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Etienne Schneider has visited Moscow for a meeting of the joint Commission on economic cooperation between the BLEU and Russia
Published Thursday February 18 2016
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As of February 18, 2016, the Deputy Prime Minister, Minister of Economy, Etienne Schneider, presided in Moscow the Luxembourg delegation to the 10th session of the joint Commission on economic cooperation between the Belgo-Luxembourg Economic Union (BLEU) and the Russian Federation. Acting as an institution coordinator, the commission is composed of representatives of the Russian, Belgian and Luxembourg authorities in charge of economic and trade relations in their respective countries. The commission's mission is to improve the investment climate and develop trade relations between these three countries. Etienne Schneider was accompanied in Moscow by a business delegation supervised by representatives of the Chamber of Commerce. The discussions at the meeting of the Joint Commission were structured around 4 main headings for the Luxembourg companies, namely logistics, transport, industry and innovation. Following the meeting of the Joint Commission, the Deputy Prime Minister, Minister of Economy stated: "Russia has great potential and important advantages for foreign investors. This is illustrated by the fact that a Luxembourg company recently launched a battery production plant for the automotive industry in the Samara region. The strong Luxembourg presence here in Moscow shows that many companies are willing to implement new projects in Russia". Due to various activities of the financial center, Luxembourg is listed as the third largest investor in Russia. Some jewels of the Luxembourg economy are active on the Russian market, especially in the industrial production sector (Guardian, Paul Wurth, Astron-Lindab, Accumalux) or the logistics sector (Cargolux, CFL Multimodal). |