Marc Solvi, CEO of the Paul Wurth engineering company, made his remarks during Friday's inauguration of the Taiwan Luxembourg Joint Business Council, which he co-chairs with local business leader Theodore Huang.

"Taiwan has proven to the world not only that it has fabricated...high quality products but also shown...that it is a leader in democracy, and this is very important for business and free trade," he said.

The idea behind the council is to have business delegations from Luxembourg and Taiwan meet regularly to set up a "consolidated structure between the economic worlds of both countries," explained Solvi.

A delegation from Luxembourg visited Taiwan last week to kick off the meetings, and a Taiwanese delegation will return the gesture in September, according to Huang, who heads the Chinese National Association of Industry and Commerce (CNAIC).

Addressing the audience of 300 local representatives of the economic world who attended the inauguration, Solvi delivered a message on "friendship, cooperation and business development" on behalf of the thirty-member delegation from Luxembourg.

"The goal is to make Luxembourg the gateway for Taiwan into Europe, and Taiwan the gateway for Luxembourg into Asia," explained Huang.

Pierre Gramegna, director general of the Chamber of Commerce of the Grand Duchy of Luxembourg, agreed with Huang, adding that "the financial center of Luxembourg can be very attractive to Taiwanese companies not only in the investment of funds but also to structure business in Europe."

But although the two countries have established a close relation in the past, Solvi points out that "a lot remains to be done, and a lot of opportunities are existent."

Among these opportunities, he said, "There is a culture of business here which is very well-developed (with) fast, quick people.. who bring solutions to problems," much like in his native Luxembourg.

"We are both very pragmatic. We have proven that we are more efficient than larger countries... because our systems are flexible and work hard to solve complex problems," he added as an example of Taiwan and Luxembourg's similarities.

Luxembourg is a small country with a population of about 400,000, but very international nevertheless, with some 40 different nationalities being represented, according to Solvi, who himself is of Italian descent.

Paul Wurth has a 15-year history in southern Kaohsiung, where some 45 to 50 people operate the Taiwan headquarters, according to Solvi, who has visited Taiwan some 50 times in the past 20 years.

To show his commitment to strengthening economic ties between the two nations and his confidence in the Asian country, Solvi explained, "We not only do business in Taiwan, but from Taiwan outside to the world."

Established in 1870 and headquartered in Luxembourg, Paul Wurth is a leader in the iron and steel industry with about 1,200 employees in 20 subsidiaries and affiliated companies worldwide.