Étienne Schneider at the meeting of the OECD Council

On 30 May 2013, the Minister of Economy and Foreign Trade, Étienne Schneider, attended the meeting of the Council of the OECD in Paris.
In his speech, the Minister showed that besides the challenges it confronts us, the phenomenon of globalization is a source of long-term capital gain for growth and development of economic and social stability.
In times of crisis, many governments tend to pursue a policy of austerity. But we must also continue to invest. Thus, the minister stressed the investment efforts of the Luxembourg State, particularly in networks with high speed internet as well as the high level of business support for innovation and research.
The minister also mentioned the issue of relocation of companies. Within the European Union, it is mainly the industrial sector that suffers. In this sense, Stephen Schneider reiterated that it is essential to continue to build on skills development, intellectual capital and technology of high-tech manufacturing.