Webinar and client event on the results of the tenth Export Barometer
During its hybrid webinar on 19 June, Credendo commented on the results of the tenth Export Barometer, organised in collaboration with Trends/Trends-Tendances. 136 clients were present at the event in Brussels, while 160 people attended the live webinar. The Export Barometer provides an overview of the export situation by means of recurring questions asked of exporting businesses. This year’s focus was how the current geopolitical situation impacts the global economy and the daily business of companies.
Companies more cautious
Ineke Uyttersprot, Research Manager at Roularta, presented the findings of the yearly survey, which collected opinions from nearly 900 companies across various sectors. The results highlighted a marked deterioration in Belgian business morale. The overall business confidence indicator has fallen to 5.7 out of 10, which is the second lowest score ever across all survey editions. Export opportunities are now seen more in neighbouring countries, while the United States and Canada fell drastically to 12%, benefiting other regions, especially Asia.
The United States seen as a risk
Nabil Jijakli, Deputy CEO of Credendo, focused on the major outcomes of 10 years of the Export Barometer. Over the decade, three major events have stood out: the invasion of Ukraine, the rise of AI, and Donald Trump’s re-election. The United States is now seen as a risk by 44% of respondents; shifting investment strategies. 38% believe European companies should stop investing in the United States. “Moreover, businesses call for a stronger European leadership in economics, military, and autonomy”, said Nabil Jijakli.
Globalisation will not die but will take another form
The global risk environment is becoming more complex. “The United States is too unpredictable to still be considered as a key partner,” said Pascaline della Faille, Country and Sector Risk Manager at Credendo. Together with Raphaël Cecchi, Senior Country and Sector Risk Analyst at Credendo, she discussed the escalating Iran-Israel conflict and global uncertainty. They noted the chaos from the US trade war and growing risks in Asia involving North Korea, China, and Taiwan. Raphaël concluded: “Globalisation will evolve. Geoeconomic fragmentation will define the new world order, with trade and investments based on geopolitical blocs, especially in strategic sectors.”
Companies successfully adapt their vision and purposes to export and enter new markets
After listening to the experts from Credendo and Roularta, we had the honour of welcoming two of our clients, the first being François Michel, CEO of John Cockerill. He shared Cockerill’s experiences in navigating geopolitical tensions and leveraging strategic defence and energy infrastructure opportunities in markets such as Brazil, Ivory Coast, India, and China. François Michel also emphasised the rising importance of complex financing solutions and Credendo’s role in this.
Another truly global company is Televic, operating in Belgium, France, Australia, China, and elsewhere. Dirk Verbeke, Sales Director at Televic, provided insights into how the company tackles the challenges of international business and how it grows by exporting and acquiring worldwide. He illustrated this with their educational project in Ghana, where local expertise and credit insurance are crucial for successful implementation.
The speakers concluded by looking towards the next ten years, where uncertainty will remain the new normal. Sharing risks and investing in administrative support were cited as effective strategies to address the challenges.
Finally, Bruno Colmant, PhD in Economics and member of the Belgian Royal Academy, caught our attention with his keynote speech on “United States: a fundamental shift in a century”, explaining how and why Donald Trump brings a new mood to the world, but at the same time creates a lot of uncertainty, anxiety and dangers.
Discover more about this afternoon of knowledge-sharing and networking in a summarising video: