Trade and Business in Luxembourg

The objectives of the subject “International Trade and Business in” Luxembourg” are the following:

1. To analyze the Luxembourger Economy and Foreign Trade (Import, Export, FDI)
2. To know the business opportunities in the Luxembourger Market
3. To analyze the Luxembourger trade relations with the country of the student
4. To know the Luxembourger free trade agreements as a member of the European Union (EU)
5. To develop a business plan for the Luxembourger Market

Luxembourger Preferential Access and Free Trade Agreements

1. Luxembourg and the European Economic Area
2. European Union
   1. Economic and Monetary Union
   2. European Customs Union
   3. European Single Market
   4. EU Services Directive
   5. European Digital Single Market
   6. As a member of the European Union, Luxembourg is a beneficiary of the EU Free trade agreements with Algeria, Ivory Coast, South Africa, South Korea, India, Mexico, Ukraine, Moldova, Georgia, MERCOSUR, Chile, Egypt, Jordan, Lebanon etc. besides the Customs Union with Turkey

Trade Facilitation Programs

1. World Trade Organization (WTO)
   1. WTO General Agreement on Trade in Services (GATS)
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS)
   3. WTO Agreement on Technical Barriers to Trade (TBT)
   4. WTO Agreement on Preshipment Inspection (PSI)
   5. WTO Agreement on Safeguards (SG)
   6. WTO Trade Facilitation Agreement (TFA)
2. World Customs Organization (WCO)
   1. Revised Kyoto Convention (RKC)
3. International Convention on the Harmonization of Frontier Controls of Goods (UNECE)
4. Convention on Contracts for the International Carriage of Goods Wholly or Partly by Sea (Rotterdam Rules, UN)
5. Convention on the Contract for the International Carriage of Goods by Road (CMR, UN)
6. International Chamber of Commerce (ICC)
7. Convention concerning International Carriage by Rail (COTIF)
8. International Bureau of Containers and Intermodal Transport (BIC)
9. International Civil Aviation Organization (ICAO, Chicago Convention)
10. International Maritime Organization (IMO)
    1. International Convention for Safe Containers (CSC)
    2. Convention Relating to Temporary Admission (Istanbul Convention)
11. International Road Transport Union (IRU)
    1. TIR Convention
    2. Guidelines on Safe Load Securing for Road Transport
12. Uniform Rules concerning the Contract of International Carriage of Goods by Rail (CIM, CIT)
13. Customs Convention on Containers (CCC, UN) - not a member

European Trade and Economic Organizations of Austria

1. European Union
   1. European Central Bank
   2. European Investment Bank (EIB)
   3. European Bank for Reconstruction and Development
   4. EU-CELAC Summit
   5. Group of States of the European Council Convention against Corruption (GRECO)
2. Organization for Security and Cooperation in Europe (OSCE)
3. Economic Commission for Europe (UNECE)

Global Organizations

1. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. World Intellectual Property Organization (WIPO)
2. World Bank (WB)
3. World Trade Organization (WTO)
4. International Monetary Fund (IMF)
5. Asian Development Bank (ADB)
6. African Development Bank (AfDB)
7. Organization for Economic Cooperation and Development (OECD)
   1. OECD anti-corruption measures
8. Asia-Europe Meeting (ASEM)
9. Community of Portuguese Speaking Countries (observer country)

The Grand Duchy of Luxembourg (Europe)

1. Luxembourger Capital: Luxembourg
2. Official Language of Luxembourg: French, Luxembourger, German
3. Luxembourger Area: 2,586 square kilometres
4. Luxembourger 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. Independence of Luxembourg: 1867 (Netherlands)

Religion in Luxembourg: Catholicism (Christianity)

Luxembourg belongs to the Western-Christian Civilization (European Economic Area)

Economy of Luxembourg.

1. The Grand Duchy of Luxembourg is one of the most important financial centres in Europe (28% of the Luxembourger GDP): investment funds and high-risk, private banking, capital management
2. Luxembourger GDP (nominal): 31,376 million EUR
3. GDP per capita: 68,500 Euros (one of the largest in the world)
4. Luxembourger Currency: Euro (1999)
5. Luxembourg is a member of the European Union since 1958
6. Luxembourg has an outstanding logistics platform thanks to its strategic position between France, Belgium and Germany
7. The Luxembourger steel industry is crucial
8. Luxembourg offers significant tax advantages for companies (it is one of the European Countries with least taxes)
9. There have been several scandals related to the 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 steel leader, has its headquarters in Luxembourg
12. 60% of the workforce is foreigner
13. The Headquarters of the Court of Justice of the European Union are in Luxembourg

Luxembourger Foreign Trade.

1. The main Luxembourger Exports are machinery, steel products, chemical products and rubber
2. Top Export Markets of Luxembourg: Germany (23%), France, Belgium, Italy
3. The main Luxembourger Imports are minerals, metals, airplanes, chemical products, luxury products
4. The main suppliers of Luxembourg are Belgium (31%), Germany, France, the United States

(c) EENI Global Business School (1995-2022)
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