The Luxembourg Trade and Investment office will be the first in Africa.
Rabat – The Luxembourg government announced on Wednesday the opening of a Trade and Investment Office (LTIO) in Casablanca.
The opening of the office comes as part of the strengthening of economic and trade relations between Morocco and Luxembourg.
Luxembourg announced the decision to open the office in September 2019.
The office is the ninth in the network and the very first in Africa.
A statement from LTIO Casablanca announced that the office will serve Luxembourg companies seeking to invest in Morocco.
Luxembourg to Open Trade and Investment Office in Casablanca“The objective also being to identify opportunities in Morocco and more widely in Africa for Luxembourg companies from different sectors.”
The announcement of the official opening of LTIO Casablanca came on October 6 at the end of the half-yearly meeting of the Trade and Investment Board (TIB).
The Trade and Investment Board is responsible for “drawing up the strategy for promoting the Luxembourg economy and federating the players involved,” the office said.
Luxembourg’s Minister of Economy Franz Fayot said that Morocco represents a “real hub towards the African continent and displays many sectors complementary to our policy of economic diversification.”
He said that amid COVID-19, “where travel abroad is limited and digital transformation is accelerating, while international trade remains an important source of income for Luxembourg companies, the strengthening of our international network is welcome.”
The minister also announced a webinar on November 10 that the Ministry of Economy and the Luxembourg Chamber of Commerce will hold jointly.
The webinar will discuss the benefits and services of the new Luxemburg trade office in Casablanca.
“The office is an important step aimed at strengthening economic exchanges between Luxembourg and Morocco, said head of the LTIO Atman Haloui.
The Luxembourg Trade and Investment Office will also support Mooccan investors and companies to access Luxembourg as a European gateway.
In addition to the office in Morocco’s Casablanca, Luxembourg , New York, San Francisco, Seoul, Shanghai, Taipei, Tel Aviv, and Tokyo also host LTIOs.