Credit: MFIN
Luxembourg's Ministry of Finance has reported that Minister Gilles Roth recently undertook a financial mission to Tokyo in Japan.
After his trip to Singapore, Luxembourg's Minister of Finance, Gilles Roth, went on a financial mission to Tokyo from Saturday 9 to Tuesday 12 November 2024 with Luxembourg for Finance (LFF).
In the Japanese capital, the minister had "productive" discussions with Atsushi Mimura, Japanese Vice Minister of Finance for International Affairs, and Ryozo Himino, Deputy Governor of the Bank of Japan, in particular on the macroeconomic situation and relations between the two countries in the financial sector. Minister Roth also met with the heads of the main financial institutions in Japan.
Minister Roth commented: "Our financial mission here in Japan has allowed us to further deepen the excellent political, economic and financial relations between our two countries. Luxembourg is a reliable partner of Japan for the development of its financial sector internationally, particularly with regard to the green transition and the country's ambitions to develop its role as an asset management hub."
The Finance Ministry noted that Japan represents the main market for the Luxembourg financial centre in Asia, with strong growth potential, particularly for alternative investment funds, but also with a view to portfolio diversification for Japanese investors; financial services represent 77% of Luxembourg's trade in services with Japan.
In addition, Luxembourg's financial centre currently has six Japanese banks whose international competence centre for investment funds is located in the Grand Duchy. There are also three Japanese insurance companies whose European headquarters are located in Luxembourg.
Minister Roth concluded: "I draw a positive assessment of our financial mission in Singapore and here in Japan. Asia offers strong future potential, both for Luxembourg and for its financial centre."
(Pictured: Gilles Roth, Luxembourg's Minister of Finance; credit: MFIN)
