UAE to forger closer economic ties with Poland

Published February 8th, 2010 - 02:24 GMT

 The UAE Minister of Economy, His Excellency Sultan Bin Saeed Al Mansouri, has hailed the recent visit of a UAE delegation to Poland as a valuable step forward in economic relations between the two countries.

H.E. Al Mansouri said: “Poland and the UAE share considerable common ground on a variety of important economic issues, and we expect even closer cooperation and more mutual investment opportunities as an outcome of this extremely fruitful meeting. This exercise has underlined the attractiveness of the UAE to foreign direct investment.”

H.E. Al Mansouri and other UAE officials met with senior representatives of more than 100 top Polish companies; more than half of these companies expressed a keen interest to invest in the UAE.

The UAE delegation also met with senior figures in the Polish government, including ministers of finance, tourism and agriculture.

Poland and the UAE have agreed to set up a joint committee to facilitate a closer working relationship on economic and investment-related issues.

H.E Al Mansouri said that UAE enterprise was a key pillar of the national economy and its high standing in the region, adding that a framework for the committee, which will involve influential UAE government and private sector companies, will be submitted by the end of the second quarter.

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H.E. Mohammed Ahmed Bin Abdul Aziz Al Shihhi, Director General of the Ministry of Economy, said: "The visit has built on the strategic relationship the UAE enjoys with Poland, and enlarged the gateway Poland offers into the European Union, the world’s largest economic bloc.”

H.E Asim Mirza, UAE Ambassador in Poland, said: “Poland clearly understands the critical importance of the UAE as a trading partner, which is one of the most developed and open economies in the Middle East. We value the active contribution of the UAE Ministry of Economy towards strengthening ties between the two countries, and the UAE’s embassy in Poland is committed to tirelessly supporting these efforts.”

Participants from the UAE business community in the delegation were enthusiastic about the potential positive knock-on effects on bilateral trade from the visit.

H.E. Mohammed Al Qamzi, CEO of ZonesCorp, said: “The visit identified attractive investment prospects in Poland and plenty of opportunities to share experiences and insights, as well as opportunities to attract large Polish companies to the UAE.”

Shukri Salem Al Mehairi, General Manager of Dubai Investments Industries, another member of the delegation, added: “Poland has undoubted strengths in the industrial sector, which is an opportunity for the UAE to improve its own industrial capacity through strategic investments in the sector.”

Khalid Essa Abdulla Buhumaid, Dubal’s Vice President of Corporate Relations and International Affairs, said a closer relationship with Poland will aid Dubal’s own regional and international expansion plans.

Mr. Obaid Saeed Al Dhaheri, Director of International Affairs at Borouge, said: "Poland is a leader in the petrochemicals sector, and we have gained a positive response from various Polish companies on proposals to cooperate more closely in this field.”
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Mr. Ahmed Abdullah Al Shamsi, Business Development Director of Al Maabar, said: “We are monitoring opportunities in Poland’s real estate sector, which is proving more resilient than property markets in neighbouring countries.”

Mr. Rashed Obaid Al Dhaheri, Senior Associate at Masdar Power (Masdar), said he applauded Poland’s initiatives in the alternative and renewable energy sector and saw various avenues for collaboration.

Mr. Anas Al Barguthi, Business Development Manager at Mubadala, said: “Poland’s economy is well diversified and therefore has shown greater resilience in the face of the economic downturn. The country’s move towards privatisation offers considerable potential for investment.”

Mr. Mansour Al Hebabi, Assistant Business Analyst, at IPIC said: "The Poland visit provided valuable insights for IPIC’s expansion planning, especially with respect to the oil and gas industry.”


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