EGİAD Aims to Increase Trade Volume with Belgium

EGİAD Aims to Increase Trade Volume with Belgium Aegean Young Businessmen Association (EGİAD), prioritizing the development of commercial ties with Belgium, Turkey's 17th largest trading partner, has included Belgium—the centre of the European Union (EU)—among its target markets within the Foreign Trade Ambassadors Project. An event was organized to increase trade volume between the two countries, with Belgium's economy, geographical location, developed transportation network and diverse industrial and commercial structures being discussed. The webinar meeting on "Doing Business" with Belgium, which featured Kimflor Kimya Deputy General Manager and EGİAD Board Member Assistant Treasurer Pınar Berberoğlu and Floridienne Group CFO Thibaut Hofman as guest speakers, brought young entrepreneurs together online. Belgium, ranked among Europe's most developed economies with industrial, port, canal, railway and motorway infrastructure, entered the focus of EGİAD's young business world through its textile, iron-steel, refining, food processing and production, chemical industry, pharmaceuticals, automotive, electrical-electronics and machinery manufacturing sectors. Young entrepreneurs seeking to strengthen commercial relations with a country where traditional industry accounts for 74.9 percent of gross domestic product (GDP) aim to play an important role in developing trade ties between the two nations.

"We Aim to Strengthen Business Networks by Bringing EGİAD Members Together"

EGİAD Chairman Alp Avni Yelkenbiçer delivered the opening speech of the meeting, discussing the benefits of the Foreign Trade Ambassadors programme and thanking EGİAD members serving as ambassadors. Yelkenbiçer said, "As you know, through EGİAD's Foreign Trade Ambassadors project, we aim to strengthen business networks by bringing together members who wish to establish companies abroad or engage in direct export with EGİAD members who already have expertise in this area and possess foreign investments. In this regard, I once again thank our valuable foreign trade ambassadors for accepting this responsibility to guide our members. Our Foreign Trade Ambassadors play a guiding role for our members who wish to do business in those countries, develop their trade or make investments by sharing their experience and knowledge about those countries. The positive feedback we receive from our members makes us very happy in this regard."

"We Will Work to Increase Trade Volume Between the Two Countries"

Noting that Turkey ranks 17th among Belgium's trading partners, Yelkenbiçer said, "We aim to play an important role in developing commercial ties between the two countries. Although Belgium is among countries dependent on world trade, as one of the founding states of the European community, it conducts three-quarters of its exports with other EU countries and supports the integration of EU economies with each other. In 2019, Turkey exported USD 3.4 billion to Belgium while importing USD 3.2 billion from Belgium. Our bilateral trade volume exceeded USD 6.6 billion in 2019. Belgium, the world's 25th largest economy, has a strategic advantage due to its location in the centre of Western Europe and its multicultural structure. Belgium ranks 46th in the World Bank's 'Ease of Doing Business' index. In 2019, our trade volume with Belgium was recorded as USD 6 billion 413 million. In 2019, Belgium was the 15th country to which we exported the most and also the 15th country from which we imported the most. Between 2002 and 2018, the total direct investments made from our country to Belgium amounted to USD 335 million. In 2019, 557,435 Belgian tourists visited our country. We will work to increase trade volume between the two countries," he said. Pınar Berberoğlu, Deputy General Manager of Kimflor Kimya and Assistant Treasurer of EGİAD Board of Directors, delivered a detailed presentation on the country's social, economic, education and digital structure. Stating that Belgium, with a high-income economy, has a GDP of USD 557.1 billion and per capita GDP of USD 48,200, Berberoğlu said, "In its industries, engineering and metal products, motor vehicle assembly, transport equipment, scientific instruments and chemical activities hold an important place. Export volume is USD 414.8 billion. Imports stand at USD 412.9 billion," while Floridienne Group CFO Thibaut Hofman noted that Belgium's import and export volumes are very high, adding, "The tax regime is very attractive. The level in terms of workforce is quite high. Labour costs are very competitive when compared with Western European countries. Incentives and tax rates are also advantageous."