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India, Luxembourg review bilateral ties, discuss enhancing trade

India, Luxembourg review bilateral ties, discuss enhancing trade
June 20
21:51 2018

New Delhi, June 20 (IANS) India and Luxembourg on Wednesday reviewed the entire gamut of bilateral ties and discussed ways to enhance trade between the two countries during the course of External Affairs Minister Sushma Swaraj’s visit to that west European nation, the External Affairs Ministry said on Wednesday.

According to a statement issued by the ministry, during the visit, Sushma Swaraj called on Grand Duke of Luxembourg Henri Ganriel Felix Marie Guillaume and Prime Minister Xavier Bettel.

“During the call on, the leaders discussed a wide range of issues including enhancing bilateral and India-EU (European Union) trade and investment ties, digital and space cooperation, fintech and diaspora contribution,” the statement said regarding the meeting with Bettel.

Trade and investment form the core of India-Luxembourg ties. While the Luxembourg-headquartered European Investment Bank recently opened its South Asia regional office in New Delhi, a number of Indian companies are also listed on the Luxembourg Stock Exchange.

Foreign direct investment from Luxembourg to India between April 2000 and September 2017 amounted to $ 2.227 billion making it the 15th largest investor in India, according to figures provided by the External Affairs Ministry.

Sushma Swaraj also held a meeting with Luxembourg Minister of Foreign and European Affairs Jean Asselborn.

“During the meeting, both sides undertook a complete review of India-Luxembourg political bilateral relations,” the ministry statement said.

“They also had extensive discussions on regional and multilateral issues.”

During the course of her visit to Luxembourg, Sushma Swaraj also interacted with members of the small Indian diaspora there.

This year also marks 70 years of diplomatic relations between India and Luxembourg.

Sushma Swaraj reached Luxembourg on Tuesday from France on the third leg of her week-long four-nation tour of Wurope that has also saw her visiting Italy.

This was the first ever visit by an Indian external affairs minister to Luxembourg.

From Luxembourg, Sushma Swaraj leave for Belgium on the fourth and final leg of her tour.

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