Spa - Circuit de Spa-Francorchamps

26.07.2024 - 28.07.2024


26.07.2024 - 28.07.2024 | Spa - Circuit de Spa-Francorchamps



Main trade partners: Germany, The Netherlands and France.


The economies of Belgium and Luxembourg have been unified since 1921, when the two governments signed a Convention of Economic Union; this is distinct from the Benelux Union (which includes The Netherlands) and the EU (Belgium being a founder member of both).

For its size, Belgium is one of the most heavily industrialised countries in Europe, but here like elsewhere, the scale of the worldwide banking crisis had a profound effect. GDP growth was negative in 2009.

Belgium still imports huge quantities of raw materials, largely to be reworked for export, and manufactured goods and machinery remain a vital part of the economy. Exports are equivalent to roughly two-thirds of gross national product.

Coal mining, previously a major industry, ceased when the last mine was closed in 1992. Nuclear power accounts for almost two-thirds of Belgium's energy consumption; the remainder is generated from imported fuel products.
There is an extensive range of meeting venues throughout the country. In 2016, Belgium occupied 18th place in the International Congress and Convention Association rankings for numbers of association meetings staged worldwide, while Brussels was 23rd most popular city for such gatherings.

Business Etiquette:

A certain degree of business formality is expected in Belgium. It is wise for business visitors to confirm meetings in writing and arrive punctually, armed with business cards and wearing a suit - with a tie for men. Companies are hierarchical, and as many managing directors do not delegate, it is advisable to go straight to the top.

On introduction, you should address colleagues with their surname, respecting any professional or academic qualifications. Language can be tricky: judge carefully whether to use Dutch or French. If you’re unsure, it’s best to speak English. Personal relationships are important, so relaxed lunch meetings help develop trust - a stage that must be reached before decisions are made. It is common for business colleagues to be invited for an apéritif, followed by dinner at a nice restaurant, although usually not at the first meeting.

Mon-Fri 0830-1730.

Business Contacts: Address: 8th Floor,c/o KBC Bank 1177 Avenue of the Americas,New York,1003