Foreign trade - bilateral
(1) Allocation of tasks
The special law of 13 July 2001 enabled the Regions to pursue their own policy on outlets and export.
Following organisational difficulties early on, these structures are now operating satisfactorily.
This regional approach to encouraging trade has made export funding more readily available to individual companies, and regional agencies promoting trade have reported considerable success since it was introduced.
Bilateral relations have long been the cornerstone of Belgium's foreign economic policy.
In light of the ever-changing national and international context, it is important to position bilateral economic relations as strategically as possible. Under its policy, the Belgian government considers certain countries and/or regions as priority countries/regions for strengthening relations and economic networks, in partnership with the Regions and FPS Foreign Affairs, Foreign Trade and Development Cooperation. These priority countries and/or regions offer excellent prospects for the Belgian economy in terms of trade flow and investment.
(2) Agency for Foreign Trade
The Agency for Foreign Trade, which superseded the Belgian Foreign Trade Office (OBCE/BDBH), has been up and running since March 2003.
The government will be supporting its expansion through close cooperation with the Regions. The government will continue the process of legally winding up the Belgian Foreign Trade Office.
The Agency for Foreign Trade is responsible for:
- deciding on and organising joint trade missions at the initiative of one or more Regions or at the request of the federal authorities;
- organising, compiling and disseminating information, studies and documentation on foreign markets for regional services responsible for foreign trade;
- tasks of common interest decided unanimously by the Board of Directors.
Under the terms of the Cooperation Agreement establishing it, the agency is defined as a 'service centre' for regional institutions promoting foreign trade, and it serves these institutions directly. If they are the 'end-users', exporters do not have access to the agency's databases and must approach the authorities in the Region where they are based (Article 5 of the Cooperation Agreement).
For regional institutions, the agency is first and foremost a 'dispatching tool' based on its SID (selective information distribution) computer system, which selectively transmits information to companies rapidly (business proposals, contract notices, project data, information on regulations etc.).
(3) Royal missions
One of the instruments most widely recognised and highly esteemed by companies is the organisation of economic missions led by Prince Philippe and run by the federal minister responsible for foreign trade. The government will continue to support these activities.
(4) Finexpo
Finexpo is the federal authority providing financial assistance to Belgian exports.
Preparations for and implementation of action to provide financial assistance to Belgian export are the responsibility of the secretariat of the Interministerial Committee providing financial assistance to Belgian export, otherwise known as Finexpo.
The Finexpo Committee aims, through its notices, to provide financial assistance to exporters wishing to launch Belgian projects in the field of infrastructure and the associated services.
To this end, Finexpo has three instruments: mechanisms to stabilise interest rates (a purely commercial instrument), state-to-state loans and interest credits (instruments granting concessional assistance and subject to OECD regulations on export credits).
Over the past few years, initiatives have been launched to simplify procedures and, where possible, to make them more flexible, particularly for the benefit of SMEs, which Finexpo wants to help gain better access to markets further afield.
In order to resolve certain practical difficulties encountered by Belgian exporters in developing countries, Finexpo has introduced a new assistance instrument known as an interest credit plus contribution for developing countries. This instrument will be launched in the near future.
(5) National Delcredere Office (OND/NDD)
The federal government also provides guarantees against export, import and investment risks.
Globalisation is forcing Belgian companies to adapt permanently in order to gain the greatest possible benefit from the opportunities afforded by foreign markets.
This means that an export-oriented country such as Belgium needs a solid and efficient institution that can provide guarantees for exports to and investment in OECD countries.
The Belgian business world seems to be very satisfied with the National Delcredere Office and the way in which it operates, but we are currently looking into how it can be made even more efficient.
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