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Agreements
Economic RelationsThere are regulary reciprocal visites of business delegations taking place (1999, 2003, 2005...). Trade*Pre and post 1 May 2004 data are incomparable. After accession to the EU, the import is calculated on the basis of the sending country, earlier this was based on the country of origin. Commodity exhange between Estonia and Luxembourg is relatively restricted. The mutual visits of business delegations have taken place regularly (1999, 2003, 2005), but trade between Estonia and Luxembourg is modest. Total trade turnover with Luxembourg in 2008 was 209 million EEK (13.3 million EUR). The trade balance was strongly in deficit—129.4 million EEK (8.3 million EUR). On the basis of total turnover, Luxembourg ranked as Estonia’s 49th trade partner. Estonian exports to Luxembourg in 2008 totalled 39.8 million EEK (2.5 million EUR) and imports from Luxembourg totalled 169.3 million EEK (10.8 million EUR). There was over four times as much import as export. Compared with 2007, export grew by 1.6 (58%) and import decreased by 0.8 (15%). In the ranking of export partners Luxembourg was in 64th place and among import partners it was in 42% place (0.1% of total imports). Main export articles in 2008:
Main import articles in 2008:
All economic figures originate from the Ministry of Economic Affairs and Communications InvestmentsAccording to Bank of Estonia data, as of 31 December 2008 Luxembourg had made direct investments in Estonia in the value of 3.3 billion EEK (208 million EUR). This made up 1.79% of total foreign direct investments. Luxembourg ranked 10th among direct investors. The investments were made primarily in real estate rental and business activity (57%), financial intermediation (16%), the manufacturing industry (6.5%), and the rest in wholesale and retail trade and the transportation and communication sector. As of the same date, Estonian direct investments in Luxembourg totalled 30.9 million EEK (1.9 million EUR), primarily in the real estate and financial sectors. CultureCultural relations between Estonia and Luxembourg are developing. Within the last five years, concerts have been given in Luxembourg by Villu Veski and Tiit Kalluste together with the Argentinean Pipi Piazolla, Vox Clamantis and Olav Ehala, Andres Mustonen and Ivo Sillamaa. Christmas concerts have been arranged and Aldo Järvsoo’s and Tanel Veenre’s creative works in the field of fashion demonstrated. The Luxembourgish have also had an opportunity to watch Priit Pärn’s animations and Liina Siib’s poster art works. In May 2006, Luxembourg Philharmonic Orchestra was at a concert tour in Estonia. In the autumn of 2006, there was a joint exhibition of four Estonian artists at the Castle of Bourlingster in Luxembourg (Siim-Tanel Annus, Maara Vint, Andres Tolts and Mare Vint). In February 2007, it was possible to watch”The Singing Revolution”, a documentary treating Estonia’s regaining of independence. In November, the embassy organised the concert of an international quartet made up of Belgian, French and Estonian musicians. Estonians in LuxembourgThere live about 300 Estonians in Luxembourg; the majority of them work in the EU institutions. The Luxembourgish Estonian Society (LES) arranges numerous joint events. Also a home page for the Luxemburgish Estonians has been created at www.les.lu. |
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