Luxembourg discusses trade ties with Dubai

The Grand Duke of Luxembourg, who is in Dubai to promote trade between the UAE and the European nation, was welcomed yesterday by the Crown Prince at the Emirates Towers hotel.

The relationship between the UAE and Luxembourg has grown dramatically over the past few years, especially in commercial exchanges in non-oil sectors.

Trade between the two countries rose by 125 per cent, from Dh106 million to Dh238m, over the course of past five years.

Luxembourg first opened its commercial and investment office in Dubai in 2004 and the two countries signed a deal to avoid double taxation on income in 2005.

Prince Guillaume Jean Joseph Marie was hosted by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai (pictured above). The two discussed areas of potential future co-operation. Prince Guillaume thanked Sheikh Hamdan for the warm welcome he received. (Wam)