Dubai: The UAE minister of economy called for stronger economic cooperation between the UAE and Poland, pointing to energy, industry and tourism as the main areas of investment in each country.
Sultan Al Mansouri was speaking at the UAE-Poland Business Forum organised by the Dubai Chamber of Commerce and Industry yesterday, attended by the Polish prime minister.
"UAE trade with Poland in 2008 was in the region of $500 million [Dh1.83 billion] annually and was low due to the global financial crisis, but the current figures are quite positive and encouraging," he said.
Abdul Rahman Saif Al Ghurair, Chairman of the Dubai Chamber, said that between January and October 2011, Dubai's non-oil trade with Poland was valued at Dh1.8 billion and together the two countries could push these figures higher.
‘Great potential'
"At the end of 2010, Poland ranked 60th on the list of Dubai's top trading partners. Presently, the number of Polish partnership companies registered with the Dubai Chamber is relatively low, at 20, therefore we see great potential and scope for more investors to set up businesses in the emirate," he added.
Al Ghurair said exports and re-exports by Dubai Chamber members to Poland grew 131 per cent in 2011 from Dh13.6 million in 2010 to Dh31.4 million last year, stating that the forum will help boost the economic ties of both the trading countries.
"We see a huge potential for businesses from both countries to work together to enhance their business ties as Poland offers expertise in construction, aviation, oil, gas, energy, banking and finance.
"Meanwhile, the driving forces of our economy include trade, financial services, logistics and tourism and we look forward to working with you in these common areas of interest," he said.
Symbol of endurance
Polish Prime Minister Donald Tusk lauded the strong partnership enjoyed by his country and the UAE and the growth of Dubai which he said has become a symbol of human endurance, economic development, hospitality and peaceful co-existence.
He encouraged investment between the UAE and Poland, saying that his country was ready to invest $200 billion here during the next ten years.
The deputy director of the Polish Information and Foreign Investment Agency said trade between Poland and the UAE varies between $300 million and $800 million annually and goods exported to the UAE include mechanical and electric appliances which represent 33 per cent, non-precious metals 16 per cent, food products eight per cent, cosmetics seven per cent while goods imported are aluminium 65 per cent, plastics 21 per cent and textile materials seven per cent.
