Trade Panel Targets Aerospace, Research and Higher Education Links

India, Belgium and Luxembourg have agreed to explore new avenues for cooperation in aerospace, research and innovation, and higher education, the Commerce Ministry announced in a statement on Friday. The move is aimed at strengthening economic ties among the three countries.

The 19th meeting of the Joint Economic Commission of the India-Belgium-Luxembourg Economic Union was held in Luxembourg. The session reviewed the current state of bilateral trade and investment and explored ways to enhance economic collaboration in key sectors.

The meeting was co-chaired by Commerce Secretary Rajesh Agarwal, Philippe Vanden Bulcke from Belgium's Federal Public Service for Foreign Affairs, Foreign Trade and Development Cooperation, and Henri Schumacher from Luxembourg's Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade.

Delegations examined a wide array of sectors. Logistics, especially air connectivity and ports, figured prominently, alongside renewable energy, clean technology, financial services, fintech, digital transformation, ICT, healthcare, life sciences, Ayurveda, traditional medicine, agriculture and food processing.

Beyond these sectors, the participants chose to pursue collaboration in aerospace, research and innovation, higher education and skill development. They also discussed market access and trade-related concerns, seeking to remove barriers and identify additional openings for economic engagement.

The three countries used the session to exchange views on their economic priorities, assess progress across cooperation areas, and find ways to expand business engagement and investment partnerships. They reaffirmed that continuous dialogue is essential for mutually beneficial economic relations.

After the commission meeting, Rajesh Agarwal interacted with chief executive officers of companies headquartered in Luxembourg. He pointed to India's strong economic growth and investment potential and stressed opportunities in financial services, advanced manufacturing, logistics, clean energy, digital technology, healthcare, and research and innovation.

According to the ministry, he encouraged Luxembourg companies to pursue long-term investment, technology partnerships and engagement with Indian businesses to address the needs of global value chains.