Discover Luxemburg by SEV and Enterprise Greece – iLand was there!

Major opportunities in sectors such as ICT, e-commerce, supply chain, biotechnology and food were highlighted at the 'Discover Luxembourg' event, held on Thursday 9 February 2023.

The event, which aimed to strengthen economic relations with Luxembourg and inform Greek export companies about business opportunities there, was organized by SEV, the Hellenic Federation of Enterprises, the Athens Chamber of Commerce and Industry (A.C.C.I.), the Greek Exporters Association (SEVE) and Enterprise Greece, in collaboration with the Embassy of Luxembourg in Athens and with the support of Eurobank.
Luxembourg is an international financial hub, with a strong banking system and the second largest investment capital industry in the world. It is a market with a business-friendly environment, transparent and strong institutions, modern infrastructure, and unhindered access to FDI. It is a market with a competitive tax regime, friendly to foreign investors, and has a strong reputation as a sophisticated financial regulator, while also being characterized by high productivity and a well-trained and multilingual human capital.

The participation of companies and institutional bodies amounted to 70.

The event was greeted by Ms. Vicky Makrigianni, Director of International Relations and Regional Development at SEV, who stated that “our goal today is to explore and highlight the business opportunities in Luxembourg. In addition to its excellent location, Luxembourg has one of the most open economies in the world and is an attractive destination, which Greek businesses need to incorporate into their expansion strategy. Although our bilateral trade is not very developed and our exports to Luxembourg are relatively low, today's event could open new paths for future cooperation, leading to further strengthening of bilateral trade relations”.

Ms. Sofia Kounenaki Efraimoglou, President of A.C.C.I., took then the floor, saying that "Luxembourg is a country that has turned its small size into an advantage: taking advantage of its key geographical position in Europe, building an outward-looking and business-friendly economy. Indeed, in recent years, sectors such as supply chain, biotechnology, telecommunications, satellite communications, etc. have been developing dynamically. For our part, as A.C.C.I. we are here to support business moves - in cooperation with the country's official bodies. We are here to provide accurate and comprehensive information. To facilitate networking with potential partners - through organized business missions, forums and everything that Greek entrepreneurs need."

In his address, Mr Panagiotis Hasapis, Executive Vice President of SEVE, emphasized that Luxembourg is a market with excellent prospects for Greek businesses, but these have not yet translated into added value for the Greek economy, as the flow of goods between the two countries is low. However, he pointed out that this means that there is scope for further expansion of cooperation in new trade and investment areas. According to Mr. Butcher, "Discover Luxembourg lays the foundations for the prospects to turn into new partnerships for Greek export companies".

The event was greeted by the CEO of Enterprise Greece, Mr. Marinos Giannopoulos, who said: "The event provided the opportunity for the Greek business community to be informed of the opportunities offered by the Luxembourg market. The expansion of our cooperation in sectors such as ICT, e-commerce, supply chain and biotechnology, in which our country is developing significant projects, will contribute to the further development of bilateral trade relations between the two countries. Traditional sectors of the Greek economy, such as the food and agricultural products industry, also present opportunities for promotion. The shift of the Greek agricultural sector towards organic and natural ingredients, high quality crops and food safety will, I believe, be highly appreciated by consumers in Luxembourg".

The event was held in three sections. The first section on Bilateral Relations between Greece and Luxembourg, was addressed by Ms Elisabeth Cardoso, Ambassador of Luxembourg to Greece. In the second session, where emphasis was placed on the business and investment opportunities presented by the Luxembourg market, participated Mr. Alexandros Economou of the B3 Directorate for Bilateral Economic Relations with European Countries of the Ministry of Foreign Affairs, Ms. Jenny Hallen Hedberg from Luxinnovation and Ms. Eleni Albanti from Eurobank. During the last session of the event, which was about doing business in the Luxembourg market, Mr. Dimitris Karavasilis from DK Consultants Group and Mr. Nikos Psimogiannos from UniSystems shared their experience.