(MENAFN- Khaleej Times) Speaking at the UAE-Poland Business Forum minister Sultan bin Saeed Al Mansouri said UAE companies found potential investment opportunities in infrastructure manufacturing of construction materials travel and tourism.
Abu Dhabi - The UAE is keen to benefit from Poland’s industrial knowhow apart from investing in its petrochemicals healthcare food security and renewable energy sectors said Sultan bin Saeed Al Mansouri Minister of Economy.
Speaking at the UAE-Poland Business Forum the minister said UAE companies found potential investment opportunities in infrastructure manufacturing of construction materials travel and tourism during a visit to Warsaw.
Al Mansouri said that he is also keen on cooperation in the area of higher education and business partnerships at the level of SMEs where UAE youth and Polish entrepreneurs could translate their ideas into products and services.
The Minister said bilateral trade between the two countries was worth $1.3 billion in 2014. It has tripled in five years and shows potential for future growth.
With the UAE and GCC seeking food security there could be scope for cooperation in agriculture trade. For example Polish apples and other farm produce can tap demand in the UAE owing to their good quality Al Mansouri said.
The UAE recently introduced various laws to boost its business environment — laws on trade companies and SMEs to open doors for more investments. He cited a Polish firm Global Compact Network having invested $55 million this year to benefit from the country’s advantages for regional business.
Poland’s deputy prime minister and the minister of economy Janusz Piechocinski said he is convinced that bilateral trade which grew from $500 million to $1.3 billion in five years will grow further.
The minister said the UAE can benefit from Poland’s technological expertise in the areas of bio-technology information and communication technology or ICT renewable energy and environment protection. “We are interested in boosting mutual cooperation in civil engineering healthcare and agro-food sectors” he said.
Poland is open to foreign investors he said. “We are highly ranked in this regard due to very low investment risk. Our attractiveness can be attributed to a large domestic market a competitive and well–educated human capital political and economic stability as well as the membership in the European Union” the minister said.
He praised the UAE’s economic growth of 4.3 per cent in 2014.
The minister said Poland is open to investments from the UAE in modern civil engineering projects in major Polish cities. He said foreign investors can benefit from special tax exemptions and other facilities in one of the 14 special economic zones in Poland.
Polish industrial growth remained strong in the European bloc which saw low or even zero growth in many countries he said.
Poland has recently set up a trade and investment promotion office in Abu Dhabi. The minister hoped this office would expand his country’s presence in the region.
Poland’s trade mission comprises 34 companies drawn from across industries including construction food services consulting renewable energy auto parts furniture and design yachtmaking household appliances and children’s products.
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