Prices for agricultural land in Europe have been growing steadily despite the economic downturn as the world population continues to grow and more foods has to be produced. Average price of agricultural land in France reached USD 7,000 in 2009 from USD 4,500 in 2007. Farmland prices in other European countries including Benelux continue to grow at a similar pace.
THE NETHERLANDS â€“ Dutch bank and insurance group ING said on Thursday that it will undergo a complete overhaul. ING intends to manage its banking and insurance divisions separately, under the umbrella of the group.
The Belgian retail trade wants to increase the number of green (environmentally-friendly) or sustainable products on shelves in Belgian supermarkets. Bio and Organic food is becoming more popular all over Europe despite economic slowdown.
BRUSSELS: Steel giant Arcelor-Mittal is shutting down one of two furnaces in its Ghent plant in western Belgium. The closure will be temporary and the Arcelor-Mittal staff manager Guy Bontinck said that the Belgian workforce should not fear for their jobs.
Business & Economic roots of BENELUX in the recent history go back to the treaty establishing the Benelux Customs Union signed on September 5, 1944, by the governments in exile of the three countries in London, and entered into force in 1948. It ceased to exist on November 1, 1960, when it was replaced by the Benelux Economic Union after a treaty signed in The Hague on February 3, 1958. It was preceded by the (still existent) Belgium-Luxembourg Economic Union, established on July 25, 1921.
The founding of BENELUX contributed to the founding of the European Union (EU), though the immediate precursors to the EU were founded later (the ECSC in 1951 and the EEC in 1957). The three countries were also founding members of these organizations, together with West Germany, France, and Italy.
With the establishment of the European Union, Benelux has remained the center of political and business initiatives which shape up the modern European business landscape. Having derived from the commercial efficiency principles, BENELUX remains a convenient location for many international businesses today.