The Ambassador of Belgium to India, Mr Pierre Vaesen, on Tuesday said that biotechnology, nanotechnology and renewable energy would be the key areas of trade between the two countries.
Currently, India-Belgium trade focuses on areas such as metallurgy, chemicals and pharmaceuticals.
“Logistics, renewable energy (solar, wind, geothermal), collaborative research and car assembling will be some of the prime areas of mutual trade interest between India and Belgium,” Mr Vaesen said at an interactive session organised by the Indian Chamber of Commerce here today.
Belgium companies investing in India should go in for joint ventures with Indian companies to tide over issues such as procedural complications and labour problems, he added.
In 2010, the bilateral trade between the two nations was nearly Rs 688 billion. The major items of export from India to Belgium include precious stones, textiles & garments, iron & steel, chemicals, minerals, machinery and electrical equipment.