New Delhi, Sep 19 (PTI) The 16th session of Joint Economic Commission between India and Belgium Luxembourg Economic Union (BLEU) was convened here to discuss ways to increase economic cooperation, the commerce ministry said on Thursday.

India and BLEU side reiterated the importance of JEC towards development of trade relations through enhancing cooperation in areas such as logistics, renewable energy, aerospace, ICT, Ayurveda and yoga, and tourism, it said.

JEC sessions are convened based on an agreement signed in 1990 in New Delhi.

The biennial event is organised in capital cities of the three countries alternatively, and is the main vehicle for discussing economic and commercial issues between India and BLEU.

The bilateral trade between India-Belgium and India-Luxembourg in year 2018-19 was USD 17.2 billion and USD 161.98 million, respectively.

There are around 160 Belgian companies in India. Several Indian companies particularly in the IT and software sectors like TCS, Infosys, Tech Mahindra and HCL have established base in Belgium to cater to the Belgian and European markets.

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