Doing 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;
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.

The Subject “Foreign Trade and Business in Luxembourg” belongs to the following Online Higher Educational Programs taught by EENI Global Business School:

Doctorate (DIB): European Business, World Trade.

Masters (MIB): International Business, Foreign Trade.

Learning materials in + Luxemburgo Luxembourg Luxemburgo.

1. Credits of the Subject “International Trade and Business in” Luxembourg”: 1 ;
2. Duration: one week.

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.

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 kilometers;
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 centers 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 (1995-2023)
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