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Poland focuses on strengthening economic cooperation with Arab countries

18.11.2021

Minister of Economic Development and Technology Piotr Nowak met today with Ambassador of Kuwait Khalid Yateem Al-Fadhli and Ambassador of the United Arab Emirates Eman Ahmed Al-Salami. The talks focused on the possibility of intensifying mutual economic cooperation and took place on the eve of the upcoming Polish-Arab Economic Forum to be held in Dubai on December 6, 2021. It will be one of the most important economic events organised by Poland during the EXPO 2020 World Exhibition.

Minister of Economic Development Piotr Nowak and Ambassador of the United Arab Emirates Eman Ahmed Al-Salami

Polish-Arab Economic Forum

The Polish-Arab Economic Forum will be held for the first time in the history of Poland's relations with countries in the region. The Forum will serve as a platform for presenting the mutual business offer between Poland and Arab countries. The meeting of Polish and Arab business in Dubai will also be attended by political decision-makers and experts. During the Forum Polish companies will present their achievements, and will also have the opportunity to establish cooperation with economic partners from Arab countries. The main themes of the panel discussions scheduled for the Forum will be the development of green energy, the presentation of the Polish export and investment offer, topics related to the infrastructure of the future, as well as modern design inspired by tradition and food safety issues.

Poland's economic relations with Kuwait and the United Arab Emirates

 Kuwait is the first country from the Gulf region to establish official diplomatic relations with Poland, back in 1963.

Mutual trade turnover in 2020 showed an upward trend and exceeded USD 115 million (an increase of 27% compared to 2019), including Polish exports of nearly USD 109 million (an increase of 28%). The main item, traditionally, is agro-food items - USD 47 million last year, about 43% share in n/exports. Imports from Kuwait are mainly plastics and products made of them. Taking into account the tradition of close economic relations and the potential of both countries, the policy pursued by the Ministry of Foreign Affairs aims to increase Polish-Kuwaiti trade exchange and investment cooperation.

In turn, the United Arab Emirates is the second - after Saudi Arabia - largest partner in Poland's trade with the Gulf countries and the first - in terms of the value of Polish exports in 2019. According to CSO data for January-August 2021, there was an upward trend in Polish-Iraqi trade turnover. Their value amounted to USD 560.4 million (16% increase compared to 8 months of 2020), including Polish exports - USD 430.6 million (8.5% increase), while imports - USD 129.8 million (49% increase). According to NBP data, the total value of Polish direct investments in the United Arab Emirates at the end of 2020 was estimated at USD 264 mln. Polish companies operating there include those from the oil and gas, construction, installation, IT, surveying services, furniture, cosmetics, medical equipment, luxury yachts and metal packaging industries.

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