The progressive opening of national boundaries from 1985 onwards, as brought about with the creation of the 'Schengen Area', and the creation of the single market in 1993, have enabled Luxembourg to look to new possibilities.
Following the example of the steel industry, the country’s businesses and service providers have all taken advantage of the opening of borders, despite increased pressure from competition.
Today, trade with other member states represents approximately nine tenths of Luxembourg’s overall foreign trade. Successive enlargements of the European Union offer new opportunities.
The opening of borders has furthermore enabled Luxembourg to employ the cross-border labour required to ensure the country’s continued economic growth at a high level.
The introduction of the euro has acted as a catalyst for trade, especially in the Greater Region.