Princely Economic mission to the Republic of Korea back in Belgium

Saturday, June 17th, 2017

On Saturday, June 17th, the Princely Economic Mission headed by HRH Princess Astrid and Secretary of State for Foreign Trade Pieter De Crem landed at the airport of Zaventem, Brussels. The mission consisted of 252 participants, of which 171 businessmen and women. The best represented sectors were those of food and beverage, financial services and insurances, pharmaceutical, biotech and parapharmaceutical and agro-industry.

The first feedbacks of the mission are very positive, due to the many new contacts and contracts between Korean and Belgian companies. South Korea is Asia’s fourth largest economy and is part of the G20 as the 11th largest economy in the world. It has an open, high-tech, industrialized economy and a very high degree of urbanization. A steady growth of 2.6 to 3% per annum, a relatively rich population and a free trade agreement with the European Union are factors that make the country a very attractive export destination. This makes South Korea the 9th largest importer in the world and the 6th most important exporter. It offers numerous opportunities to our Belgian companies of which many have been discussed during the mission. Furthermore, this mission also put Belgium in the spotlight as an investment destination and a privileged gateway to the European single market.


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