Doing Business in Luxembourg

EENI- School of International Business

Subject (Course) - Foreign Trade and Business in Luxembourg

1. Introduction to the Grand Duchy of Luxembourg (the European Union)
2. The Luxembourger Economy: one of the most important financial centres of Europe
3. Doing Business in Luxembourg
4. Luxembourger Foreign Trade
5. Foreign direct investment (FDI) in Luxembourg
6. Access to the Luxembourger Market
7. Business Plan for Luxembourg

Objectives of the subject “Doing Business in Luxembourg”:

1. To analyse the Luxembourger Economy and Foreign Trade
2. To evaluate business opportunities in the Luxembourger Market
3. To analyse the trade relations of Luxembourg with the student's country
4. To know the free trade agreements of Luxembourg as a member of the European Union (EU)
5. To develop a business plan for the Luxembourger Market

Subject Description: Doing Business in Luxembourg

The Grand Duchy of Luxembourg (Europe)

1. Capital: Luxembourg
2. Official Language: French, Luxembourger, German
3. Area: 2,586 square kilometres
4. Population: 543,202 of people
5. Type of Government: Parliamentary Monarchy
6. Borders of Luxembourg: France, Germany and Belgium
7. Luxembourg is a landlocked country
8. Religion in Luxembourg: Catholicism (Christianity).
9. Luxembourg belongs to the Western Christian Civilisation (European Economic Area)
10. Independence: 1867 (Netherlands)

Economy of Luxembourg.

1. The Grand Duchy of Luxembourg is one of the most important financial centres in Europe (28% of Luxembourg GDP): investment funds and high-risk, private banking, capital management
2. GDP (nominal): 31,376 millions of euros
3. GDP per capita: 68,500 euros (one of the largest in the world)
4. Currency: Euro (1999)
5. Luxembourg is a member of the European Union since 1958
6. Outstanding logistics platform thanks to its strategic position between France, Belgium and Germany
7. The steel industry is crucial
8. Luxembourg offers significant tax advantages for companies (it is one of the European countries with the least taxes).
9. There have been several scandals related to tax evasion that has hit companies like Pepsi Cola, Ikea, Procter & Gamble, FedEx, Accenture, Burberry, JP Morgan, Deutsche Bank or Amazon
10. The OECD does not consider Luxembourg as a tax haven
11. Arcelor Mittal, the world leader in steel, has its headquarters in Luxembourg
12. 60% of the workforce is foreign
13. Headquarters of the Court of Justice of the European Union: Luxembourg

Luxembourger Foreign Trade.

1. Main Luxembourger Exports: machinery, steel products, chemical products and del rubber
2. Top Export Markets of Luxembourg: Germany (23%), France, Belgium, Italy
3. Main Luxembourger Imports: minerals, metals, aeroplanes, chemical products, luxury products
4. Main suppliers of Luxembourg: Belgium (31%), Germany, France, the United States
5. As a member of the European Union, Luxembourg is the beneficiary of the Free trade agreements of the EU

International economic relations of Luxembourg

1. International Chamber of Commerce
2. World Bank
3. Organisation for Economic Cooperation and Development (OECD)
4. World Trade Organisation
5. Economic Commission for Europe (UNECE)
6. Group of States of the Council of Europe Convention against Corruption (GRECO)
7. European Union
8. International Monetary Fund (IMF)
9. European Investment Bank (EIB)
10. European Bank for Reconstruction and Development
11. Organisation for Security and Cooperation in Europe (OSCE)
12. United Nations
13. Asia-Europe Economic Meeting (ASEM)

Examples of the subject - Foreign Trade and Business in Luxembourg: