By Baron Henri Estramant.
An economic mission organised by “Luxembourg for Finance” took place in Abu Dhabi from 1-3 March 2015. The mission was presided over by His Royal Highness The Hereditary Grand Duke of Luxembourg, Prince Guillaume accompanied by his wife, Stéphanie, the Minister of Finance, Pierre Gramegna, and a Luxembourgian business delegation.
The mission’s aim is to promote greater collaboration between Luxembourg and the United Arab Emirates when it comes to financial services.
The Hereditary Grand Ducal Couple was received in audience to discuss bilateral relations, and the boost of economic ties by His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs of the UAE.
Their Royal Highnesses and the Minister of Finance were particularly eager to meeting representatives of Abu Dhabi’s Sovereign Wealth Fund to learn from their experience for Luxembourg’s very own Inter-generational Sovereign Fund. The net worth of Abu Dhabi’s sovereign fund is estimated to amount to $773 billion.
Minister Pierre Gramegna met the Governor of the UAE’s Central Bank, HE Mr. Mubarak bin Rashid bin Khamis Al Mansoori, moreover the CEOs and presidents of the main banks established in the Emirate of Abu Dhabi. He also took the opportunity to meet Mr. Ahmed Al Sayegh, President of Abu Dhabi Global Market (ADGM).
The princely economic mission followed a visit on 28 October 2014 by Luxembourg’s young and rather active Prime Minister Xavier Bettel. At the time he was met at Mina al-Salam Hotel, in Dubai, by the Emirati Minister of Foreign Affairs.
The meetings were also attended by the UAE’s non-resident ambassador to the Grand Duchy of Luxembourg, Mr. Sulaiman bin Hamid bin Salim Al Mazroui. He is resident in Brussels, and responsible for relations also to Belgium and the EU.
For more information:
Ministry of Finance: www.gouvernement.lu/4497775/01-gramegna-abudhabi
Luxembourg for Finance: www.luxembourgforfinance.com
Abu Dhabi Investment Authority: www.adia.ae/En/home.aspx
