DUBAI: Hamad Buamim, President and CEO, Dubai Chamber of Commerce and Industry, called upon UAE and Polish businesses to explore new business opportunities and to further consolidate their bilateral ties made stronger over the years in light of the Chamber’s strategic priority of strengthening economic relations with Central Europe.
Despite some distance between the two countries, Poland and Dubai share many similarities. Poland is a gateway to markets in Central and Eastern Europe and Russia while Dubai is a gateway to the Middle East, Southeast Asia and Africa thus their strategic locations offer ample opportunities for enhanced trade ties, he said.
Speaking at the UAE-Poland Business Forum organised in association with the Polish Information and Foreign Investment Agency and the Polish Embassy in the UAE at the JW Marquis Marriot hotel on Thursday and attended by over 100 businesses from Dubai and Poland, H.E. Buamim repeated the Chamber’s commitment to provide all the support and facilities to Polish businesses in Dubai as he also urged Polish investors to make Dubai their base in reaching out to over 2 billion consumers in the region.
The President and CEO of Dubai Chamber stated that Dubai enjoys a solid trade relationship with Poland which has grown consistently over the past five years as the country has risen from the emirate’s 59th trade partner in 2010 to 53rd in 2014.
“Dubai’s total non-oil trade with Poland has risen from AED1.8 billion in 2010 to AED3.6 billion in 2014 with a 100% increase as last year alone saw a 35% increase in trade from around AED2.6 billion to over AED3.6 billion. Currently, there 31 Polish companies registered with Dubai Chamber and we see great potential and scope for more Polish investors to set up business in Dubai,” said H.E. Buamim.
“Opportunities for Polish businesses exist across a variety of sectors in Dubai’s lucrative investment environment led by its economic drivers including trade, tourism, logistics and financial services while Polish expertise in food security, trade and manufacturing is attractive for Dubai’s economy and businesses from the two sides can rightly take their bilateral relationship to a much higher level,” he added.
On his part, H.E. Janusz Piechocinski, Deputy Prime Minister, Poland Ministry of Economy, stated that Poland and the UAE with their few decades of history have been enjoying a strong bilateral relationship over the last 20 years and have lot in common including similar philosophy for cooperation, respect for each other and enterprising spirit which put together has seen trade exchange between the two sides grow at a rapid pace.
“It’s time for our two countries to look beyond trade exchange and join forces in mutual areas of investments and to share expertise in Polish industrial products as Poland is the first in the area of furniture exports and automotive parts and a world power in agricultural products and the UAE is a leader in renewable energy and modern civil engineering projects and both the countries enjoy strategic locations to their respective regions,” he said.
The Deputy Prime Minister of Poland Ministry of Economy added that new business opportunities can be found especially in high technologies such as biotechnology, ICT, and environment protection in his country.
H.E. Piechocinski also said that Poland is the 6th largest economy in Europe and is open to foreign investors who can benefit from special tax exemptions and other facilities in the country’s 14 economic zones.
The Forum also had presentations on Dubai’s Economic Outlook and Dubai Chamber Services for companies wanting to enter the Dubai market by Omar Khan, Director, International Offices, Dubai Chamber.
In another presentation, Mr. Aleksander Libera, Advisor to the Board on Polish Investments Abroad, Polish Information and Foreign Investment Agency spoke about the investment climate in his country besides providing a list of Polish companies participating in the Polish delegation. H.E. Adam Krzymovski, Ambassador of Poland to the UAE, delivered the welcome address.
