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NEWS & PUBLICATIONSBelgium Today February 2011US-BELGIUM ECONOMIC LINKS CELEBRATED IN DAVOS The 2011 Annual Meeting of the World Economic Forum in Davos, Switzerland, was once again an opportunity to celebrate the deep economic relations between the United States and Belgium. On January 28, for instance, hours before their bilateral meeting with Treasury Secretary Timothy Geithner, Prime Minister Yves Leterme and Minister of Foreign Affairs Steven Vanackere hosted numerous presidents, CEOs and other high level representatives of US corporations at the Steigenberger Belvedere Hotel. The occasion was the annual Belgian Lunch Experience, put together this year by Chef Franky Vanderhaeghe, whose Belgian restaurant was awarded two Michelin stars. The prestigious event was attended by top executives of some of the world’s largest and most respected corporations, chambers of commerce, labor organizations and NGOs present. While US Chamber of Commerce President and CEO Thomas Donohue conversed with HRH Prince Philippe (who made him a Commander in the Order of the Belgian Crown in 2008), other US business leaders were sitting at tables presided over by Prime Minister Leterme, President Van Rompuy, Minister-Presidents Rudy Demotte (Wallonia) and Kris Peeters (Flanders), EU Trade Commissioner Karel De Gucht and Minister of Economy Vincent Van Quickenborne. Minister Vanackere’s table was distinctively American, with representatives of global bio/pharma giants Eli Lilly and Company, Pfizer Inc., Monsanto and Genzyme Corporation seated around Belgium’s top diplomat. Genzyme’s presence was especially appropriate, as the company had recently decided on a new 250 million euro investment in Belgium, turning the Geel factory into its largest outside the US, and adding 150 to its Belgian workforce. And this welcome development arrived just after the announcement of a substantial increase in FDI (foreign direct investment) in Belgium in 2010 (+50% to 50 billion dollars) which, along with good export performances, helped Belgium’s current account balance grow to 1.2% of GDP for the year. A few explanations for Belgium faring better than the rest of the Europe are to be found in tables published just before Davos. Ernst & Young, for example, places Belgium in sixth position of its Globalization Index, ‘Winning in a Polycentric World.” At the same time, The Conference Board puts Belgium in 5th position of its global productivity rating. Some of Belgium’s other chart-topping economic achievements can be found in the Davos-issued brochure “Best of Belgium.” Speech of Yves Leterme at the Belgian lunch of the World Economic Forum in Davos: www.yvesleterme.be. Speech Vice-Premier and Foreign Minister Steven Vanackere: www.stevenvanackere.be STRONG ECONOMY ALLOWS FOR HIGHER REDUCTION OF DEFICIT A recent study of the Belgian Federal Planning Bureau predicts economic growth for 2011 of around 2%, which shows that the Belgian economy has left the economic and financial crisis behind. There are several reasons for the Belgian economy’s rebound. First of all, along with Germany, Belgian exports have risen remarkably over a short period of time. Consumers are fast regaining their confidence and returning spending to their (healthy) pre-crisis levels, mostly thanks to the so-called “automatic stabilizers.” The policy allowing for temporary unemployment has especially enabled companies to keep workers on the payroll instead of having to resort to massive lay-offs. At the same time, companies that did have to restructure their organizations are hiring again. Recently the number of people being hired exceeds the number of lay-offs. Finally, demographics also lend a helping hand. The rapid population growth adds to consumer spending, and also stimulates the housing sector. This positive message on the Belgian economy is echoed by a recent EU report published by the European Commissioner for Employment, Social Affairs and Inclusion. According to Mr. László Andor’s report, the Belgian labor market has successfully weathered the crisis, and a major contributing factor has been its flexibility. Together with Germany and Austria, Belgium is one of the countries that are best positioned to launch the phase of economic recovery. Andor lauded the capacity of these three countries to anticipate and for consulting with labor and management representatives. Belgium ended 2010 with a budget deficit of 4.6%, one of the only EU countries to do better than required by the European stability program. In 2011 Belgium will again try to do better than requested by the EU, and will expect to close the budget deficit under 4%. In his speech in Davos, Prime Minister Leterme stressed that this figure “places the Belgian budget deficit among the six lowest in the euro area, performing better than countries like France, Italy and the Netherlands,” and that in 2010, Belgium had the smallest debt increase of the euro area (only 1%) and that our debt ratio could stabilize in 2011. Belgium central bank’s January economic indicators for Belgium: www.nbb.be BELGIAN-SPONSORED COURSE AT IMF DEEMED A SUCCESS Every year, Belgium makes available approximately a half million euros to the International Monetary Fund’s training department for the organization of macroeconomic courses for junior government officials from low- and middle-income countries. Belgium believes that this training ultimately leads to better policies for creating an environment conducive to a more equitable economic growth. At the end of 2010, Ambassador Jan Matthysen attended the closing session of this year’s distance learning course on Financial Programming and Policies at the IMF. This particular course was successfully completed by 41 participants from 17 French-speaking sub-Saharan countries. To maximize complementarity with its aid efforts in Africa, priority was given to participants from Belgium’s partner countries. Hence 18 candidates were selected from Benin, Burundi, DRC, Benin, Senegal and Morocco. Given that the participants were drawn from the staffs of central banks and various ministries involved in macroeconomic policy formulation, Ambassador Matthysen stressed the value and necessity of future networking among the participants throughout their careers. Course participants showed their appreciation for the course –and its organizer and sponsor– by awarding it a score of 4.7 out of 5 in an ex-post evaluation. From now on, any Belgian over the age of twelve who registers at the Embassy or at a Consulate will have to apply for an electronic identity card. The new eID will replace the traditional ID and will be issued to all Belgians once their current identity cards have expired. The identity card is an official Belgian document that 1) indicates the identity and Belgian nationality of the holder and 2) confirms the holder’s registration in the communal (in Belgium) or consular (abroad) population registry. The eID remains valid when a Belgian living abroad returns to Belgium. About 50 countries – mainly in Europe – recognize this identity card as a valid travel document and it may be used in those countries instead of a passport. In the United States, however, Belgians are required to have a passport. Practical information on how to apply for the eID is posted, in Dutch and in French, on the Embassy’s Web site: www.diplobel.us (Click on Belgian Citizens, Registration, and Identity Card). The cost for the new card, which is valid for five years, is 17 euros. On Tuesday, February 1, the Federal Public Service Foreign Affairs in Brussels sent out an e-mail to all registered voters who have provided their e-mail addresses to Belgian representative offices abroad. These voters are invited to participate in a survey on their experiences with Belgian elections held abroad. The questionnaire, which takes only minutes to fill out, should be returned by February 13. Belgians who did not receive the e-mail from the Federal Public Service and who are interested in the survey may contact the Embassy or the Consulate where they are registered for information on how to participate. The survey is limited to registered voters.
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