“Luxembourg is the solution”

29th June 2018

Howard Rosen was speaking at one of the Governors’ seminars on the subject of “Connectivity within and beyond Asia”. There was no need, he said, for the public sector to be financing rolling stock as long as the legal conditions were right but at the moment they were not. Specifically he highlighted the growing mobility of rolling stock across borders both as part of the rail “silk routes” and beyond, where the rights of owners and operators in relation to specific rolling stock were not protected. The solution, he concluded, was Luxembourg, or more specifically the Luxembourg Rail Protocol to the Cape Town Convention which would create that legal framework and make it easier and cheaper for the private sector to finance railway equipment.