Franz Fayot and Luc Frieden gave an update on participating in the Osaka World Expo and the consequences of the war in Ukraine for companies

  1. (left to right) Franz Fayot, Minister of Economy; Luc Frieden, President of the Chamber of Commerce; Carlo Thelen, director of the Chamber of Commerce

  2. (left to right) Franz Fayot, Minister of Economy;  Luc Frieden, chairman of the Chamber of Commerce

    (left to right) Franz Fayot, Minister of Economy; Luc Frieden, chairman of the Chamber of Commerce

  3. (left to right) Franz Fayot, Minister of Economy;  HRH the Hereditary Grand Duke;  Luc Frieden, chairman of the Chamber of Commerce

    (left to right) Franz Fayot, Minister of Economy; HRH the Hereditary Grand Duke; Luc Frieden, chairman of the Chamber of Commerce

  4. (left to right) Franz Fayot, Minister of Economy;  Luc Frieden, chairman of the Chamber of Commerce

    (left to right) Franz Fayot, Minister of Economy; Luc Frieden, chairman of the Chamber of Commerce

On the occasion of the Osaka 2025 World’s Fair, Luxembourg is taking part in a world’s fair for the 25th time. The pavilion to be developed on this occasion will reflect the country’s desire to focus on sustainable and innovative development, in line with the UN Sustainable Development Goals. The Luxembourg pavilion will be designed in a spirit of circularity, as foreseen in the specifications of the call for projects launched in February 2022. It is expected that the design of the pavilion will allow it to be easily dismantled, transported and, if necessary, optionally adjustable. In addition, consideration must be given to the materials used, their sustainability and their reuse. At the beginning of June 2022, a jury composed of representatives of the various ministries involved, the Chamber of Commerce, the Order of Architects and Consulting Engineers and the Administration of Public Buildings will meet to select the winning project.

Minister Franz Fayot stated: “The profile of this universal exhibition, which proposes through the central theme of ‘Designing the society of the future, imagining our lives of tomorrow’ to explore all facets of sustainable development, will be the opportunity to innovative country and to emphasize our ambition to combine economy and ecology, in particular through an exemplary implementation of the principles of the circular economy.I am also very pleased with the decision of the Chamber of Affairs to cooperate with our presence in osaka.”

During the press conference, the economy minister also announced that two large-scale foreign trips are planned for 2022 after the state visit to Portugal next week in the context of promotion and economic prospection. For example, from 19 to 24 June 2022, an official economic mission led by HRH the Hereditary Grand Duke will be led by the Minister of the Economy, Franz Fayot, and the Director General of the Chamber of Commerce, Carlo Thelen, to Canada. another economic mission, by the end of the year, is for South Korea.

The TIB meeting was also an opportunity to take stock of the impact of the war in Ukraine on foreign trade and the activities of Luxembourg companies. Significant upheavals for world economies, including Luxembourg’s, and for a number of key sectors have indeed resulted from this conflict. The logistics and continuity of supply chains are strongly affected, at the same time energy and raw material prices are rising sharply and supply can be jeopardized.

In order to answer the many questions from companies and to offer them a single point of contact in the context of this crisis, the Chamber of Commerce, the Ministry of Economic Affairs, the Ministry of Foreign and European Affairs and the Ministry of Finance have set up a helpdesk. . This contact and support point collects questions from Luxembourg companies in the context of the war in Ukraine in order to provide the most appropriate answers to the various issues.

Despite a tense political situation, Luc Frieden, President of the Chamber of Commerce, says: “The Luxembourg economy depends on its international openness. International trade not only contributes to the prosperity of all, but also strengthens understanding and cooperation between nations. This is why it is important to bet on the diversification of economic relations.”

The Trade and Investment Board, as an advisory body to foreign trade and investment, is responsible for developing the strategy to promote the Luxembourg economy to facilitate the access of Luxembourg companies to international markets and to attract targeted foreign direct investment, in particular through bring together the actors involved. Placed under the honorary presidency of HRH the Hereditary Grand Duke, the TIB is chaired by the Minister of Economic Affairs, and brings together representatives of other ministries and organizations involved in economic promotion and prospecting (Chamber of Commerce, FEDIL, Luxinnovation, Chamber of Commerce).

Communicated by the Ministry of Economic Affairs and the Chamber of Commerce

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