Posted On 10/12/2017
An meeting between Luxemburg and Abu Dhabi Chamber attracts more than 200 companies operating in sectors that focus on creativity, innovation and sustainable growth
H.R.H. Crown Prince Guillaume of Luxembourg emphasized on the importance of expanding cooperation relations between Abu Dhabi, the UAE and Luxemburg in the fields of ITC, Cyber Security and Space Industries, calling on Abu Dhabi and Luxemburg companies to benefit from the capabilities and facilities available in both countries.
This came during an expanded meeting with officials from the Abu Dhabi Chamber headed by His Excellency Ibrahim Al-Mahmoud, 1st Deputy Chairman of the Abu Dhabi Chamber, in which the Crown Prince said that despite the challenges which his country and the UAE face; however, they were able to make significant progress in a number of sectors, which reflects the ability of both economies and their companies to support the development of economic, technological, services, and industrial activities to achieve the desired sustainable development.
H.R.H. Guillaume of Luxembourg pointed out that his country enjoys a diverse culture, which helped in attracting many investments and companies which took from Luxemburg a headquarter for its operations. He noted that 46% of the people of Luxemburg are foreigners, which makes it the most diverse country in Europe.
For his part, H.E. Ibrahim Al-Mahmoud, 1st Deputy Chairman of the Abu Dhabi Chamber, said that the Abu Dhabi Chamber, as per the directions of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE; and His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, is exerting a lot of efforts to develop economic and investment cooperation between Abu Dhabi companies and their counterparts in Luxemburg.
Al-Mahmoud stated that Luxemburg is one of the countries which has strong and historical ties with the UAE. “We are always aware to strengthen our relationship with Luxemburg on all levels, especially economic and investment ones considering its huge resources and capabilities. In this regard, we should establish a strategic investment partnership that covers all new sectors including renewable energy, financial services, tourism, and telecommunications considering them key sectors to the economy of both countries.
His Excellency Etienne Schneider, Deputy Prime Minister, Minister of the Economy, praised the accomplishments of Abu Dhabi in all fields and sectors, pointing out that the economy of the emirate is vibrant and rapidly evolving, which are features that Abu Dhabi share with Luxemburg.
The Minister added that many Emirati companies operate in financial markets in Luxemburg benefiting from the incentives and facilities which the government of his country offers for foreign companies and that his government work on diversifying its economy by focusing on research, sciences, and green technologies as well as developing logistics and space industries and increasing the use of renewable energy to face future challenges.
His Excellency Carlo Thelen, Director General of Luxembourg Chamber of Commerce, said that considering the limited population of his country, Luxemburg is focusing on developing sectors that rely on creativity, innovation and space industries in order to realize a sustainable growth. He pointed out that the membership of his country in the European Union provided it excellent opportunities that 80% of its products are being exported to the markets of the union.