The Republic of the Philippines and the Kingdom of Belgium established diplomatic relations on 4 July 1946.  Since then, bilateral relations between the two countries have been characterized by harmony and close cooperation. Belgium has consistently remained oen of the biggest trading partners of the Philippines with exports amounting to US$ 323,982,875 and imports valuing US$ 221,820,673 from January to November 2010, next only to The Netherlands and Germany.

In terms of foreign direct investments, Belgium is one of the major European investors in the Philippines amounting to 13.52 million pesos from January to June 2010.

Belgium has also been a strong development partner of the Philippines.  For the period 2001-2004, Belgium has contributed Euro31.66 million in development assistance.  The assistance included direct bilateral aid, indirect aid through non-government organizations and scholarships, multilateral aid, emergency assistance and concessional financing.

One prominent project of Belgium in the Philippines is the Phase II Modernization of the Light Rail Transit System.  The Project is in line with Belgium's continuing commitment to promote modern mass transportation systems in urban areas. In terms of investments, Belgium has a number of companies operating in the Philippines. These companies are in sectors of pharmaceuticals, transport, food preparations, electronic and communications and banking.