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Polish – Korean cooperation dialogue

01.07.2022

We see growing space for joint development of technologies, cooperation in the defence and industrial sectors and investments – said Minister Waldemar Buda at the meeting with the Minister of Trade, Industry and Energy of Korea Lee Chang-Yang.

Minister Waldemar Buda at the meeting with the Minister of Trade, Industry and Energy of Korea Lee Chang-Yang

We attach the utmost importance to the strategic partnership with the Republic of Korea. The existing geopolitical environment requires closer cooperation between the partners sharing similar vision and attitude

– pointed out the Head of MEDT.

Trade and investment cooperation

The Republic of Korea belongs to the key economic partners of Poland in Asia and is the second largest trading partner in the region.

Since the signing of the free trade agreement between the European Union and the Republic of Korea in 2011 onward, the value of the Polish – Korean trade exchange has been continuously growing. In 2021, it amounted to USD 8.6 billion (increase by 23% y/y), demonstrating the increase in the Polish export by nearly 25% y/y which amounted to USD 919.5 million and by 23% in the Polish import which amounted to USD 7.7 billion.

In 2019 and 2020, Korea was the largest Asian investor in Poland – primarily in the area of greenfield projects focused on advanced technologies.

We are very pleased to welcome information on the subsequent projects of the Korean companies in our country. The investment decisions announced recently look impressive, yet we hope for subsequent projects to come

– stressed Waldemar Buda.

Other issues

The other items in the meeting agenda included also the candidature of the Republic of Korea as the potential EXPO 2030 host country (Busan city), activities of the working group for industrial cooperation and strengthening collaboration in the defence and industrial sectors.

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