MENAFN - Khaleej Times
UAE, Poland boost trade ties
(MENAFN - Khaleej Times) Bronislaw Komorowski, President of the Republic of Poland, stated that the UAE which is a strategic partner in the Middle East has all the capabilities to become a major trade partner outside the eurozone for Poland as he expressed his country's desire to strengthen bilateral ties with the UAE.
He said that both the UAE and Poland have a lot in common as both have come up the hard way since their formation to become economically sound and to sustain their growth trajectory over the years. Both are gateways to their respective regions and have to utilise this status to their advantage.
The Polish President was speaking at the UAE-Poland Business Forum organised by Dubai Chamber of Commerce and Industry in collaboration with the Embassy of the Republic of Poland at on Thursday in the presence of ministers, dignitaries and representatives of a cross-section of private sector companies in Dubai.
Drydocks World, MARS ink agreement
DUBAI - Drydocks World and Maritime World, the internationally renowned provider of maritime and offshore services to the shipping, oil, gas and energy sectors, signed a MoU with MARS Fundusz Inwestycyjny Zamkniety (MARS Closed-End Investment Fund), a Warsaw, Poland based company, that manages multiple companies engaged in marine and maritime sectors including shipyards, ship repair services and constructing offshore structures for the oil and energy sectors.
The MoU was signed by Khamis Juma Buamim, chairman of Drydocks World and Maritime World, and Piotr Slupski, President of the Management Board, MARS Fundusz Inwestycyjny Zamkniety, on the sidelines of the UAE Poland Business Forum on Thursday. Sultan Al Mansoori, Minister of Economy, UAE and Mohammed Abdulaziz Al Shehhi, Undersecretary of the UAE Ministry of Economy attended the event.
The forum was organised by Dubai Chamber of Commerce and industry in collaboration with the Embassy of the Republic of Poland in conjunction with the official visit to the UAE of Bronislaw Komorowski, President of the Republic of Poland.
The mutual areas of cooperation under the MoU will be based on identification of projects suitable for common execution or close partnership. This will result in the development of investment opportunities and exchange of knowledge in all aspects of business and industry, including workforce development, education and training, research, and jobs opportunities and facilitate the exchange of investments in the maritime and marine sectors.
Khamis Juma Buamim, said: "Our businesses can complement each other especially in areas of mutual interest such as services related to oil & gas and renewable energy. We are always looking at forming meaningful partnerships with global institutions working in the same field and to support the growth of marine and maritime sectors. There is considerable synergy in what we do and this can provide substantial leverage for the alliance especially in the European market."
Komorowski congratulated Dubai for winning the honour to host World Expo 2020 which he said will be a huge success due to the emirate's track record and will be an ideal place for the global business leaders to meet and enhance their trade ties as he confirmed the attendance of Polish companies to the strategic international exhibition being held on Dubai's soil.
Highlighting his country's economic progress in the last 25 years, Komorowski pointed out that Poland was playing similar role that of Dubai to create a network of global business partners as the country is a major gateway to the European region and is the sixth largest economy in the European continent.
The Polish President said that his country has successfully sustained its economic growth since the global financial crisis to achieve a CAGR of 20 per cent for the past five years on the back of its exports and domestic demand and increased investments and expects the economic growth to increase to more than three per cent in 2014 from the 2.5 per cent this year.
He called upon the UAE companies to invest in his country which he said is open to foreign investments and encourages companies of all types and sizes, stating that the percentage growth of FDI to the GDP of Poland has risen from 25 per cent in 2002 to 50 per cent in 2012.
The forum was also attended by Sultan bin Saeed Al Mansouri, UAE Minister of Economy, and Dubai Chamber Board Members. In his keynote address, Al Mansouri, stated that the UAE and Poland share economic synergies that will lead to mutually beneficial relations.
Al Mansouri stated that the UAE welcomes the serious commitment on the part of the Polish leadership and the government in sharing with the UAE leadership and government the desire to strengthen our economic relations. He added that the two countries enjoy excellent locations and access to major global markets and possess lucrative business potential to establish major joint investment projects and this UAE Poland Business Forum is an ideal ground for the two friendly countries to enhance their bilateral ties and to take these to a higher level. The UAE Minister of Economy further stressed that the volume of trade between the two countries during the first half of this year reached 600 million and is expected to reach 1 billion by the end of the year which is a 100 per cent growth compared to last year.
He stressed that the high level talks with Poland thus far has focused on enhancing bilateral ties through effective coordination mechanisms including hosting of business forums, launching of joint task forces, networking meetings, and means to explore investment opportunities between the investors of both the countries which all augur well for the long-term trade relationship for both the sides.
Hisham Al Shirawi, second vice-chairman, Dubai Chamber, stated that through this important business forum both Dubai and Poland have to build stronger bilateral ties for the future.
"With the foundation of the dialogue laid in the earlier two forums in Dubai and Warsaw, now is the time for the two sides to explore new ways that can benefit each other's strategic location and close economic relationship with the Middle East and Europe," he said.
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