(L-R): Étienne Schneider, Luxembourg's Deputy Prime Minister and Minister of the Economy; Fu Ziying, Deputy Minister in charge of international trade of the People's Republic of China;
Credit: MECO
In the context of the 21st Joint Economic Commission between the Belgo-Luxembourg Economic Union (BLEU) and China, Luxembourg's Deputy Prime Minister and Minister of the Economy, Étienne Schneider, met with the Deputy Minister in charge of international trade of the People's Republic of China, Fu Ziying.
On the agenda of the meeting was the development of trade as well as the strengthening and diversification of sectoral cooperation between the two countries.
During the meeting, Minister Schneider notably presented the assets and the actors of the Luxembourg automotive components sector which employs more than 10,000 people and achieves a turnover of €1.5 billion. Like the IEE company based in Luxembourg and now owned by Chinese investors, Étienne Schneider invited Chinese automakers to consider the Grand Duchy more as an industrial site specialising in research and development (R&D) for automobile components and as a common digital experimental site for automated and connected driving.
Following the meeting at the Ministry of the Economy, Minister Schneider talked about the potential for cooperation at the space sector level: "At the meeting with the Chinese high-level delegation, we found a mutual interest to collaborate in the context of the SpaceResources.lu initiative with regard to R&D projects and for the establishment of an international legal framework for exploring and using space resources. Ultimately, we wish to formalise such cooperation with the People's Republic of China through a Memorandum of Understanding."
