UAE-Luxembourg looks to increase trade in key industries

The UAE and Luxembourg are looking to increase cooperation in key areas such as industrial, ICT, healthcare technologies, finance, Islamic banking and space sectors, officials said at the UAE-Luxembourg Business Forum.

"Over the past ten years, I have had the pleasure to visit the UAE, more specifically Dubai, on a regular basis - and every time, I am impressed to see how this country and this city have progressed. It is good to see such a vibrant and dynamic community, which simultaneously cherishes its heritage. Combining tradition and economic development is something that we, in Luxembourg, are constantly aiming to achieve too," said Prince Guillaume.

Etienne Schneider, Deputy Prime Minister, Minister of Economy, Minister of Health, Grand Duchy of Luxembourg said The UAE IS already today the most important partner of Luxembourg in the Middle East in terms of trade and investment.

"The close and thriving partnership between our two countries will be further strengthened and developed with Luxembourg's participation in Expo 2020 Dubai," he said during UAE-Luxembourg Business Forum. Schneider added that Luxembourg's Expo 2020 pavilion would reflect the country's values and strengths and promote open exchange between the Middle East and Europe.

Majid Saif Al Ghurair, Chairman of Dubai Chamber, highlighted the many synergies shared by the UAE and Luxembourg as open economies that have transformed and grown rapidly over the decades. He noted that the two countries share a common vision guided by forward-looking strategies designed to diversify their economies, boost foreign trade and attract investors and companies from around the world.

He revealed that Dubai's non-oil trade with Luxembourg increased 35 per cent to $69 million in 2018, adding that there is huge potential to expand the scope of bilateral trade in the future. - waheedabbas@khaleejtimes.com