India-Belgium trade may go up soon: envoy.

Belgium is hopeful that the bilateral trade with India will go up soon after it declined in 2012 due to the euro zone crisis. In 2012, the trade between the two countries had dipped to 12.2 billion euros compared to 13 billion euros in 2011.

"The decline in trade is due to the contraction of Indian exports to Belgium while the exports from Belgium remained stable," said Pierre Vaesen, the ambassador of Belgium to India at an interaction session with members of Utkal Chamber of Commerce of Industry(UCCI) .

"We expect the trade will catch up again in 2013 and 2014. We hope to achieve the figure of 2011 first," he added.

Asked on the possible sectors for partnering with Odisha, the envoy said, "We are exploring the areas and gathering information (on Odisha) for possible tie ups."

Vaesen said, Indians can partner with us in logistics, infrastructure, clean technology, renewable energy sectors.

As many as 160 Belgium companies have invested in India compared to 80 Indian companies who have invested in the European country.

It may be noted, Belgium is the second European partner after Germany and tenth partner of India in the world in terms of trade relations.

He said, business visas will be issued within 24-48 hours for any business trip to Belgium. The members of UCCI urged the diplomat to provide a detailed list of traders willing for tie ups with their Indian counterparts across the sectors.


Source : smartinvestor.in