Belgian trade delegation closes deals in India

A Belgian trade delegation led by Princess Astrid (pictured) is in India this week, with scheduled visits to the capital New Delhi and the economic capital Mumbai.

The main focus will be on trade links, but Flemish Minister-President Kris Peeters will also take the opportunity to talk to politicians about plans to commemorate the 100th anniversary of the First World War across Flanders.

The Flemish region generated €7.8 billion in trade with India in 2012, but the minister-president is keen to develop further economic ties with the emerging economy. He sees potential for new contracts in areas such as distribution, urban development and research and development.

Peeters had barely touched down in India when news of the first handshake was announced – a deal between Zeebrugge and the Indian harbour group Adani Ports to co-operate in various areas such as the India Natie digital shipping database. Another deal was signed with ATS Logistics for a €20 million petrochemical logistics centre near Geel. Peeters is also hoping to make progress towards agreement on a major project to build two bridges in Mumbai.

A further three agreements were signed with Indian firms to construct European distribution centres in Flanders. The car parts manufacturer IM Gears and the truck parts manufacturer Autotech both confirmed that they would set up distribution centres in Bruges, close to Zeebrugge port.

The food producer Zenobia Agro announced that it would open a European distribution centre in Mechelen. “These three agreements represent an investment of more than €2 million and will generate at least 23 new jobs,” Peeters said. 

The deals signed in India confirm the importance of Zeebrugge as a distribution centre for auto parts. “The investments are further evidence of the position of Zeebrugge as a leading global automotive hub for Asian exporters,” said port CEO Joachim Coens.

On the cultural side, Peeters will attend the opening of a new exhibition in Mumbai titled Masterpieces from Antwerp, which features 17th-century paintings lent by the Royal Museum of Fine Arts in Antwerp. Yesterday, Peeters, Princess Astrid and federal foreign affairs minister Didier Reynders also attended the ceremony to commemorate the Mumbai terrorist attacks of 2008.

Nearly 140 business leaders representing 71 Flemish companies travelled to India on the trade mission. Flemish firms dominate Belgium’s trade relations with India, with 98% of Belgian exports to India generated by Flanders.