Albania-Luxembourg Chamber of Commerce: We Are Working to Bring Albanian Startups to Luxembourg and Abolish Double Taxation

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By Rudina HOXHA

Vice President of the Albania-Luxembourg Chamber of Commerce, Mrs. Besmira Uruçi tells STAR BUSINESS about the Chamber's initiatives and the issues it is supporting.

Uruçi says that currently the Albania-Luxembourg Chamber of Commerce is trying to exhibit and develop Albanian startups in the European sphere and help them in opening a company in Luxembourg and consequently the development of the Luxembourg technological ecosystem.

On the other hand, she underlines the importance of removing the double tax on goods between the two countries.

"We have also attached great importance to the relations with the Ministry of Foreign Affairs of Luxembourg and the Ministry of Foreign Affairs of Albania to promote and accelerate the signing of an agreement that had been suspended for many years, which prohibits double taxation. of goods in these two countries, ”says Uruçi for STAR BUSINESS.

What is the role of the Albania-Luxembourg Chamber of Commerce and what are some of the main initiatives that the Chamber has taken to strengthen trade in goods between our two countries?

The Albania Chamber of Commerce Luxembourg was inaugurated and started its activity on February 8, 2018. As can be seen from the time of the inauguration, we are facing a new institution, which despite the limited time available has developed many useful activities in accordance with its program. In the first phase, our task has been to connect the businesses of the Republic of Albania with the Duchy of Luxembourg. Among the first activities of the Chamber was the organization of a fair for the promotion of Albanian products in Luxembourg, the first of its kind. It was launched on the day of the inauguration of the Chamber and attracted the attention of the local public. In a second phase, our Chamber became the initiator of the presentation for the first time of the Albanian startups specialized in FINTECH / REGTECH in the market of technology and financial and banking enterprises of Luxembourg.
In a third and permanent phase, our room is focused on creating a real network of Albanian professionals in Luxembourg, who are put in
available to the Albanian population in Luxembourg and why not one day to Albania itself, enabling them to bring their experience and knowledge to the benefit of Albania's development.

What are the issues that the Chamber is supporting?

At this stage, our Chamber is currently working on bringing Albanian startups to Luxembourg. The purpose of this mission is the exposure and development of Albanian startups in the European sphere, their assistance in opening a company in Luxembourg and consequently the development of the Luxembourg technological ecosystem. We have also attached great importance to the relations with the Ministry of Foreign Affairs of Luxembourg and the Ministry of Foreign Affairs of Albania to promote and accelerate the signing of an agreement that had been suspended for many years, which prohibits double taxation. of goods in these two countries. For this, we have sent a formal written request to the Ministry of Foreign Affairs of Albania, as well as we have maintained constant contact with the representatives of the Luxembourg state, thus trying to encourage the governments of the two countries to draft a favorable trade agreements between the two countries. Double taxation of goods is a real and worthless barrier imposed on the business of both these countries.

What do you think makes the Albanian market attractive for Luxembourg and vice versa?

The question is: "With what can the industry and trade of Luxembourg be presented in the small Albanian market"? During the study we have done on this topic, it turns out that Albania has the opportunities to penetrate the Luxembourg market. It can penetrate with its agri-food products, with various minerals, with its tourist offer as well as the technological one, as we said, of startups. Today, Albania has a long list of agricultural and livestock products, mineral resources, handicraft industry, etc., with which it is present in many countries in Europe and the world. Dairy by-products, the wine processing industry, some of the most sought after minerals, various types of straw production, etc. are now emerging with dignity in European markets and we would like these goods to enter the Luxembourg market as well. On the other hand, Luxembourg is known for its financial, banking, investment and European sectors, which Europe itself needs, can be the object of their confrontation with relevant institutions in Albania, helping them to get as close as possible. very towards a community European standard.

How was 2019 for the House and what do you expect from 2020?

Among the achievements of 2019, we can mention the possibility of Albania's participation for the first time in the largest technological event in Luxembourg, ICT Spring Europe, enabling Albania's participation and promotion in the international fair LetzBiz International, the organization of orientation days professional for Albanian students in Luxembourg and beyond, etc. But to tell you the truth, I think that very ambitious projects await us, which we will one day be proud of. I think that in 2020, we should focus on bringing and exposing as many Albanian start-ups specializing in FINTECH REGTECH, Artificial Intelligence and Big Data because this is one of the most interesting sectors for Luxembourg at the moment. I think that Albania has many talents in this sector which in turn can help Luxembourg achieve its goal, to become the European capital in the field of start-ups and advanced technology. In the first phase, we can design a program of cooperation and organization of cognitive seminars. Many of the businesses can come to Luxembourg to share their experiences in this sector. And for this we will turn to the Luxembourg government to see the possibility of this cooperation. The second is the organization of a fair with medicinal products and wine. We should also introduce the mineral products of Albania. Albania is one of the richest countries in the world with chromium and on the other hand has important mineral contents such as copper and magnesium.

