New Delhi, 30 October (H.S.): India, Belgium and Luxembourg have reviewed their trade and investment partnerships and agreed to explore new avenues of cooperation in aerospace, research, innovation and higher education, signalling a renewed push to strengthen economic engagement among the three countries.

The 19th session of the India-Belgium-Luxembourg Economic Union (BLEU) Joint Economic Commission (JEC) was held in Luxembourg on October 29. The meeting provided a platform for the three countries to assess their existing trade and investment relations and deliberate on opportunities to expand economic cooperation across key sectors.

The session was co-chaired by India's Commerce Secretary Rajesh Agrawal; Filip Vanden Bulcke, Director-General for Geo-Economy and Economic Diplomacy at Belgium's Federal Public Service for Foreign Affairs, Foreign Trade and Development Cooperation; and Henri Schumacher, Secretary-General of Luxembourg's Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade.

According to the Ministry of Commerce and Industry, the discussions centred on reviewing existing trade and investment ties, identifying ways to expand economic engagement, facilitating trade and investment flows, and strengthening cooperation in areas of mutual interest. The three sides also agreed to explore opportunities for deeper collaboration in aerospace, research and innovation, higher education and skill development.

Market-related issues also featured prominently in the deliberations, with the participants discussing ways to address trade concerns, facilitate market access and identify further opportunities to reinforce economic relations.

The ministry said the JEC session enabled the three countries to exchange perspectives on their respective economic priorities, assess cooperation across various sectors and identify fresh opportunities to promote business engagement and investment partnerships. The discussions also reaffirmed the importance of sustained dialogue and cooperation in advancing mutually beneficial economic relations among India, Belgium and Luxembourg.

Following the JEC session, Commerce Secretary Rajesh Agrawal held a business interaction with chief executive officers of Luxembourg-based companies. He highlighted India's robust economic growth and considerable investment potential, while outlining opportunities for collaboration in financial services, advanced manufacturing, logistics, clean energy, digital technologies, healthcare, research and innovation.

Agrawal encouraged Luxembourg-based companies to explore long-term investment opportunities, technology partnerships and closer integration with Indian businesses to strengthen their participation in global value chains.

The interaction also featured extensive discussions on several priority sectors, including logistics, particularly air connectivity and ports; renewable energy and clean technologies; financial services and financial technology; digital transformation and information and communication technology (ICT); healthcare and life sciences; Ayurveda and traditional medicine; and agriculture and food processing.

The meeting underscored the shared interest of India, Belgium and Luxembourg in expanding commercial engagement, strengthening investment partnerships and identifying emerging areas of cooperation to support their long-term economic relationship.

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Hindusthan Samachar / Jun Sarkar