The Embassy of Belgium in Pakistan’s economic and commercial representation has announced the arrival in Pakistan of a 24-member trade delegation comprising 19 leading Belgian companies from the Walloon and Flanders Regions of Belgium.
Wallonia Export-Investment Agency’s Chief Executive Officer (CEO) Mrs Pascale Delcomminette is leading the trade mission.
The trade delegation will be in Karachi on 5 and 6 November, and in Lahore on 7 and 8 November.
The delegation comprises of companies dealing in various sectors such as steel, banking, baby food and chocolates, industrial ovens and furnaces, energy, LPG gas storage engineering, hospital equipment, telecommunications and IT, broadcasting equipment, building materials, biotechnology, logistics etc.
The Economic and Commercial Representation has organised an extensive business-to-business (B2B) meetings program in the cities as well as company visits and interaction with the Chambers of Commerce and Industry in Karachi and Lahore.
His Excellency the Ambassador of Belgium and the Trade Commissioner as well as Officials of both regions will also accompany the delegation. The delegation is expected to also call on high dignitaries during their stay in the two provincial capitals.
Foreign trade is a key factor in Belgium’s economic development. Although it represents only 0.2 per cent of the world’s population, it accounts for almost 2.4 per cent of world exports making it the 11th largest exporter of goods worldwide and the 13th largest exporter of services in the world.
The ratio of Belgium’s exports to GDP is a significant 85 per cent – higher than the UK, France and Germany. It is also the 14th largest importer of goods accounting for 2.2 per cent of world imports and is ranked 12th in import of services.
Belgium was recently categorized as the 3rd most globalized country in the world. GDP per capita is higher in Belgium than the European average. It is also among the top 10 destinations for foreign direct investment worldwide.
Belgium is among the top 10 in logistical efficiency. A study by the World Bank that ranks 155 countries shows the places where goods can be transported the easiest from one port to another and across borders.
Belgium is also among the top 10 destinations for foreign direct investment worldwide.
An overview of Belgian-Pakistan bilateral trade shows a steady increase every year with the balance of trade more or less equally distributed. The bilateral trade figures for 2017 show a growth with Belgian exports touching a record 520.5 million Euros and Pakistani exports also recording 421.9 million Euros.
This makes Belgium the 5th largest trading partner for Pakistan from within the 28 EU countries.
Pakistan presents a multitude of opportunities and challenges to Belgian companies to export goods and services to meet the emerging needs in terms of infrastructure, environment, energy, transport and telecommunications. Belgian companies have already proved their expertise in these niche markets.
It is expected that this visit will further consolidate the ever-increasing trade between the two countries.
Pakistan presents a multitude of opportunities and challenges to Belgian companies to export goods and services to meet the emerging needs in terms of infrastructure, environment, energy, transport and telecommunications. Belgian companies have already proved their expertise in these niche markets.
It is expected that this visit will further consolidate the ever-increasing trade between the two countries.
