OUR RECENT ACTIVITIES

Meeting with the Belgian Ambassador in Lebanon

October 2011

On the occasion of her accreditation as the new Ambassador of Belgium in Lebanon, H.E. Mrs. Colette Taquet recently visited the Chamber for a meeting with Secretary General Qaisar Hijazin. The visit was part of the ongoing exchange of information and ideas on cooperation and business development between the Belgian authorities and the Chamber and provided a new opportunity to reinforce the synergies aimed at serving the economic partners of both parties.

It is important to note that Wallonia and Brussels will be the guests of honour at the Book Fair (for French publications) of Beirut between October 28 and November 6, 2011.

Meeting of the Economic Councilors of the Arab embassies at Brussels Invest & Export

September 22nd

The Chamber organized on September 22nd and in cooperation with the Permanent Mission of the League of Arab States and the Economic Commission of the Council of Arab Ambassadors in Brussels, a meeting between the Economic Councilors of the Arab embassies in Belgium and the representatives of Brussels Invest & Export and the Ministry of economy of the Brussels region. The main objective of the meeting was to establish contacts between the officials of the institution and the representatives of the Arab embassies. The meeting focuses on an exchange of views on the Belgian experience in the field of export and investment promotion, and on the assistance, facilities and incentives provided by the ministry to Belgian companies to enter foreign markets.

The Belgian officials gave a detailed presentation on the role of the institution, the organization of the internal management and its services provided to Belgian exporting companies and foreign investors.

The participants discussed cooperation, information exchange, priorities for importers and exporters and support of trade between the Brussels region and Arab countries.

Egypt and Libya in 2011

September 27th

The ABLCC, Brussels Invest & export and BECI organized on September 27th an important networking meeting on the present economic outlook for Egypt and Libya. The focus of the meeting, with the participation of the economic attachés in the respective countries, was on the economic and financial consequences of the recent developments. The Secretary General of the ABLCC particularly addressed the potential of the Libyan market.

50 times as large as Belgium, but populated only by 6 million inhabitants, Libya is the richest country in Africa and the 9th economy of the Arab world. Gross Domestic Product is about $ 75 billion and per capita income hovers around $12,000 per year.

Libya has a production capacity of 1.8 million barrels of oil, the third largest oil producer in Africa and the 14th largest producer, and with 44 billion barrels the country has one of the largest reserves in Africa. Oil accounts for up to 95% of Libyan exports and the country previously started an investment program of $30 billion to increase production to 3 million barrels per day.The country also has significant natural gas reserves of approximately 1.5 billion cubic meters, or 1% of global reserves.

After six months of hardships, it is now the time for reconstruction and development of the "New Libya". In this respect, the Paris meeting on September 1, was particularly important and an opportunity for the National Transition Committee to present a roadmap for political and economic reform.

The roadmap presented by the CNT and supported by a large majority of the international community provides for the establishment of a provisional government, a Constituent Assembly and the adoption by referendum of a constitution, followed by general elections.

In the economic field, the CNT asks the international community to liberate the Libyan assets, estimated at $100 billion at least, in order to fund the immediate needs of the population and its integration into the global economic system.

The potential of the Libyan market is estimated at over $ 200 billion and the main challenges are in the reconstruction, the transition to a market economy and economic diversification.

The reforms will most probably result in a free trade agreement and integration of the country within the partnership between the EU and Mediterranean countries. The transition to a market economy requires the development of the private sector and openness to foreign investment. These steps should help create a positive and stable business climate.

The National Transition Council will certainly implement a policy of diversification to reduce its dependence on oil. It is important to note in this regard the vast potential of the tourism sector, whose development will benefit from the proximity to the vast European market. This economic diversification is also an absolute necessity in terms of creating jobs for people. Oil will nevertheless continue to play an important role. Initially, the priority is to restore the damaged facilities and services to increase production to the level of a few months ago. In a second phase, Libya is to develop the country's vast reserves.

In terms of bilateral relations with Belgium, Libya ranked 63rd on the list of clients from Belgium in 2010 and the Belgian exports to that country amounted to 225.4 million euros against 190 million euros in 2009, an increase of 18.6%.

In terms of Belgian imports, Libya ranked in the 101st place, with total imports of 45.5 million euros in 2010, against 52.7 million the previous year, a decrease of 13.6%.

