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17 March 2017

Poland - Egypt Economic Forum, the new era of cooperation

“By the meeting today, we are opening a new era of Polish-Egyptian relations” said secretary of State at the Ministry od Economic Development while opening the Poland - Egypt Economic Forum on 17 March 2017 in Warsaw. “Poland has technology while Egypt skilled, low cost labour”, noted H.E. Tarek Kabil, minister of Trade and Industry of Egypt. As president of the Polish Investment and Trade Agency Tomasz Pisula informed, Poland’s export to Egypt amounted to EUR 334 m last year. “I am very much hoping, that the bilateral investment and trade will increase”, concluded Pisula.

“This year, Poland and Egypt have 90th anniversary of economic relations”, said secretary of State Mr Kwieciński. “I believe, our Polish companies will start cooperation with Egyptian partners. We see the opportunities in mining, oil and gas, and railway sector, food industry, agriculture and machinery. We should also return to old times when we had very good relations in defence industry”, emphasised secretary Kwieciński.

Poland - Egypt Economic Forum (photo: PAIH)

“From 2016, we started to focus on economic reforms. We are also developing specific export plans”, said minister Tarek Kabil. “The major part of Egyptian GDP is industry, followed by agriculture, service and tourism on the fourth place - noted minister Kabil. “Today, we are the gateway to East Africa. Thanks to trade agreement Egypt has the access to 1,6 billion people in Arabic countries, Europe, Asia or Latin America”, minister underlined.

Undersecretary of state at the Ministry of Foreign Affairs, Mrs Joanna Wronecka encouraged the companies from both countries to strengthen the cooperation. “Let’s make this year a year of remarkable trade exchange between Egypt and Poland, so that in 10 years we could celebrate, not only 100th anniversary of the establishment of the diplomatic relations but also the 10th anniversary of a real breakthrough in our commercial relations”, said undersecretary Woroniecka.

Signing of cooperation agreement between Ministry of Economic Development of the Republic of Poland and Ministry of Trade and Industry of Egypt (photo: PAIH)

The president of the Polish Investment and Trade Agency Tomasz Pisula spoke about the results of mutual trade and investments, stressing that the potential for economic cooperation is much higher. “Polish exports to Egypt was worth EUR 334 m last year. The cumulative value of Polish investments in Egypt in 2015 reached EUR 21 m, and the Egyptian in Poland EUR 20 m”, Pisula informed. He also talked about the new goals of the Agency. “Today we are no more responsible only for foreign investments in Poland, but also for the support and promotion of Polish investments and exports”, noted president Pisula.

Mrs Amany Essawi from the Suez Canal Economic Zone and Alaa Ez, undersecretary of State, from the Confederation of Egyptian European Business Associations "CEEBA" presented the investment and cooperation opportunities. The official part of the Forum was ended with B2B talks of Polish and Egyptian companies.

Tomasz Pisula: I believe, that the bilateral investment and trade will increase (photo PAIH)

The forum was organised together by the Polish Investment and Trade Agency and the Commercial Office of the Egyptian Embassy in Warsaw. (PAIH)

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