Background
Following the last two successful editions of the ASEAN* Day in Luxembourg in 2017 and 2020, the Luxembourg Ministry for Foreign and European Affairs, in partnership with the Chamber of Commerce, the Ministry of the Economy, the Ministry of Finance and the ASEAN Brussels Committee will organise a third edition of ASEAN Day on 4 May 2020. Just like in previous editions, this event will bring together stakeholders from governments, finance institutions and the private sector to discuss how to strengthen relations between Luxembourg, the EU and ASEAN. It is is free of charge and open to all companies based in Luxembourg interested in doing business in South East Asia. The working language will be in English.
*The Association of Southeast Asian Nations
The EU and ASEAN, key trading partners
The EU and ASEAN are key partners. The latest figures show that ASEAN is the world’s eighth-largest economy in the world with some 640 million consumers. The countries as a group are the EU’s thirdlargest trading partner outside Europe, after the US and China, with more than €189.47 billion of trade in goods in 2020. The EU is by far the largest investor in ASEAN countries. In 2019, the Foreign Direct
Investment (FDI) stocks in ASEAN accounted for €313.6 billion. Although a more recent phenomenon, ASEAN investment in Europe has also been growing steadily and impressively to a total stock of over €144 billion in 2019. The EU and its Member States, therefore, have a strategic interest in deepening
their relations with ASEAN countries and trade relations are a main pillar of the EU’s relations with ASEAN. Existing and future bilateral free trade agreements (FTA) will create new business opportunities for both regions and serve as building blocks towards a future EU-ASEAN agreement, which remains the EU’s ultimate objective.
As a founding member of the EU, Luxembourg continues to support ASEAN’s community-building efforts and is committed more than ever to deepening its relations with the ASEAN countries. In 2020,
total trade in goods between the ASEAN countries and Luxembourg have amounted to about €400 million, while total trade in services – including financial services – reached €1.5 billion.
Why is it interesting to participate in ASEAN day?
In the aftermath of the pandemic, the need to recover dynamic, inclusive, and sustainable growth to
redressthe legacy of the pandemic has never been more acute. Resilience is becoming a building block
of Europe-Asia relations and Luxembourg, as one of the most open economies worldwide, wants to
play a bigger role in establishing links between the ASEAN and the EU. Luxembourg therefore aims to
extend its connections with ASEAN, which already covers a wide range of sectors, ranging from finance
to investments, fintech, transport, logistics, information and communication technologies and many
other aspects that contribute to the resilience of our populations.
During this year’s opening session, our Ambassador in Thailand, Mr. Jean-Paul Senninger, with
regional responsibilities covering Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand and
Vietnam will give a keynote address on the business opportunities in Luxembourg for ASEAN countries.
After the family picture, a first panel discussion will focus on business opportunities in ASEAN
countries. Every ASEAN country will outline its latest business and investment opportunities while also
sharing updates on ASEAN’s regional economic integration. This will be followed by the “business
clinics” session, allowing for direct exchanges between representatives from the private sector and
ASEAN embassies.
Objectives
The ASEAN Day will provide a unique platform for ASEAN countries and companies from Luxembourg
to exchange information and explore business opportunities inter alia in the areas of
- innovation
- research
- connectivity
- green finance
Participants:
- ASEAN Embassies
- Trade offices
- Representatives from capitals
- The Luxembourg Chamber of Commerce
- The Luxembourg Ministry of Foreign and European Affairs
- The Ministry of the Economy
- The Luxembourg Ministry for Digitalisation
- The Luxembourg Ministry of Finance
- The Luxembourg Ministry of Higher Education and Research
- Luxembourg companies operating in South East Asia or interested in doing business in ASEAN
- EU, EIB, LFF, LGX, GGGI representatives, International Climate Finance Accelerator (ICFA)
All delegates are required to register latest by 28 April 2022.
Please click the button below to see full programme details and register for all or part of the sessions.