Gulf News, UAE

UAE and Poland to strengthen bilateral trade

Nations also decide to encourage companies and business organisations

9 February 2013

Dubai: The UAE and Poland have agreed to undertake all possible measures to further promote bilateral trade and develop economic relations as the first meeting of the UAE-Poland Joint Commission for Economic Cooperation began in Warsaw on February 6. The meeting, co-chaired by Sultan Bin Saeed Al Mansouri, UAE Minister of Economy, and Janusz Piechocinski, Poland’s Deputy Prime Minister and Minister of Economy, decided to strengthen mutual ties through coordinated efforts such as enhanced participation in international trade fairs and exhibitions in both countries, exchange of trade and business missions, and organising investment conferences and seminars.

In order to create greater involvement of the business community in the process, the two countries also decided to encourage companies and business organisations, including chambers and associations, to strengthen their cooperation with each other. “The UAE has gained considerable strength having overcome the challenges of the global economic downturn. In these times, I believe we need to stay on the path of innovation and partnerships because that is the key to building any nation’s competitiveness. I am happy that the UAE and Poland have recognised this early on and we have been working together to steadily expand our bilateral economic,” said Al Mansouri.

“Bilateral trade between the two countries has been growing since the end of the first phase of the global economic recession, exceeding $400 million [Dh1.47 billion] in 2011 and is expected to be $550 million in 2012. However, the figure amounts to less than 1 per cent of the respective global trade of the two countries, which shows the massive unrealised potential,” Al Mansouri added.