L-R: Franz Fayot, Luxembourg's Minister of the Economy; Luc Frieden, President of Luxembourg's Chamber of Commerce; Credit: MECO

Luxembourg's Minister of the Economy, Franz Fayot, and the President of the Chamber of Commerce, Luc Frieden, announced on Tuesday the official opening of a Luxembourg Trade & Investment Office (LTIO) in Casablanca in Morocco. 

On Tuesday 6 October 2020, at the end of the half-yearly meeting of the Trade and Investment Board (TIB), Minister Franz Fayot and Luc Frieden presented the recent initiatives that have been taken, particularly in the context of the COVID-19 pandemic, to support Luxembourg companies in their efforts to internationalise. Such measures include the opening of an LTIO in Casablanca and the launch of the Digital Marketing guide.

LTIO Casablanca

Created in 2017, the TIB is responsible for drawing up the strategy for promoting the Luxembourg economy and federating the players involved. Placed under the Honorary Presidency of His Royal Highness the Hereditary Grand Duke and chaired by the Minister of Economy, the TIB is composed of thirteen members, representing the nine ministries and organisations (Chamber of Commerce; FEDIL; Luxinnovation; Chamber of Crafts) that play a role in economic promotion. The TIB supervises the work of the Trade and Investment Steering Committee (TISC), which brings together the key players implementing economic promotion and prospecting activities.

Over the last six months and following the pandemic, the work of the TISC has focussed mainly on the access of Luxembourg companies to international markets and the development of the economic promotion network. The strengthening of the international economic promotion network materialised with the official opening of a ninth LTIO in Casablanca, the first one in Africa. The mission of LTIOs is twofold: on the one hand, they aim to support Luxembourg companies in the establishment and development of their activities in the market and region where the office is located; on the other hand, they accompany foreign companies from the local market who are interested in developing their activities in Luxembourg.

The creation of an additional LTIO in Morocco was announced at the end of the last economic mission in September 2019, as a result of the existing strong potential for development and cooperation, particularly in the field of the digital economy. Morocco also acts as a regional hub for developing activities in Maghreb and more largely in Africa. The office is headed by Atman Haloui, who combines this new position with that of Honorary Consul of Luxembourg in Casablanca. He is assisted by Kenza Jouahri, Trade Officer, who joined him on 1 June 2020.

The Ministry of the Economy and the Chamber of Commerce are organising a webinar entitled "Luxembourg-Morocco: a new avenue for partnerships" on 10 November 2020, in order to raise awareness and inform interested Luxembourg and Moroccan companies as well as a number of personalities from the political and economic world of the services of this new office.

Digital Marketing Guide

In order to facilitate access to international markets for Luxembourg companies, a digital marketing guide to help companies in their internationalisation efforts has been launched. Aimed at companies of all sizes wishing to take advantage of digital opportunities and benefit from the tools, training and financial assistance available, the online guide highlights the latest trends in digital marketing to help companies strengthen their online presence and adjust their international strategy, particularly in the challenging times of coronavirus.

Ranging from the creation of a website, through online advertising, online marketplaces, video conferencing, marketing automation and social networks, the guide explains how to implement these practices within any company, regardless of the status of its digital development, while ensuring that a sufficient level of cyber security is respected. The guide also includes the contact details of the international business advisers of the Chamber of Commerce and the Ministry of the Economy as well as Luxembourg's economic and commercial attachés around the world, including the LTIOs, to support Luxembourg companies wishing to obtain personalised advice on how to develop their business abroad. The guide is available in French and English at: https://www.digitalguide.tradeandinvest.lu.

Luc Frieden commented: "I would like to stress that in these economically difficult times, when the reflex to pull back tends to dominate the international scene, opening up companies to the outside world remains essential for their development. Internationalisation is indeed an important element of the recovery. International development is more than ever a key factor in the success of companies and will continue to offer them multiple opportunities. To this end, the Chamber of Commerce and its partners at Trade & Invest offer a full range of services to support and motivate companies to continue their efforts in this area".  

Economy Minister Franz Fayot concluded: "In the current context, where travel abroad is limited and digital transformation is accelerating, while international trade remains an important source of income for Luxembourg companies, the strengthening of our international network is welcome. Also, the implementation of a digital marketing guide for the internationalisation of companies responds perfectly to two essential axes for the development of the Luxembourg economy, which are internationalisation and digitalisation".