Wagralim, the innovation cluster of the Walloon region, Belgium participated the Belgian Economic Mission to China under the presence of the H.R.H. Princess Astrid and five ministers, local agribusinesses. A total of 632 Belgians moved to Beijing (the political capital) and then to Shanghai (the economic capital). This makes it the largest economic mission ever organized by Belgium.
With a billion four hundred million inhabitants, China represents a significant market for European countries, especially for Belgium and Wallonia. Elected 7th in the export rank for Belgium in 2018, it ranked 13th in the export rank for Wallonia. In addition, the total value of exports of Belgian goods to China was estimated at 7 billion euros in 2018.
With growth slightly above 6% per year, it is undoubtedly a major attraction for foreign companies, especially as the liberalization of its economy is progressing and production costs remain low.
Given these figures, a Prince’s Mission was timely for agribusiness companies wishing to develop in this country. As far as businesses are concerned, 80 Walloon and 53 Brussels companies have gone on site to expand their market. 42 agreements (with Chinese institutions and companies) were signed in Beijing, including a € 2 million distribution contract for Vésale Pharma, specialized in research and development of microbiotic solutions. In Shanghai, 31 contracts were signed.