“This decision was validated by the plenary assembly. Our contribution will be similar to that agreed for Dubai, i.e. around €3m,” said Frieden. This participation is on the condition that “the emphasis is placed on the economic and commercial aspect”.
The love affair will therefore continue, with the Chamber of Commerce having been a partner for Luxembourg at the exhibitions it has attended since 1851.
161 companies in six months
The success of Expo 2020 has obviously contributed to this decision. “In six months, we conducted six economic missions to Dubai, with a very international focus,” Thelen commented. “That’s 273 people from 161 companies, plus 80 ‘officials’ from the university, Luxinnovation, etc.”
The final assessment will be drawn up in Luxembourg in a few weeks, along with the other partners. “Obviously, companies don’t tell us how many contracts they sign here," Thelen went on. “But I know that some have already returned to finalise the contacts made during the missions.” This is the result of “good identification of partners, good networking and a tailor-made programme for the companies”.
“It’s for them that we are working here,” said Frieden, mentioning that the work, notably with the Luxembourg TRade and Investment Office in Dubai and the embassy, will continue in the months and years to come. “We are in it for the long haul. Especially since Dubai is a hub that must be used to find opportunities in the other Gulf countries.”
The ball is “in the court of the companies--we are only facilitators, after all,” the president emphasised. Expo 2020 “may be coming to an end, but for us it is still going on. We must now deepen the local contacts and enrich the contacts made.”
The LTIO said that 29 Luxembourg companies are already present in the Emirates, nine of which have set up in the last 18 months.
Frieden took advantage of his presence in the Emirates to insist several times on the importance of international trade “as a source of growth and enrichment for Luxembourg”. This was in response to economy minister Franz Fayot (LSAP), who recently indicated that trade with Russia should be reduced. “The international market remains very important,” insisted Frieden. “Turning inward is a no-no. Globalisation is here, whether we like it or not. A country’s growth also depends on the strength of its international trade.”
International trade to build bridges
The president of the Chamber of Commerce said that “it is wrong to believe that we cannot do business with a country with which we do not share all the same values. By cutting ourselves off from these countries, we punish their elites and push them to the wrong side. This is precisely what we must not do. Yes to international trade, open, fair, and within certain rules. But not our rules. We can’t impose ourselves on others like that. International trade is there to build bridges.”
This is why the presence of the Chamber of Commerce was “an obvious choice”, he said. And so it will be in Osaka.
This article in Paperjam. It has been translated and edited for Delano.