{"id":41354,"date":"2026-03-24T17:24:06","date_gmt":"2026-03-24T14:24:06","guid":{"rendered":"https:\/\/ces.org.ua\/?p=41354"},"modified":"2026-04-03T11:30:08","modified_gmt":"2026-04-03T08:30:08","slug":"luxembourg","status":"publish","type":"post","link":"https:\/\/ces.org.ua\/en\/luxembourg\/","title":{"rendered":"Luxembourg"},"content":{"rendered":"\n\n
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Ukraine & Luxembourg economic dialogue<\/h2>\n <\/div>\n
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Contrary to the usual UA-EU trade pattern, UA is a net exporter of goods to LUX with a deficit \u20ac29 mln\u00a0 in 2024<\/p>\n <\/div>\n

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Number of UA refugees in LUX has been on the decline since 2023<\/p>\n <\/div>\n

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LUX exports mainly royalties and other services related to the use of intellectual property<\/p>\n <\/div>\n

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LUX primarily functions as a financial and ownership hub for Ukraine’s companies, including for round-tripping investments<\/p>\n <\/div>\n <\/div>\n \n \n

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Centre for Economic Strategy (CES), an independent Ukrainian think tank that analyzes key public policies and promotes support for reforms.<\/p>\n

With donor support, CES has launched a series of studies on trade relations between Ukraine and the European Union countries.<\/p>\n<\/div>\n <\/div>\n \n \n

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Free movements of goods and services<\/h2>\n <\/div>\n\n
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Pre-war and now, LUX mainly exports to UA industrial machinery and vehicles, and plastics<\/p>\n <\/div>\n

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UA exports to LUX mainly ferroalloy (nearly 40% of UA ferroalloy exports in 2024), as well as carbon black, plywood and railway components<\/p>\n <\/div>\n

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> 5 times<\/h4>\n

Trade in services between LUX and UA has expanded by more than 5 times between 2010 and 2024, driven by the liberalisation of trade between UA and the EU<\/p>\n <\/div>\n

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Most trade in services is concentrated in IT and intellectual property<\/p>\n <\/div>\n <\/div>\n \n \n

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Trade Balance UA-LUX 2024<\/h2>\n <\/div>\n\n \n
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Free movement of persons and capital<\/h2>\n <\/div>\n\n \n \n \n \n \n \n \n \n
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4k<\/div>\n

Ukrainians with temporary protection status, one of the largest refugee groups in LUX<\/p>\n <\/div>\n \n \n

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LUX served mainly \r\nas a holding company jurisdiction, with the ultimate beneficial owners located elsewhere. Much of the LUX FDI in Ukraine comes from Ukrainian business groups, mainly in agriculture, metallurgy, and machine building<\/p>\n <\/div>\n \n

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31%<\/div>\n

The integration of Ukrainians in LUX is difficult. Only 31% are employed, compared to the 57% EU average<\/p>\n <\/div>\n \n

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FDI in UA financial \r\nsector decreased due \r\nto the nationalisation \r\nof Sense Bank<\/p>\n <\/div>\n <\/div>\n \n \n \n \n

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LUX’s FDI stock in UA, \u20ac mln<\/h2>\n <\/div>\n\n \n
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Tighter co-operation potential<\/h2>\n <\/div>\n\n
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    LUX-UA integration policy should focus on a capital- and industry-driven strategy, where LUX serves as a financial gateway and investment platform.<\/p>\n <\/li>\n

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    Strengthening the relationship under new EU CBAM-regulations is about building compliance capacity: reliable emissions reporting, certification of embedded carbon, and predictable access to EU markets for key industrial products.<\/p>\n <\/li>\n

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    Investment dialogue should prioritise sectors where Luxembourg-linked firms are active: agrifood, logistics, chemicals, and pharmaceuticals.<\/p>\n <\/li>\n <\/ul>\n <\/div>\n \n \n

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    Interesting fact<\/h2>\n <\/div>\n
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    The NBU\u2013Clearstream link enhances UA integration into international capital markets and promotes foreign investment in UA treasury bills and bonds.<\/p>\n <\/div>\n

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    The brochure is produced\u00a0by\u00a0Centre for Economic Strategy\u00a0\u00a0with the support of the\u00a0Askold and Dir Fund\u00a0as a part of the\u00a0the Strong Civil Society of Ukraine \u2014 a Driver towards Reforms and Democracy project,\u00a0implemented by ISAR Ednannia,\u00a0funded by Norway and Sweden. The contents of this publication are the sole responsibility of\u00a0Centre for Economic Strategy\u00a0and can in no way be taken to reflect the views\u00a0the\u00a0Government of Norway, the Government of Sweden and ISAR Ednannia.<\/p>\n<\/div>\n <\/div>\n\n \n<\/div>","protected":false},"excerpt":{"rendered":"

    The NBU\u2013Clearstream link enhances UA integration into international capital markets and promotes foreign investment in UA treasury bills and bonds.<\/p>\n","protected":false},"author":18,"featured_media":41536,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"templates\/template-country-research.php","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[197,523],"tags":[660],"experts":[662],"news_type":[],"class_list":["post-41354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research-list-en","category-eurointegration-en","tag-eu-partnerships","experts-nataliia_kolesnichenko-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/41354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/comments?post=41354"}],"version-history":[{"count":9,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/41354\/revisions"}],"predecessor-version":[{"id":42012,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/posts\/41354\/revisions\/42012"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/media\/41536"}],"wp:attachment":[{"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/media?parent=41354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/categories?post=41354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/tags?post=41354"},{"taxonomy":"experts","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/experts?post=41354"},{"taxonomy":"news_type","embeddable":true,"href":"https:\/\/ces.org.ua\/en\/wp-json\/wp\/v2\/news_type?post=41354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}