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India, Belgium, and Luxembourg reviewed their bilateral trade and investment partnerships and agreed to explore new avenues for collaboration across aerospace, research, innovation, and higher education during the 19th Session of the IndiaBelgiumLuxembourg Economic Union (BLEU) Joint Economic Commission held in Luxembourg on October 29.
According to the Ministry of Commerce & Industry, the ministerial gathering served as an institutional platform for the three partners to assess existing commercial links and deliberate on measures to facilitate two-way capital flows. The session focused on identifying specific strategic areas to reinforce broader bilateral economic engagement. Commerce Secretary Rajesh Agrawal led the Indian delegation at the proceedings. The session was co-chaired alongside Filip Vanden Bulcke, Director-General for Geo-Economy and Economic Diplomacy at the Belgian Federal Public Service Foreign Affairs, Foreign Trade and Development Cooperation, and Henri Schumacher, Secretary General of the Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade of Luxembourg. The bilateral discussions covered a diverse group of key sectors, placing emphasis on logistics with specific focus on ports and air connectivity, renewable energy, and clean technology. The delegations also held detailed talks on financial services, financial technology, digital transformation, information and communication technology, healthcare, life sciences, Ayurveda, traditional medicine, and the agro and food processing industry. The participating officials evaluated market-related issues during the session. The dialogue aimed at addressing existing trade concerns, facilitating bilateral market access, and identifying clear opportunities to bolster commercial ties among the member nations. Beyond the baseline sectoral review, the delegations focused on institutional expansion. The session formally concluded with an understanding to examine deeper cooperation in aerospace development, scientific research, innovation ecosystems, and higher education along with technical skill development. The three delegations used the forum to exchange assessments on national economic priorities and evaluate ongoing sectoral cooperation. The delegates noted that continuous bilateral dialogue remains central to securing mutually beneficial trade partnerships among India, Belgium, and Luxembourg. Following the conclusion of the commission proceedings, Commerce Secretary Rajesh Agrawal attended a targeted business interaction with chief executive officers of Luxembourg-based enterprises. During the industry exchange, the Commerce Secretary highlighted the sustained momentum of the domestic economy and outlined the expanding investment potential across multiple industrial segments. He specifically underscored commercial prospects in advanced manufacturing, financial services, logistics networks, clean energy initiatives, digital platforms, healthcare delivery, and collaborative research frameworks. The Commerce Secretary urged Luxembourg-based corporations to consider long-term capital investments and direct technology partnerships with domestic enterprises, noting the potential to integrate operations with Indian firms to cater to global supply and value chains. (ANI)
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