Brussels exports to London and supports its businesses on the British market
Brussels Secretary of State for Foreign Trade Ans Persoons visits the Brussels Boutique set up by hub.brussels in the heart of London.
Ans Persoons, Brussels Secretary of State for Foreign Trade, is currently in London to inaugurate the Art & Crafts section of the Brussels Boutique, a showcase for the products and expertise of Brussels companies. This mission to the United Kingdom is also an opportunity to take stock of trade relations between Brussels and the United Kingdom and to conclude on a positive assessment of the actions taken to support businesses post-Brexit.
"With a largely positive trade balance in 2022, amounting to a record EUR 292.1 million, and an increase in exports of 187%, returning to the levels reached in 2016 and 2017 (EUR 595.8 million), Brussels companies are doing very well on the British market and are definitively turning the page on Brexit. Thanks to the combined efforts of the businesses and the Region's support and assistance measures, our trade relations and exports are booming. Brussels is shining on the international stage thanks to the dynamism of our small and large businesses, and through hub.brussels we will ensure that they continue to develop internationally," says Ans Persoons, Brussels Secretary of State for Foreign Trade and European and International Relations.
Brexit and Brussels support for businesses :
As a result of Brexit, the European Union and the United Kingdom have become two distinct markets and two distinct regulatory and legal areas since 1 January 2021. Economic and trade relations between Belgium and the United Kingdom, as well as federated entities including the Brussels-Capital Region, will henceforth take place in this specific context. The UK's exit from the European Union has created new obstacles to trade in goods and services, as well as to mobility and trade, affecting public administrations, businesses and citizens alike.
Since 2018, many actions have been deployed thanks to regional funding, but especially from 2020, thanks to a budget of more than €10.7 million allocated to the Brussels Region as part of the €5.4 billion Brexit Adjustment Reserve (BAR) approved by the European Council. The aim of this fund is explicitly to support the regions and businesses most affected and to deal with the unforeseen negative consequences of Brexit.
In addition to specific actions, Brussels companies have been able to count on the hard work of hub.brussels' Economic and Commercial Advisor (ECA) in London. Since the regionalisation of Belgian foreign trade, Brussels has had a permanent representation in London to support Brussels companies in their exports and attract British investment to Brussels.
The statistics for 2023 show a sharp increase in the number of applications to around 150 individual support packages for Brussels-based exporting companies. This increase can be explained by the additional funds from the BAR, which were used to organise collective actions, 23 in all, bringing together 359 Brussels companies. Finally, the ECA is also responsible for prospecting potential investors. Each year, around 50 potential British investors are identified.
The Brussels Boutique :
The Brussels Boutique is the commercial name of a series of pop-up stores that hub.brussels is organising in the heart of London, at Piccadilly Circus on London's iconic Regent Street, no. 52.
From July to December 2023, a series of three themed pop-up stores will be set up to give Brussels-based companies a chance to test the British market. Companies exhibiting in the pop-up store will pay only import duty, with all profits from the products sold going to them.
The objectives of the Brussels Boutique are :
- To promote Brussels exports to the UK.
- To promote the image of the Brussels-Capital Region through regional city-marketing.
3 themed pop-up stores were organised in connection with the priority sectors in Brussels identified by an economic impact study carried out by the KUL. A total of 65 Brussels companies were represented in the Brussels Boutique:
- July 2023: 25 Brussels-based food and beverage companies. A total of 186 food products were sold during the Food and Beverage pop-up for a total value of £7,857.20.
- September-October: 22 fashion and design companies from Brussels. A total of 967 Brussels items were purchased for a total value of £13,770.88.
- December 2023: 18 Brussels arts and crafts companies. No sales yet.
The Brussels Boutique is also available to Brussels-based companies for B2B meetings, private visits and events. For example, companies based in Brussels (whether or not they are participating in the Brussels Boutique) can organise a B2B activity in the pop-up outside official opening hours. In this way, the venue is offered free of charge, and Brussels-based companies pay only for additional organisational costs (catering, staff, etc.).
Finally, other institutional partners (the federal level or other federated bodies and agencies) are also invited to organise events in the Brussels Boutique.
In all, 13 B2B and diplomatic events were organised outside the official opening hours of the Brussels Boutique, with a total attendance of around 550 people.
The entire operation is financed by European funds, namely the Brexit Adjustment Reserve Fund, designed to mitigate the negative economic impact of Brexit on the Member States affected.
Un aperçu complet des chiffres reflétant les mesures prises par la Région de Bruxelles-Capitale depuis le Brexit est joint ci-dessous.
