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Business Profile: Although Brussels accounts for just 0.5% of Belgium's surface area and has a population of under one million, the region generates 15% of the nation's Gross National Product. However, unemployment remains relatively high: 13.5% against 8.6% on a national level (1999 figures).

Most Belgian companies are based in the capital, including the Glaverbel, Solvay and Sabena. The strategic centre of the European Union, Brussels also plays host to NATO. The presence of these international organisations, combined with Brussels' geographic location at the heart of Europe, excellent transport infrastructure, highly trained multi-lingual workforce and favourable fiscal regimes, draws nearly 2,000 foreign companies to Brussels, including 1,400 American companies, over 1,000 international associations. The presence of some 60 foreign banks has contributed to making Brussels the world's seventh biggest financial market. Along with American companies, France, Germany, Sweden, the United Kingdom, Switzerland and Japan also have a strong financial links with Brussels. Foreign companies with a presence in Brussels include: AT&T, IBM, Sony, Toyota, Procter & Gamble, Hewlett Packard, Volkswagen and PriceWaterhouse-Coopers.

The tertiary sector accounts for nearly 80% of all jobs - in various fields such as banking and financial services, tourism and transport. Nonetheless, Brussels remains the nation's second most important industrial centre after Antwerp. Industry is increasingly specialised in high-tech sectors and accounts for 15% of employment.

There are several major business districts. The city centre is where the Belgian financial groups (such as the FORTIS and BBL) and government ministries are based. The Espace Nord is much favoured by public administrators and private-sector companies, such as Belgacom, Bankcard Company and The World Trade Center. The Louise area is occupied by national and international companies while the coveted LÉopold area is dominated by the European Parliament.

Brussels' international flavour is also evident in the numerous diplomatic missions present and the city welcomes nearly 16,000 business congresses annually. Nearly a third of the capital's population is made up of foreigners, giving Brussels a truly cosmopolitan flair.

Business Etiquette: A certain degree of business formality is expected in Brussels. It is wise to confirm meetings in writing and arrive punctually, armed with business cards and wearing a suit (with tie for men). On introduction, address colleagues with their surname, respecting any professional or academic qualifications. English is the standard language of business.

Personal relationships are important, so relaxed lunch meetings help develop trust, a stage that must be reached before decisions are made. Companies are hierarchical and as many managing directors do not delegate, it is advisable to go straight to the top. Standard office hours are Monday to Friday 0830-1730.



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