Luxembourg's Deputy Prime Minister, Minister of the Economy and of Health, Étienne Schneider, will be leading an economic mission, chaired by His Royal Highness the hereditary Grand Duke and in the presence of Finance Minister Pierre Gramegna, to the United Arab Emirates (UAE) from 27 to 29 January 2020.
A business delegation with representatives from over 80 Luxembourgish companies from the logistics, space technology and health sectors will accompany the Hereditary Grand Duke and ministers on this mission to Dubai and Abu Dhabi. The purpose of the mission is to further strengthen political and economic relations between the two countries and to promote Luxembourg's financial centre in the region.
Indeed, Luxembourg maintains close bilateral relations with the UAE, as evidenced by the more than 50 high-level visits and contacts that have taken place so far. This year will also mark the 40th anniversary of the establishment of diplomatic relations with the UAE, which is Luxembourg's most important trading partner in the Gulf region.
For the current year and in 2021, the culmination of the Grand Duchy's bilateral cooperation with the UAE will be Luxembourg's participation in the Expo 2020 in Dubai, taking place from 20 October 2020 to 10 April 2021. The universal exhibition is expected to attract more than 25 million visitors and some 200 countries and international organisations who will present their ideas and solutions around the theme "Connecting Minds, Creating the Future".
In order to strengthen financial relations between the two countries and regions, the Hereditary Grand Duke and Pierre Gramegna will have meetings with members of the UAE government. They will also meet with senior officials from the region's financial sector.
Monday 27 January 2020
The first day of the mission will see Luxinnovation and the Dubai Future Foundation, the innovation agency supported by the government of Dubai to promote the technological transformation of the UAE, sign a cooperation agreement. This agreement will allow startups and technology companies in Luxembourg to benefit from local development and funding programmes.
In Abu Dhabi, Economy Minister Étienne Schneider and his UAE counterpart, Sultan bin Saeed Al Mansouri, will sign an economic cooperation agreement which follows on from the several existing agreements between Luxembourg and the UAE. The Hereditary Grand Duke and Étienne Schneider will then attend a seminar specifically dedicated to investments and financing in the space sector in the presence of Dr. Ahmad Belhoul Al Falasi, Minister of State for Higher Education and Chairman of the UAE Space Agency.
In addition, the Hereditary Grand Duke and Pierre Gramegna will meet with senior officials from the financial sector and investors from the region. Luxembourg's Finance Minister will also be received by his counterpart Obaid bin Humaid Al Tayer, UAE Minister of State for Financial Affairs.
Tuesday 28 January 2020
On day two of their economic mission, the official delegation will attend an economic seminar at the Dubai Chamber of Commerce and Industry. Organised by the Luxembourg Chamber of Commerce with local partners, this event will, on the one hand, present the Luxembourg economic environment to the UAE business community and, on the other hand, show businesses the opportunities offered by UAE, as a gateway to Middle Eastern markets.
Next, the Hereditary Grand Duke and Étienne Schneider will visit the Luxembourg pavilion at the Arab Health trade fair in Dubai, which is considered to be one of the most important platforms in the world dedicated to the healthcare industry. Six companies are present on the Luxembourg stand.
The second day of the visit will also be marked by the promotion of the Luxembourg financial centre. Pierre Gramegna will have a meeting with Arif Amiri, the CEO of the Dubai International Financial Centre (DIFC), followed by meetings with experts in the field of Islamic finance.
Wednesday 29 January 2020
On the third day of the mission, the Hereditary Grand Duke and Ministers Étienne Schneider and Pierre Gramegna will visit the site of the Luxembourg pavilion at Expo 2020 Dubai. A series of cooperation agreements will be signed with UAE and Luxembourg figures to ensure the proper functioning of the pavilion. They will also meet Sheikh Ahmed bin Saeed Al Maktoum, Chairman and CEO of Emirates Airline & Group and chairman of the Expo 2020 Dubai Higher Committee.
