From 4 to 10 October 2015, the Luxembourg Chambre de Commerce will be joined by representatives of 11 companies from the Grand Duchy looking for new business opportunities on a multisectoral mission to Mexico and Colombia.
The idea behind the trip is to enhance the visibility of Luxembourg companies as well as highlight the advantageous geographical location of the country and its competitiveness in terms of logistics services.
In Bogotá, the delegation will participate in a seminar jointly organised by the Association of the Luxembourg Fund Industry (ALFI) and the Chambre de Commerce. Luxembourg Minister of Finance, Pierre Gramegna, will be present at the seminar on investment funds, logistics and technology, to deliver the opening speech. The Minister will then travel to Lima, Peru, to participate in the annual meeting of the International Monetary Fund (IMF) and the World Bank.
The Manager of Cluster for Logistics Luxembourg, Malik Zeniti, and the President of the FEDIL Business Federation Luxembourg, Robert Dennewald, will also join the mission.
Mexico currently ranks at 11th place amongst world powers due to its 2014 GDP of $2.143 billion and a domestic market of 122,300,000 inhabitants. The country has opened up economically in the last thirty years, focusing on the liberalisation of international trade and a policy of attractive investment, whilst many public sector companies have been privatised.
Today, the Central American country offers an attractive economic environment, political stability and competitive labour costs. Substantial progress has also been made to the macroeconomic environment and significant structural reform has been put in place.
Colombia, the second country on the programme, is the third economic power in Latin America, having gained in prosperity due to a population of 47 million inhabitants; a wealth of natural resources, including minerals, coffee, petrol and coal; and the quality of its workforce.
In addition, future growth forecasts for Colombia are stable with a rate of around 4.3% in 2015. Colombia constitutes one of the few countries in the region that has never renegotiated its foreign debt or been in default. Trade between Luxembourg and Colombia is due to be strengthened with a double taxation agreement which is currently being negotiated between the two countries.
Whilst in Mexico, the delegation will engage in a briefing on the cultural aspects of business relations in Mexico, followed by a promotional seminar dedicated mainly to the technology of information and communications logistics sectors.
The Luxembourg companies will receive amply opportunity to make contact with local partners during the first two days, with Belgian economic and trade attachés on site. The first day will be concluded with a reception at the belgian Embassy in Mexico City, where participants will have the opportunity to invite prospective clients.
Following a visit to the StartUp Mexico site, the first of its kind in the country, the delegation will join a roadshow in Bogotá, organised by ALFI. A visit from the 'Andes Flowerfarm' group, specialising in the production and export of flowers, has also been included in the programme. This last process is an important industry for Colombia, as the country is the second largest exporter of flowers to US states and the European Union.
The afternoon of 8 October 2015 will be comprised of business meetings between Luxembourg and Colombian companies, before a reception at the residence of the Belgian Embassy in Bogotá and a final business rendez-vous the following morning.
