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Economic Relations Between the U.S. and Belgium

Economic Relations Between the U.S. and Belgium. June 2014. Bilateral trade. Almost 3,000 Belgian companies export to the U.S. market. Bilateral U.S.-Belgian trade in goods was worth $50 billion in 2013 (more than U.S. trade with Australia, Russia or Spain).

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Economic Relations Between the U.S. and Belgium

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  1. Economic Relations Between the U.S. and Belgium June 2014

  2. Bilateraltrade Almost 3,000 Belgian companies export to the U.S. market Bilateral U.S.-Belgian trade in goods was worth $50 billion in 2013 (more than U.S. trade with Australia, Russia or Spain) The U.S. is Belgium’s 5th export destination and 4th supplier Belgium is the 12th export destination for the U.S., similar to France and higher ranked than India Belgium is among the top 10 export destinations in about half of the U.S. states Economic Relations BE-U.S.

  3. Belgian Export Destinations (2013) • Germany • France • The Netherlands • UK • USA (about 6%) • Italy • Spain • India • China • Luxembourg Economic Relations BE-U.S.

  4. Belgian Imports (2013) • The Netherlands • Germany • France • USA (about 6%) • UK • China • Ireland • Italy • Russia • Japan Economic Relations BE-U.S.

  5. Belgian Exports to the U.S. (2013, %) Economic Relations BE-U.S.

  6. Belgian Imports from the U.S. (2013, %) Economic Relations BE-U.S.

  7. U.S. investment in Belgium Top U.S. employers in Belgium (number of employees, 2012) (2010-data AMCHAM Belgium) Manpower 13.449 Caterpillar 5.529 J&J 4.977 Ford 4.801 Pfizer 2.935 McDonald’s 2.896 Procter & Gamble 2.855 Coca Cola 2.679 Mondelez International 2.672 Hewlett-Packard 2.629 Economic Relations BE-U.S.

  8. Growing U.S. investment in Belgium Economic Relations BE-U.S.

  9. U.S. investment in Belgium by sector(2012) Economic Relations BE-U.S.

  10. U.S. investment in Belgium • 54 billion (2012) • Equal to U.S. investment in China • Higher than investments in India • 15th destination for U.S. investmentworldwide (2012) • Since 2005, the U.S has been the origin of the most foreign investment projects in Belgium. • 130,000 jobs in Belgium • About 1,000 U.S. subsidiaries in Belgium • Responsible for 19% of R&D in the privatesector Economic Relations BE-U.S.

  11. U.S. investment in Belgium • Employment: • Manufacturing: chemical / pharma and transport (automotive) • Service industries: banks, law firms, public relations, accounting, and executive search firms • In terms of value: • Finance and insurance sector, chemical manufacturing • Service industry: law firms, accounting firms, advertising agencies, and computer and management services (tripled since 2000) Economic Relations BE-U.S.

  12. Belgianinvestment in the U.S. 150,000 jobs in the U.S. (2010) 10th foreign investor in the U.S. 4 times higher than Brazil 5 times higher than China similar to Australia and Spain 300Belgiancompanies on U.S. market 30%in chemical manufacturing 20%in wholesale trade 9th foreign supporter of jobs in the U.S. $48 billion (2012) Economic Relations BE-U.S.

  13. Belgianinvestment in U.S. Economic Relations BE-U.S.

  14. Belgianinvestment in U.S. • Industries: • Petrochemicals, quality food, textiles, luxury buses, steel products, pharmaceuticals, energy production, diamond cutting tools, industrial machinery, graphic design, display systems, complex software products, … • Among top 10 foreign investors in Georgia, Ohio, Pennsylvania & South Carolina • Georgia: 76 Belgian companies, 5800 jobs • Ohio: 6600 jobs • Pennsylvania: 111 Belgian-owned companies • Wyoming: 4th largest foreign company is from Belgium • 41 of the 50 U.S. states • Concentrated in the Southeast (Georgia, Florida and the Carolinas), the Midwest and the New York-New Jersey area. Texas and California are well represented too Economic Relations BE-U.S.

  15. Belgianinvestment in U.S. Belgianproducts in the U.S.: • Buses (Vanhool) • Display systems (Barco) • Pharmaceuticals (UCB) • Website software (Drupal) • … Economic Relations BE-U.S.

  16. Belgianinvestment in U.S. Belgian investments in the U.S.: • The takeover of Anheuser Busch by Inbev • Delhaize (75% of total turnover in the U.S., with supermarket chain Food Lion) • Solvay, UCB, LMS, Barco, Bekaert. Economic Relations BE-U.S.

  17. Belgianinvestment in U.S. • Companies like Umicore, Elia (wind power), EnergyICT focus on markets in developments like recyclables, renewable energy, smart power grid technology • New BE companies in audiovisual and satellite technology: Luciad, EyeTronics, Septentrio, Xenics,.. Economic Relations BE-U.S.

  18. BE Representation in the U.S. • Embassy (economic section) • Consulates General NY, LA, ATL • Hon. Consuls • Belgian American Chamber of Commerce (BELCHAM) NY • Export & Investment offices of • FlandersInvestment & Trade (NY, Chicago, ATL, LA, San Francisco) • Wallonia Export & Investment Agency (AWEX-Wash DC, Chicago, SF, NY, LA, Houston) • Brussels Investment & Export (NY, SF) • Economic Missions Economic Relations BE-U.S.

  19. TransatlanticEconomy • The U.S. and Europe remain each other’s most important markets • 57% of all foreign investment worldwide • 58% of all global R&D • Largest and wealthiest market in the world: over 50% of world GDP • Europe is responsible for about 2/3 of foreign investment in the U.S. • Europe receives about 55% of U.S. investment abroad Economic Relations BE-U.S.

  20. TransatlanticEconomy • Texas (energy, IT) and New York (pharma) are the main trading states with Europe • Most foreigners working for U.S. companies outside the U.S. are European and vice versa • Institutional Cooperation: • U.S.-EU Summit, U.S.-EU Energy Council, U.S.-EU S&T Framework Agreement • Transatlantic Trade and Investment Partnership negotiations (TTIP) with the U.S. underway since July 2013 Economic Relations BE-U.S.

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