF. With an average GDP growth of 5% over the last 20 years, the Luxembourgian economy is characterized by higher economic performance compared to its neighbouring countries, based on a truly sustainable model.
Luxembourg’s stableand high-income market economy features moderate growth, low inflation, and a high level of innovation. The industrial sector, which was dominated by steel until the 1960s, has since diversified to include chemicals, rubber and other products. During the past decades, growth in the financial sector has more than compensated for the decline in steel production. Services, especially banking and finance, account for the majority of economic output. Luxembourg is the world’s second largest investment fund centre (after the USA), the most important banking centre in the Eurozone and Europe’s leading centre for reinsurance companies. Moreover, the Luxembourg
government has aimed to attract internet start-ups, with Skype and Amazon being two of the many internet companies that have shifted their regional headquarters to Luxembourg.
Luxembourg Today
Luxembourg is a founding member of the European Union, NATO, OECD,United Nations, Benelux, World Trade Organization and the Western EuropeanUnion, reflecting the political consensus in favour of economic, political, and military integration.
The city of Luxembourg, the largest and capital city, is home to:
the Secretariat of the European Parliament;
a Directorate- General and services of the European Commission, in particular the statistical office Eurostat and a large part of the translation service;
the Court of Justice of the European Union, the General Court and the Civil Service Tribunal, with an Appeal Court for the European Unitary Patent due to take up residence in the near future;
The European Court of Auditors
the European Investment Bank and the European Investment Fund;
the Consumers, Health, Agriculture and Food Executive Agency;
the Publications Office of the European Union, official publisher of the publications of the institutions of the EU and in particular of the Official Journal of the European Union, which contains legislation in the form of regulations, directives and decisions.
Luxembourgish companies in the UAE are among others involved in clean energy and alternative fuels as well as power efficient construction.
