• GDP: US$316.9 billion (2003).
• Main exports: Manufactured goods chemicals, diamonds, metals and metal products, foodstuffs and machinery.
• Main imports: Fuel products, machinery and equipment, chemicals, pharmaceuticals, foodstuffs, and transportation equipment.
• Main trade partners: Germany, The Netherlands, France and UK.

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 per cent 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. The Verhofstadt Government has managed to reduce Belgium’s high unemployment level to around 7 per cent, while keeping inflation below 2 per cent. Growth is sluggish at present, at just over 1 per cent.

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.

There is an extensive range of meeting venues throughout the country. In 1994, Belgium was the seventh most popular conference destination, whilst Brussels was the third most popular city.

Belgian-Luxembourg Chamber of Commerce in Great Britain
Riverside House, 27-29 Vauxhall Grove, London SW8 1SY, UK
Tel: (0870) 246 1610.
Website: www.blcc.co.uk

Chambre de Commerce et d’Industrie de Bruxelles
500 avenue Louise, B-1050 Brussels, Belgium
Tel: (2) 648 5002.
Website: www.500.be

Voka - Chamber of Commerce Antwerp-Waasland
Markgravestraat 12, B-2000 Antwerp, Belgium
Tel: (3) 232 2219.
Website: www.kvkaw.voka.be

Belgian Foreign Trade
Rue Montoyer 3, B-1000 Brussels, Belgium
Tel: (2) 206 3511.
Website: www.abh-ace.org

The Flanders Foreign Investment Office (FFIO) - Headquarters
Gaucheretstraat 90, B-1030 Brussels, Belgium
Tel: (2) 504 8871.
Website: www.ffio.com

Flanders-Brussels Convention Bureau
Grasmarkt 61, 1000 Brussels, Belgium
Tel: (2) 504 0355.
Website: www.meetingpoint.be