Public Export Incentives 2007

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Information about Public Export Incentives 2007

Published on March 21, 2008

Author: Silvia


Public Export Incentives::  Public Export Incentives: Fostering the Internationalisation of Luxembourg companies Why foster exports?:  Why foster exports? Limited national market Traditional focus on a few key markets : Benelux Euro Area European Single Market Vulnerability to external shocks : exporters need to diversify! Slide3:  Growth abroad creates jobs at home! How does the Government promote foreign trade?:  How does the Government promote foreign trade? Incentives to do more : not subsidies for past efforts! Practical help & financial encouragement Administered mainly through: Ministry of the Economy & Foreign Trade Office du Ducroire / COPEL Before exporting::  Before exporting: Is it the right market for my product? Market Study (COPEL) I don’t know how to sell in this market! Training courses, language classes (COPEL) Nobody in this market knows my product! Marketing material (COPEL) Where do I find potential buyers? Trade missions & pavilions at Trade Fairs (Ministry of the Economy) Own presence at Trade Fairs (COPEL) I want to follow up on my leads! Advice (& office space in Shanghai & Seoul) provided by Luxembourg Trade & Investment Offices (Ministry of the Economy) I will close a deal!:  I will close a deal! Have your contracts/MoU’s checked! A first deal in an unknown market can be hazardous. If available, get the opinion of our Trade & Investment Offices! Professional legal & fiscal expertise can be supported (COPEL) Get export insurance! (Office du Ducroire) Covers commercial & political risk Can cover local investment Gives professional advice on customers credit-worthiness Let the authorities know! (Ministry of the Economy) Involvement of official representatives (Embassy, Trade & Investment Office) scares unreliable partners away. Trade Missions & participations at Trade Fairs::  Trade Missions & participations at Trade Fairs: Organised by the Ministry of the Economy & Foreign Trade, often in collaboration with the Chamber of Commerce. Open to all Luxembourg-based companies with good reputation. Restrictions apply concerning Trade Fairs. Provides visibility, official framework, contacts with other Luxembourg companies interested in the same market. Matchmaking services generally available. Travel costs to be borne by participants! Financial incentives::  Financial incentives: General conditions: Goods or services must be of Luxembourg origin. Company must be in conformity with Luxembourg laws & regulations. Respect of EU rules. Maximum intervention of 50% of costs incurred. Application must be made BEFORE the project is launched! Project must be executed by a THIRD PARTY! Total amount of support received cannot exceed 200.000 Euros per company per three-year period. Eligible companies: Companies from all sectors of activity presenting sufficient guarantees of viability, with the exception of the agricultural sector. Examples of incentives::  Examples of incentives: Market studies: Up to 50% of costs incurred for market analyses provided by a specialist company. These consultancy costs can also include expertise on legal & fiscal aspects linked to the launch of a new product or service, or to the launch of an existing product on a new market. Design and Translation of marketing supports: Design of marketing supports (brochures, flyers, websites) Translation of existing supports for new markets. Printing costs of brochures or flyers are NOT covered. Design of export-oriented websites is subject only of a single financial contribution limited to 50% of costs and not exceeding a total of 10000 Euros. Examples of incentives::  Examples of incentives: Participation at trade fairs and conferences abroad : 50% maximum of rent for exhibition space with a limit of 20.000€/year per company (25% with maximum of 10.000€ from the fourth participation). 50% maximum of expenses linked to participation, notably for stall design or construction charges, with a limit of 20.000€/year per company (25% with maximum of 10.000€ from the fourth participation). 50% of registration fees may be granted to Luxembourg companies taking part in seminars or conferences with a direct and irrefutable link to the promotion of foreign trade. Export training: Up to 50% of registration fees for courses with a direct link to a foreign trade activity (foreign business culture, languages, etc.). Examples of incentives::  Examples of incentives: Advertising costs: Up to 20% of incurred expenses for advertising in guides, magazines, catalogues, CD-Roms and websites of a professional and international nature. How to submit an application: :  How to submit an application: Application forms (in French, English and German) can be downloaded at: For first-time applicants we demand some financial information (company statutes, business licence and balance sheets of the last two years) about the company in order to verify its viability. The committee meets at least once a month which means that, in general, decisions are taken within two weeks and the applicant is notified. Timeline::  Timeline: Project Cost estimate Application to COPEL COPEL takes a positive decision Promise of up to 50% intervention Project realised Payment Refund of 50% Max. 4 weeks Max. 1 week Validity of 6 months 1 week Special procedures apply to industrial companies & trade fairs covered by the Ministry of the Economy Useful addresses::  Useful addresses: Ministry of the Economy & Foreign Trade Directorate of Foreign Trade Jean-Claude Knebeler (Director) Tel. : +352-478-4178 Fax : +352-22 34 85 Email : André Hansen (Trade Fairs) Tel. : +352-478-4131 Fax : +352-22 34 85 Email : Office du Ducroire Simone Joachim (Secretary General) Tel. : +352-423939-342 Email : Useful addresses::  Useful addresses: Luxembourg Trade & Investment Offices: Delhi (India) Mr Alok Bhardwaj Dubai (United Arab Emirates) Mr. Albert Pansin New York (USA) Mr Georges Faber San Francisco (USA) Mr. Robert Biwer Seoul (South Korea) Ms Younhee Kim Shanghai (P.R. China) Mr Pierre Ferring Tokyo (Japan) Ms Yuriko Matsuno Special mention shall be made of the network of Luxembourg Embassies, Honorary Consuls and Foreign Trade Counsellors abroad. The relevant lists can be found on the website of the Ministry of Foreign Affairs : The network of Belgian trade attachés (Walloon, Flemish or depending from Bruxelles-Capitale) is also at the service of Luxembourg companies. Further information on this can be obtained from the Chamber of Commerce.

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