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Flanders & China in numbers

belgium_as_gateway
From left to right : Mr Bert De Graeve, Chairman, Flanders-China Chamber of Commerce (FCCC), CEO Bekaert, Vice-Premier Li Keqiang (now Premier), Premier Di Rupo, Mr Christian Reinaudo, CEO, Agfa-Gevaert, Mr Eric Versele, CEO, Barco.

China is looking to deepen its relationship with Belgium, acknowledging the country as the perfect gateway into Europe. As is clearly illustrated by the following numbers, Flanders as a region, already is a solid business partner of China.

Belgium to China

In 2011, exports from Belgium to the People’s Republic of China reached EUR 7.365 bn, a growth of 35.70% compared to last year. Exports from Flanders to the People’s Republic of China reached EUR 6.743 bn, a growth of 37% compared to last year. This means that 92% of total exports from Belgium to China, originate from the Flanders region.

For the first 10 months of 2012, exports from Belgium to the People’s Republic of China reached EUR 6.329 bn, a growth of 4% compared to 2011. Exports from Flanders to the People’s Republic of China reached EUR 5.859 bn, a growth of 5% compared to 2011. China is Flanders’ 8th export destination.

Main products were:

  • chemicals and pharmaceuticals
  • transportation materials (a growth of 262%)
  • machinery, electrical equipment
  • base metals
  • pearls, gems, precious metals, diamonds

China to Belgium

In 2011, imports from the People’s Republic of China to Belgium reached EUR 14.480 bn, a growth of 14.40% compared to last year. Imports from the People’s Republic of China to Flanders reached EUR 12.718 bn, a growth of 14% compared to last year. This means that 88% of total imports are from the Flanders region.

For the first 10 months of 2012, imports from the People’s Republic of China to Belgium reached EUR 11.483 bn, a decline of 7.6 % compared to last year. Imports from the People’s Republic of China to Flanders reached EUR 10.115 bn, a decline of 7% compared to last year. This means that 88% of total imports are from the Flanders region.

Main imports were:

  • machinery, equipment and electrical apparatus
  • textiles
  • base metals
  • diverse goods and products (furniture and toys)

China-Belgium mirror fund

In order to help Chinese companies boost investments in Belgium and the European Union, The China-Belgium Mirror Fund was launched. This fund is a mutual effort of China Investment Corporation and Belgium’s Federal Holding and Investment Company. It is the first mirror fund that China set up in the eurozone, thus confirming Belgium’s role as China’s gateway into Europe.

In 2012, Vice-Premier of China Li Keqiang (now Premier) and Belgian Prime Minister Elio Di Rupo discussed new opportunities and initiatives. The Vice-Premier expressed his hopes to the Belgian Prime Minister, of Belgium becoming a long-term partner of China. In his response, Prime Minister Di Rupo said that he was willing to strengthen links with China, and to support collaboration and coordination with China in global affairs.

From left to right: Mr Bert De Graeve, Chairman, Flanders-China Chamber of Commerce (FCCC), CEO Bekaert, Vice-Premier Li Keqiang (now Premier), Premier Di Rupo, Mr Christian Reinaudo, CEO, Agfa-Gevaert, Mr Eric Versele, CEO, Barco.