Purpose of the competition
The first “Export Award" has been awarded within the framework of the festivities of the Office du Ducroire’s 50th anniversary on the 2nd December 2011. In connection with the 4th edition of the “Export Award”, the Chamber of Commerce and the Office du Ducroire of the Grand Duchy of Luxembourg (ODL), have the honor to announce the next celebration held on the 13th June 2018.
The prize "Export Award" rewards Luxembourgish SMEs in all economic sectors that have distinguished themselves by their efforts in internationalization through their activities. This award is placed in the context of actions that the Chamber of Commerce is implementing to support SMEs. By SMEs is meant micro-, small- and medium-sized enterprises which employ less than 250 people and whose annual turnover does not exceed EUR 50 million or whose total of the annual balance sheet does not exceed EUR 43 million.
This award aims to stimulate business development and Luxembourg's economy by encouraging domestic SMEs to promote their goods and services to foreign markets. The "Export Award" will honor a company in its approach to international expansion and will allow the opportunity to enhance its reputation.
As a small country in the heart of Europe, foreign trade is an essential part of the economic life of the Grand Duchy. Most of the Luxembourg production is for export. With a dynamic and widely open economy, Luxembourg exports more than 85% of its production. Approximately 87% of these exports go to countries of the European Union.
Overall, Luxembourg has managed to establish itself as a hub for international trade, not only in the financial sector, but also in industrial activities and trade in goods and services. The country's current account is largely surplus. The annual surplus is around 10% of GDP. This performance is largely generated by the export of services.
Prizes to win
In addition to the trophy and the right to use the title "Winner of Export Award 2018" on all documents and correspondence, the three first companies listed in the “Export Award” will be granted a prize equivalent to a value of EUR 15,000 (1st price), EUR 10,000 (2nd price) and EUR 5,000 (3rd price).