Qu Xing, China’s Ambassador to Belgium, discusses the growing trade and investment ties between the two countries. He also highlights the potential for new cooperation between China and Belgium in the future.
European Times: Can you describe the relationship between China and Belgium?
Qu Xing: In 2016, China and Belgium will celebrate 45 years of diplomatic relations. The two countries are closer than ever before and have signed dozens of bilateral partnership agreements in such fields as aerospace, customs, science and technology, nuclear fuel and education. During Premier Li Kequiang’s recent visit to Belgium, 12 bilateral agreements were signed totalling around $20 billion. In addition, trade between China and Belgium has grown by 16.4% over the past 10 years and reached $27.3 billion in 2014, when bilateral trade grew by 7.3% over the year. Belgium is now China’s seventh-biggest EU trade partner. China and Belgium are both multi-cultural societies which are open, tolerant, creative and inclusive, and both countries excel in manufacturing.
European Times: What about bilateral investment?
Qu Xing: Belgium was one of the first western countries to supply funds and technologies to China, and Belgian companies are playing a key role in China’s development. Xi’an Janssen Pharmaceutical is one of the top 10 joint ventures in China, Umicore has an important share of China’s automotive-catalyst market, Bekaert has invested around €1 billion in China, and Solvay Chemicals has 17 production facilities in China, to name a few examples. In addition, more and more Chinese companies are investing in Belgium. For Chinese companies, Belgium offers many advantages. It is at the centre of Europe, with 60% of EU purchasing power within a 500-km radius. It also has a highly qualified workforce, advanced logistics and a favourable investment environment.
European Times: Do you expect bilateral investment to continue to increase?
Qu Xing: Definitely. China’s “Go Global” and “Made in China 2025” strategies are enhancing opportunities for partnerships, including trilateral cooperation involving China, Belgium and developing countries. The project between Sinochem Group and Belgium’s SIAT to produce rubber and palm oil in Africa is one example. In addition, China’s current focus on innovation-driven development is creating more possibilities for cooperation in cutting-edge fields in which Belgium has a competitive edge, like biomedicine and environmental technologies. As China’s economy continues to grow, Belgium, with its tradition of openness and cooperation, will attract more Chinese investors.