Belgian exports bound for Libya consist mainly of machinery (81.9 million euros in 2010, 36.6% of the total), mineral products (41.4 million euros - 18.4 % of the total) and chemicals with 36.7 million euros or 16.3% of total exports in 2010.

Mineral products accounted for 64.4% of Belgian imports (29.3 million) and chemicals 31.8%, or 14.5 million euros.

Unlike many countries, Libya has not only abundant supplies of raw materials but also financial resources. This is a great asset, which also explains the interest of a large number of companies in this market. The participation of Belgium in the international coalition formed around the 1973 Resolution of the Security Council should logically help our companies on the Libyan market, thereby enhancing the impact of Belgian expertise in promising niches and based upon the experience of Belgian exporters with the completion of projects in the field of construction, infrastructure and transportation, chemical and petrochemical industry, energy and water treatment, as well the areas of health care and education, offering great potential for cooperation with Libya.

Doing business with the Arab world in the light of the recent events

September 27th

The Arab-Belgium-Luxembourg Chamber of Commerce organized in cooperation with SGS Belgium on 27th September 2011 a seminar on “Doing business with the Arab countries in the light of the recent events in the Arab world” at the SGS House in Antwerp. The meeting attracted 70 participants.

H.E. Mr. Al-Hamaidi, Ambassador of Iraq, represented by Mrs Jwan Khioka, outlined the “Business and Investment opportunities in Iraq”. Iraq has the second largest proven oil reserves in the world and a large potential for investments and business in various economic sectors.

Prof Amine Ait Chaalal, Director of the Study Center for International Crises and Conflicts at the Catholic University of Louvain, made a presentation on the Arab revolutions and the impact on the relations with the European Union.

Mrs Mireille Janssens and Mr. Daan Rowies from the ONDD (Office National du Ducroire) analyzed the country risks with examples from the Arab world and the solutions of ONDD for international risks, while Mrs Katrien Leinders, Economic and Commercial Attaché in Egypt, spoke on the impact of the transition in Egypt for the business community and on the various services she provides to develop relations with Egypt.

Mr Jozef Somers, Business Unit Manager at SGS Belgium, detailed the certificates of conformity and their role in facilitating customs clearance in Saudi Arabia, Algeria, Kuwait, Spain, Iraq and Qatar. The seminar was concluded with Mr Ghassan Ejjeh, Vice Chairman of BESIX and member of the executive bureau of the ABLCC, analyzing the situation in the Arab world and the growing demand for new products and services, along with the attractiveness for foreign investments, of this ever growing market formed by 350 million consumers.

Economic Mission to the State of Kuwait

10-12 October

The ABLCC organized an economic mission to the State of Kuwait from 10 to 12 October 2011, heading a delegation of 15 representatives from various sectors of the Belgian economy, especially the health sector, the engineering, construction and metal industries, the transport sector, management, training, and the banking sector. The mission benefitted from the strong support of the Embassy of Kuwait in Brussels and the Belgian Embassy in Kuwait.

The Chamber of Commerce and Industry of Kuwait organized a comprehensive program for the Mission. The members of the delegation thus met His Excellency the Minister of Health, Dr. Hilal Al-Sayer, and Her Excellency the Minister of Trade and Industry, Dr Amani Bouresli. During the meetings, participants discussed about enhancing economic and investment cooperation between the institutions of the private sector in both countries, and examined a number of subjects to overcome the barriers and obstacles to an increase of the volume of trade and investment between both sides, particularly the activation of an investment protection agreement and avoidance of double taxation.

The Chamber of Commerce and Industry of Kuwait also organized a meeting for the members of the delegation with Kuwaiti businessmen, headed by Mrs. Wafa Al-Qatami, a member of the Board of the Kuwaiti Chamber, during which they stressed the need to further enhance the efforts aimed at increased exchanges.

These meetings allowed to the members of the delegation to identify the opportunities to contribute to the projects of the five-year plan adopted by the Kuwaiti government and representing an investment of at least 35 billion Kuwaiti dinars (105 billion dollars). A number of delegates expressed special interest in participating in development projects to be implemented in cooperation between the public and private sectors. It should be noted that a number of Belgian institutions participating in the mission also signed cooperation agreements with Kuwaiti institutions, particularly in the field of ​health care.

The Chamber invited Her Excellency the Minister of Trade and Industry and the Chamber of Commerce and Industry of Kuwait to visit Belgium with a delegation of Kuwaiti businessmen. The mission proved to be most successful and the participating businessmen expressed their deep gratification for the useful meetings made during the visit.