Commerce extérieur
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On June 3, 2024, the Luxembourg Chamber of Commerce hosted the fourth ASEAN Day, a significant event aimed at fostering deeper economic and diplomatic ties between Luxembourg and the ASEAN countries i.e. Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. Organized in partnership with the Luxembourg Ministry of Foreign and European Affairs and Foreign Trade and the Luxembourg Embassy in Bangkok, this year’s celebration focused on enhancing connectivity and promoting sustainable finance.
Launched in 2018, ASEAN Day aims to deepen understanding and cooperation between Luxembourg and ASEAN countries. The event has evolved into an important platform for discussing business opportunities in digital transformation, innovation, connectivity, and finance. It also serves to strengthen people-to-people links and academic and research collaborations.
ASEAN is a giant with huge opportunities. Not only for the well-known Luxembourg financial center, but for many other sectors, like health tech, renewable energies, automotive, space, IT, startups as well as in the fields of research and academic exchanges; where Luxembourg is successful and where synergies can be considered and explored.
The EU and ASEAN became strategic partners in 2020, underscoring their robust economic relationship. ASEAN, the world's fifth-largest economy, is the EU's third-largest trading partner outside Europe. Luxembourg is committed to deepening these ties, with total trade between Luxembourg and ASEAN countries reaching 9.2 billion EUR in 2023. This upward trend reflects the mutual interest in expanding business operations and exploring new market opportunities.
The Asian Day was officially opened by Mr. Carlo Thelen, Director General of the Luxembourg Chamber of Commerce, followed by remarks from H.E. Mr. Kingphokeo Phommahaxay, Ambassador of Laos and representative of the ASEAN Brussels Committee. The keynote address by H.E. Mr. Patrick Hemmer, Ambassador of Luxembourg in Thailand, highlighted the burgeoning business opportunities between Luxembourg and ASEAN nations.
Morning presentations on investment trends and business opportunities in ASEAN were followed by tailored business meetings between Luxembourg companies and ASEAN embassies.
The afternoon sessions delved into potential collaboration avenues in ICT, space research, and digital transformation. Experts from both the public and private sectors discussed the latest connectivity trends in Luxembourg and how these can bridge collaborations with ASEAN countries. A second expert panel explored the role of sustainable finance in mitigating climate change impacts, highlighting Luxembourg's success in leveraging green debt instruments for sustainable development in emerging markets.
ASEAN Day 2024 underscores the dynamic relationship between Luxembourg and ASEAN countries, paving the way for sustainable, innovative, and mutually beneficial partnerships through focused discussions and strategic collaborations.