 

* Below you will read the English version of the article, according to the original publication in the print version of "Star Business" magazine, January 2020. 

 

 

Chamber of Commerce Albania-Luxembourg: We are working on bringing Albanian startups to Luxembourg and removing double taxes

Vice-president of the Chamber of Commerce Albania-Luxembourg, Mrs. Besmira Uruci, tells STAR BUSINESS about the Chamber's initiatives and the issues she is supporting.

Uruçi says that currently the Chamber of Commerce Albania-Luxembourg is trying to expose and develop Albanian startups in the European sphere and assist them in setting up a company in Luxembourg and consequently, developing the Luxembourg technological ecosystem.

On the other hand, she highlights the importance of removing the double tax on goods between the two countries.

"We have also attached great importance to the connections between the Ministry of Foreign Affairs of Luxembourg and the Ministry of Foreign Affairs of Albania to promote and accelerate the signing of an agreement that had been suspended for many years already, which prohibits double taxation of goods in these two countries, ”says Uruçi for STAR BUSINESS.

What is the role of the Chamber of Commerce Albania-Luxembourg and what are some of the key initiatives that the Chamber has taken to strengthen the trade of goods between these two countries?

The Chamber of Commerce Albania-Luxembourg has been inaugurated and started its activity on 8 February 2018. As it can be seen from the inauguration, we are faced with a new institution which, despite the scarce time available, has developed many useful activities in accordance with its program. In the first phase, our task has been to link the businesses of the Republic of Albania with the Duchy of Luxembourg. One of the Chamber's first activities was to organize a fair for the promotion of the Albanian products in Luxembourg, the first of its kind. It was launched on the day of the inauguration of the Chamber and attracted the attention of the domestic public. In a second phase, our Chamber initiated the first presentation of Albanian startups, specialized in FINTECH / REGTECH in the Luxembourg technology and financial and banking companies. In a third and permanent phase, our Chamber is focused on creating a true network of Albanian professionals in Luxembourg, that will be available to the Albanian population in Luxembourg as well as to Albania itself, why not, enabling them to bring their experience and knowledge to the benefit of Albania's development.What are some of the issues that the Chamber is supporting?

At this stage, our Chamber is currently working on bringing Albanian startups to Luxembourg. The purpose of this mission is to expose and develop Albanian startups in the European sphere, assist them in setting up a company in Luxembourg and, consequently, to develop the technological ecosystem in Luxembourg. We have also attached great importance to the connections between the Ministry of Foreign Affairs of Luxembourg and the Ministry of Foreign Affairs of Albania to promote and accelerate the signing of an agreement that had been suspended for many years already, which prohibits double taxation of goods in these two countries. For this, we have sent a formal written request to the Ministry of Foreign Affairs of Albania as well as have maintained continuous contact with representatives of the State of Luxembourg, thus attempting to urge the governments of the two countries to draft a favorable trade agreement between the two countries. Double taxation of goods is a real and worthless barrier to the business of both countries.

What do you think makes the Albanian market attractive for Luxembourg and vice versa?

The question is: "How can Luxembourg's industry and commerce be presented in the small Albanian market"? Our study on this topic shows that Albania has the opportunity to penetrate the Luxembourg market. It can penetrate with its agri-food products, various minerals, its tourist and technological offerings of startups. Today Albania has a long list of agricultural and livestock products, mineral resources, handicrafts etc, with which it is present in many countries of Europe and the world. Dairy by-products, the wine processing industry, some very demanding types of minerals, different types of straw production, etc. are coming out today with dignity in the European markets and we would like these goods to be introduced into the Luxembourg market as well. On the other hand, Luxembourg is known for the financial, banking, investment and European sector that Europe itself needs, and can become the object of their encounter with relevant institutions in Albania by helping them move closer to a European Community standard.

 

How was 2019 for the Chamber and what do you expect from 2020?

Among the achievements of 2019, we can mention the possibility of Albania's participation for the first time in the largest technology event in Luxembourg, ICT Spring Europe, enabling Albania's participation and promotion at LetzBiz International Fair, organization of professional orientation days for Albanian students in Luxembourg and beyond, etc. To tell you the truth, I think very ambitious projects await us, with which we will one day take pride in. I think that in 2020, we need to focus on bringing in and exposing as many Albanian startups, specialized in FINTECH REGTECH, Artificial Intelligence and Big Data as this is one of the most interesting sectors for Luxembourg at the moment. I think Albania has many talents in this sector which in turn, can help Luxembourg achieve its goal of becoming a European leader in the field of start-ups and advanced technology. In the first phase, we can design a program of collaboration and organization of cognitive seminars. Many businesses can come to Luxembourg to share their experiences in this sector. And for this, we shall turn to the Luxembourg government to see the possibility of this cooperation. The second phase is organizing a fair of medicinal and wine products. We should also introduce Albania's mineral products. Albania is one of the richest countries in the world with chromium and on the other hand, has important minerals such as copper and magnesium.

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