Economic Relations-SIS

Belgium

Economic Relations

Thursday، 29 October 2015 12:00 AM

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Belgium ranks 24th among countries with the largest Foreign Direct Investment (FDI) contributions to Egyptian economy.

The visit of H.R.H Prince Philippe at the head of commercial and businessmen delegation constituted a new era in Egyptian-Belgian relation's position as an emerging market in the that could become an investment hub for the region and the numerous business undertakings between the business communities in the two countries.

Trade flow during the period (2006-2009) Million €

Item/ Year		2007	2008	2009
EgyptianExports	397	350	550	213.8
EgyptianImports	486	564	783	732.5
TradeVolume	883	914	1333	946.3
Trade Balance	-89	-214	-233	-518.7

Top 10 Egyptian Exports to Belgium

Product	2009	% Of total in 2009
Turbojets and Other Gas Turbines	147	20.1%
Pharmaceutical Products	107	14.6%
Iron and steel and its Products	80.6	11%
Plastic	72.9	10%
Organic Chemical	61.3	8.4%
Electrical Machinery	29.4	4%
Optical	17.6	2.4%
Vehicles	15.8	1.2%
Dairy Products	13.2	1.8%
Preparation of Cereals	11.3	1.5%
Total Top Products	556	76%

Top 10 Egyptian Imports from Belgium

Product	2009	% Of total in 2009
Turbojets and Other Gas Turbines	147	20.1%
Pharmaceutical Products	107	14.6%
Iron and steel and its Products	80.6	11%
Plastic	72.9	10%
Organic Chemical	61.3	8.4%
Electrical Machinery	29.4	4%
Optical	17.6	2.4%
Vehicles	15.8	1.2%
Dairy Products	13.2	1.8%
Preparation of Cereals	11.3	1.5%
Total Top Products	556	76%

Investment

Total Investments in (29/12/2009)	L.E. 607 Million L.E. in 125 Inland Projectsand Projects in FreeZones.
Main investmentsectors	Industrial (building materials – food industry-chemicals- engineering- mineral products- pharmaceuticals – (agriculture- finance- services- constructions- tourism.
Main InvestingCompanies	El Massria for Cementproduction Accorhotels Best of for dairyproducts Shrieder for lightingequipments Ezz for flat SteelSolvay
Ranking among the investingcountries	8th among EU countries in inland investments and 5th in Free Zones.

Contractual framework

Agreement	Date of entry intoforce
Egyptian-European Association Agreement signed on 25/6/2001	6/2004 Trade provisions enteredinto force as of January 1 2004.
Protocol to theAssociation Agreement to take account of the accession of the new EU memberstates (Romania Bulgaria)	Signed on 26/11/2007
Agreement on promotionand protection of investments	Signed on 28/2/1999
Agreement on Avoidanceof double taxation	Signed on 3/1/1991
Agreement on Economic,Industrial and Technical cooperation	Signed on 11/12/1979