The Chamber of Commerce launches its London Business Club

A multi-sector trade mission will start in London on 7 June. Organized by the Luxembourg Chamber of Commerce in collaboration with the Embassy of the Grand Duchy of Luxembourg in London, it will take place over two days.

This June 7 also marks the establishment of the Chamber’s fourth business club abroad. The official launch will take place at the residence of Jean Olinger, Ambassador of the Grand Duchy of Luxembourg to the United Kingdom. London thus joins the international network of Luxembourg business clubs. The first was launched in Berlin in 2012 by Cindy Tereba, director of international affairs. This year it celebrates its 10e birthday. The Paris and Brussels business clubs were established in 2014 and 2016 respectively.

“These markets are also our most important business partners, so opening business clubs in these four markets is critical for us. This is to improve contact between the already closely connected business communities, but above all to provide them with a platform to network, enter into partnerships, exchange ideas, etc.”, explains Christophe Brighi.

As well as the opportunity to learn about trade and investment opportunities in the UK, participants will have the chance to discover some of the historic projects in the London landscape. On a visit to the Grand Duchy in May, Britain’s Trade Commissioner for Europe Chris Barton estimated that bilateral trade was “about £13 billion a year. More than 90 to 95% of this amount concerns the service sector: financial services and other business services: telecommunications, IT, etc.

Christophe Brighi, who has already helped Luxembourg companies with their internationalization strategies and advised them on market strategies to enter the UK, says that “after Brexit it makes even more sense to bring the two countries closer together. We must emphasize the business communities , but also nurturing the existing commercial links between the two markets”.

Although the business club was founded by the Chamber of Commerce, Christophe Brighi says it will be run by the companies themselves, through a president whose name has not yet been disclosed.

Christophe Brighi adds that much of his work over the past year has focused on the UK’s exit from the European Union. “My main tasks at the beginning of last year and throughout the year were to support our companies that have suffered from the impact of Brexit on their business activities,” he explains. “We set up a Brexit hotline… all businesses affected in any way were able to contact us. We have researched and advised on the new reality, the new administrative burdens imposed on trade with the UK… trade is not as smooth as it used to be.”

The launch of the London business club was originally planned for the first quarter of 2022. It had to be postponed due to the Covid pandemic. It will finally take place on 7 June in the presence of the Finance Minister, Yuriko Backes (DP), which, according to Christophe Brighi, “makes a very strong signal that the UK remains an important trading partner for us … business sees that the two markets are truly interconnected and complementary”.

The international agenda of the Luxembourg Chamber of Commerce has been quite busy this year. In March, she reached a record 300 registrants at the Mipim real estate market show in Cannes, France, marking the 15e anniversary of the presence of a Luxembourg national flag.

For more information on upcoming Luxembourg Chamber of Commerce events, including the international agenda, visit
cc.lu

This article was written by
Delano
in English, translated and edited by Paperjam in French.

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