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Trading with Luxembourg

Trade between Scotland and Luxembourg presents an intriguing dynamic, blending the historical strengths of both regions with contemporary opportunities in various sectors.  Despite their differing sizes, both Scotland and Luxembourg boast robust economies with unique advantages.

Scotland, renowned for its rich natural resources, particularly in sectors like energy, whisky and seafood, holds a significant position in the global market.  Luxembourg, on the other hand, serves as a financial powerhouse within Europe, acting as a hub for investment and finance.

Luxembourg hosts the EU's financial and legal institutions and is also the European headquarters for Amazon, PayPal and Skype.

Benefits for Scottish businesses wanting to export to Luxembourg include:

- English widely used as a business language

- Only a few hours travel from the UK to Luxembourg

- Identical standards and work procedures to the UK in the finance sector

The country boasts strong intellectual property protection, an open economy, a diversified international community, high household income and a solid legal and regulatory framework.

Doing business in Luxembourg is very similar to doing business in Scotland.  If your product or service is successful here, there's a good chance you could be successful in Luxembourg and at present there are no major challenges to UK companies.

Total trade in goods and services between the UK and Luxembourg was £18.3 billion (in the four quarters to the end of Q2 2023); an increase of 13.4%.

Why Should You Attend?

The complementary nature of their economies opens doors for collaboration and mutually beneficial partnerships.  Scottish renewable energy firms could find opportunities in Luxembourg's commitment to sustainable development and its need for clean energy solutions.  Similarly, Luxembourg's expertise in finance and investment could provide crucial support for Scottish businesses seeking capital and expansion opportunities.

The burgeoning technology sectors in both regions offer fertile ground for joint ventures and knowledge exchange, leveraging Scotland's innovation ecosystem with Luxembourg's favorable regulatory environment. By fostering closer ties and exploring synergies, businesses in Scotland and Luxembourg can unlock new avenues for growth and competitiveness in an increasingly interconnected global economy.

Take the opportunity to network with the delegates, seize new business opportunities, explore potential partnerships and lay the groundwork for future collaborations.

The Delegation

The Scottish Chambers of Commerce is delighted to be welcoming a delegation from Luxembourg to the All-Energy conference in Glasgow on 15th and 16th May.  With a large number of delegates, the Scottish Chambers of Commerce and Luxembourg Chamber of Commerce have created a plan to connect businesses, specifically in the fintech and greentech spaces.

If you are interested in meeting with the delegation please eMail our International Trade Director, Seona Shand for more information.

Criteria

Companies must:

- be registered in Scotland

- be new to exporting or new to this market

- have an export level below £7M per annum


Testimonial from a Trade Mission Participant

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Luxembourg, Luxembourg

When

Start: 15/05/2024
End: 16/05/2024

Where

Luxembourg - Luxembourg
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If you have any questions about applying for the mission, please get in touch.
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