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Trips to Belgium
Business Profile
Statistics : • GDP: US$350.3 billion (2005).
• Main exports: Manufactured goods, chemicals, diamonds, metal, and food.
• Main imports: Fuel products, machinery and equipment, chemicals, pharmaceuticals and food.
• Main trade partners: Germany, The Netherlands, France and UK.
Economy : The economies of Belgium and Luxembourg have been unified since 1921, when the two governments signed a Convention of Economic Union; this is distinct from the Benelux Union (which includes The Netherlands) and the EU (Belgium being a founder member of both).
The country's traditional industries of steel, motor vehicles and textiles suffered from the recession of the 1980s. While important, these no longer play the central economic role of the past. Coal mining ceased when the last mine was closed in 1992. Nuclear power accounts for almost two-thirds of Belgium's energy consumption; the remainder is generated from imported fuel products.
Manufactured goods and machinery are the largest export sectors, with the major markets inside the EU - including France, Germany, The Netherlands and the UK. These are also Belgium's main source of imported goods. Belgium relies particularly heavily on export earnings - 70% of GDP is exported, one of the highest proportions in the world. Successive Belgian governments have been keen proponents of the process of European integration, including the introduction of a single European currency, which Belgium adopted upon its inception in 1999. In 2005, unemployment stood at the relatively high level of 8.3%, while inflation remained below 2%. Growth was somewhat ahead of the Eurozone average, at a little over 3%.
Business Etiquette : Suits should always be worn and business is conducted on a formal basis, with punctuality valued and business cards exchanged. Transactions are usually made in French or English. Office hours: Mon-Fri 0830-1730.
Commercial Information : Belgian-Luxembourg Chamber of Commerce in the UK
105 Ferriby Road, Hessle HU13 0HX, UK
Tel: 08702 461 610.
Website: www.blcc.co.uk
Belgian-American Chamber of Commerce (BACC) in the USA
c/o Fortis Bank, 153 East 53rd Street, 27th Floor, New York, NY 10022, USA
Tel: (201) 631 8065.
Website: www.belcham.org
Chambre de Commerce et d'Industrie de Bruxelles
500 avenue Louise, B-1050 Brussels, Belgium
Tel: (02) 648 5002.
Website: www.500.be
Belgian Foreign Trade Agency
Rue Montoyer 3, B-1000 Brussels, Belgium
Tel: (02) 206 3511.
Website: www.abh-ace.org
Flanders-Brussels Convention Bureau
Grasmarkt 61, 1000 Brussels, Belgium
Tel: (02) 504 0355.
Website: www.meetingpoint.be
Conferences & Conventions : There is an extensive range of meeting venues throughout the country. In 2005, Belgium occupied 23rd place in the International Congress and Convention Association rankings for numbers of association meetings staged worldwide, while Brussels was joint 17th most popular city for such gatherings, along with Madrid and Sydney.
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Inscrita en el R.M. de Madrid Tomo 15.973, F. 206, Sec. 8, Hoja M-270179 . C.I.F. B82826991 Gran Vía, 22 Dcdo. 4º Madrid, 28013 Spain.
Tel. (+34) 913 605 670 Fax: (+34) 902 196 339
Inscrita en el R.M. de Madrid Tomo 15.973, F. 206, Sec. 8, Hoja M-270179 . C.I.F. B82826991 Gran Vía, 22 Dcdo. 4º Madrid, 28013 Spain.
Tel. (+34) 913 605 670 Fax: (+34) 902 196 339