The trade volume between Egypt and Poland is estimated at US$400 billion, according to Commercial Minister Plenipotentiary Galal al-Sawy, head of the European Union Department at the Egyptian Commercial Representation Body, which targets $1 billion worth of trade by 2016.
He added that the intra-regional trade reaching this figure can be achieved, givien mutual visits by business missions from the two countries, as well as the contracts that have been signed over the past few months. He also said that a high percentage of Egyptian exports reaches Poland through Germany, Italy and Slovenia.
Egyptian exports to Poland, according to al-Sawy, reached $137.5 million in 2014, marking a $7.5 million increase compared to the targeted rate, while the rate of Polish exports to Egypt reached $278 million, compared to $275 million in 2013.
The remarks were made during the opening of the Egyptian-Polish business forum, attended by the Egyptian Businessmen’s Association (EBA), Polish Deputy Minister of Economy Andrzej Dycha, and the Polish delegation which took part in the Egypt Economic Development Conference, that concluded on Sunday in Sharm el-Sheikh.
Dycha said that EEDC was an important step on Egypt’s economic development path, adding that his country is interested on boosting bilateral economic ties.
Poland, according to Dycha, supports economic growth in many Arab countries through investing in their markets, and is interested in increasing the trade exchange.
Meanwhile, Polish Ambassador to Egypt, Michał Murkocinski stressed the importance of the EEDC, saying it was an opportunity to discover that cooperation with Egypt is possible in several fields. The Vice President of the Polish Chamber of Commerce, Andrzej Donocik, mentioned the food sector, transportation, energy and electronic industries as areas of possible coopereation.
EBA CEO Mohamed Youssef highlighted the importance of boosting bilateral economic and trade ties with Poland, which is a strong trade partner for Egypt.
Egyptian businessmen, according to Youssef, have been invited to participate in a conference that will be held in Poland in May.
He also mentioned major bilateral investment and trade opportunities in the area of agriculture, new and renewable energy, shipping and logistics.
A significant part of the Polish production is concentrated in the agriculture sector, mechanised agriculture and machine industry, he said. This sector represents 14 percent of the production, while 40 percent is represented by electronic industries, 14 percent by chemical industries and 11 percent by metal industries.
EBA Vice-CEO Medhat al-Qeesy said that a number of follow-up meetings will take place over the coming period, especially during the May conference in Warsaw.