The Belgium – Luxembourg Economic Union was established on the 25th of July 1921 when both countries signed a treaty. On accord of the treaty the financial borders were removed and the Belgian and Luxembourg Francs were set at an 1 to 1 exchange rate.
It would however take until 22 December 1922 before the treaty went into effect because it still had to be approved by the Luxembourg Chamber of Deputies.
The duration of the treaty was 50 years and expired in 1972. After this date the Economic Union was renewed during terms of 10 years in 1982 and 1992. In 2002 on the 18th of December the two countries signed a new agreement.
11 November 2005 the BLEU – Mauritius Bilateral Investment Treaty was agreed upon which is the commemorative subject of this 2 Euro coin.
Because of the cooperation between Luxembourg and Belgium the heads of states are depicted on the obverse. The effigies of the Grand Duke Henri of Luxembourg and King Albert II of Belgium decorate this side of the 2 Euro coin commemorating the Belgium – Luxembourg Economic Union.