(L-R) Gilles Roth, Minister of Finance; Karin Keller-Sutter, Federal Councillor of the Swiss Confederation; Credit: MFIN

Luxembourg’s Minister of Finance, Gilles Roth, recently visited Switzerland as part of a financial mission with Luxembourg for Finance (LFF), the Development Agency for the Financial Centre, aimed primarily at further strengthening relations between the two countries.

In this context, Gilles Roth had an exchange with the Federal Councilor of the Swiss Confederation, Karin Keller-Sutter. The discussions focused primarily on the current macroeconomic and geopolitical situation, the respective priorities for the financial sector in Switzerland and the European Union, as well as the possibilities for cooperation between Switzerland and Luxembourg as leading financial centres.

Minister Roth emphasised: “Switzerland and Luxembourg are both multilingual nations, embodying openness and internationalism. Our economies are home to important global financial centres and we are both committed to promoting sustainable investments. With the Federal Councillor, we have also agreed to further develop our bilateral relations, particularly aiming to support sustainable and impactful investments at the international level.

In Geneva and Zurich, Minister Roth met the leaders of the main Swiss financial institutions, in particular, to discuss their strategic priorities and the development of their activities in the European Union and Luxembourg.

Both in Zurich and in Geneva, the Minister delivered the opening speeches of the events organised by LFF, bringing together professionals from the Swiss and Luxembourg financial centres. He particularly emphasised the importance of interconnected financial markets, essential elements for mobilising investments to support the double green and digital transition of our economies: “Swiss banks have been present in Luxembourg for more than half a century, while Swiss fund promoters today represent nearly 13% of assets under management in Luxembourg funds. Strong links have also existed in the insurance and reinsurance sector for a long time. As pioneers of sustainable finance, Switzerland and Luxembourg also have a key role to play in this area. As Minister of Finance, I would like to further strengthen our bilateral relations, particularly in the financial sector. I am convinced that Switzerland and Luxembourg, as open economies, are natural allies. Together, we must defend free trade and the opening of financial markets.