Belgium boasts a unique location at the crossroads of European trade. The country has one of the most dynamic and open economies in the world. Foreign trade is the lifeblood of the Belgian economy. Exports and imports account for more than 80% of its GDP; Belgium is the 15th largest exporter of goods worldwide and the 13th largest exporter of services, and is also among the top 10 destinations for foreign direct investment in the world. With this in mind, it comes as no surprise that Belgium was again recognized in 2010 as the most globalized country in the world, for the fourth year in a row.

Business relations between Belgium and India are flourishing. Belgium is currently India’s 10th most important trading partner with total bilateral import and export that has reached USD 15 billion in 2010-2011, showing a dramatic increase of 50% as compared to fiscal year 2009-2010. Within the European Union, Belgium is India’s 2nd largest trading partner, preceded only by Germany. There are close to 150 Belgian companies formally established in India and several of the most distinguished, international Indian companies are active in Belgium. For six consecutive years, Belgium has been considered as the most suitable location for investments in logistics and distribution (Cushman & Wakefield, European distribution report). The country lies at the heart of the biggest concentration of purchasing power in the world, and is world-renowned for its logistics facilities and expertise.

The seminar showcased the advantages of using Belgium as a European hub for warehousing and distribution. The event especially targeted Indian exporters to the EU who want to streamline their operations in Europe either by setting up a distribution centre in Belgium or by partnering with local logistics players. The aim was to explore the advantages of Belgium, and its regions, as a gateway for Indian companies to doing business with Europe.

The seminar was addressed by H.E. Mr. Pierre Vaesen, Ambassador of Belgium to India; Mr Ajay Sahai, Director General & CEO,FIEO; Mr. P Ratna Rao, Immediate Past President & Vice President, BLBA. Besides senior global logistics experts from Belgiam Ports like Antwerp, Zeebrugge & Liege were also present.  A large number of senior representatives from leading SMEs and logistics companies were present.

HE Mr. Pierre Vaesen, Ambassador of the Kingdom of Belgium said “Belgium is located at the very centre of purchasing power in Europe, and acts as the access gate to Europe for Indian goods.” He invited Indian companies looking to invest in Belgium to make use of the new trade and opportunities as “the Broad-based Trade and Investment Agreement between India and the EU will be concluded by the end of this year.” Click here for the Address of Ambassador Pierre Vaesen.

In his address Mr Ajay Sahai observed that EU is an important trading partner of India and as a region EU is India’s 3rd largest trading partner in the world. India’s trade with EU grew at a CAGR of over 15% during the last decade from USD 21 bn in 2000-01 to over USD 91 bn in 2010-11. Today, EU has a share of nearly 15% in India’s total trade of USD 620 bn. Although, the growth of trade has been sluggish in comparison with India’s trade with regions like LAC, West Africa and WANA where India trade recorded a CAGR of over 30% in the last decade, but the trade consistency and rising trade volumes between India and EU brings back the confidence for a deeper trade partnership between the two in future.

Referring to the FTA between India and EU, Mr Sahai informed that over 14 rounds of discussions have already taken place since 2007 and we are very optimistic that FTA may be signed during 2012.The FTA officially known as Broad Based Trade and Investment Agreement (BTIA) could be one of the world’s largest Free Trade Agreement

Senior global logistics experts from Belgian ports including port of Antwerp, Zeebrugge & Liege gave detailed presentations on world class facilities for multi-modal transportation, warehousing and distribution. Besides success stories of Indian exporters, Interlogistics N.V and investors, PSA Zeebrugge, on warehousing and distribution services in Belgium were highlighted.

The meeting was followed by a nice networking lunch with some delicious Indian dishes!

Thank you to all the participants who made this event a success!

Below are some pictures of the event, as well as the presentations of the speakers.

Presentations of speakers.

Pictures of the Seminar