The government of the UAE and the Republic of Poland have agreed on a joint economic cooperation program that includes paths for partnership and the development of mutual business and investment during the next stage, and cooperation at the governmental and private levels in the priority areas and sectors on the economic agenda of the two countries, most notably food security, renewable energy, advanced technology, agriculture, transport, tourism and space .
The program also included providing programs and facilities that contribute to accelerating the growth of start-up companies and providing incentives and opportunities for investors and exporters from both sides in a way that supports the growth and diversification of projects and trade exchange activities between the two countries.
This came during the meeting of the third session of the joint economic committee between the two countries, which was held in the Polish capital, Warsaw, under the chairmanship of His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and His Excellency Grzegorz Bishowiak, Minister of State at the Polish Ministry of Economic Development and Technology.
A delegation from the UAE participated in the work of the committee, which included HE Rashid Abdul Karim Al Balushi, Undersecretary of the Department of Economic Development in Abu Dhabi, HE Juma Muhammad Al Kait, Assistant Undersecretary for International Trade Affairs at the Ministry of Economy, HE Humaid bin Salem, Secretary-General of the Federation of Chambers of Commerce and Industry in the country, and a number of representatives of the authorities Federal and local government, businessmen and representatives of the private sector from the various emirates of the country.
Dr. Thani Al Zeyoudi stressed that the UAE and Poland have distinguished and well-established strategic and economic relations that have developed over more than three decades, and that the UAE is keen to strengthen these relations and push them to broader horizons of bilateral cooperation and joint economic work in a way that supports the opening of new business areas, especially in There remained great investment and trade opportunities, which would support the sustainable growth of the economies of the two countries.
His Excellency said, “The UAE is one of Poland’s largest trading partners in the region, as the volume of non-oil intra-regional trade between the two countries amounted to nearly 3 billion dirhams during the first half of this year, achieving a growth of 22%, compared to the same period in 2021, while the volume of Intra-non-oil trade between the two countries amounted to 5.3 billion dirhams last year, achieving a growth of 12% compared to 2020.
He added, “Through the committee, we look forward to building a new phase of economic and trade cooperation that contributes to increasing the growth of bilateral trade and mutual investments, by stimulating the establishment of a group of commercial projects, exchanging experiences and knowledge in a number of fields at the level of the public and private sectors, and providing enablers for investors and the business community.” To take advantage of investment opportunities in the two countries.
His Excellency reviewed the most prominent economic initiatives launched by the state within the framework of the vision of its wise leadership for the future, most notably the fifty strategic projects such as the Comprehensive Economic Partnerships Program, the Investopia Global Investment Initiative and the strategy to attract talent. His Excellency also briefed the Polish side on the comprehensive development in the system of economic legislation, including allowing foreign ownership of companies by 100%, flexible tax policies, and facilitating the procedures for establishing a business, consolidating the UAE’s position as a global center for trade and investment. His Excellency called on the Polish business community to take advantage of the incentives and investment opportunities offered by the economic environment in the country, especially in the sectors of real estate, retail trade, manufacturing, technology, financial activities and insurance.
For his part, H.E. Grzegorz stressed the Polish government’s full support for all initiatives and projects of bilateral cooperation with the UAE in the fields of trade and mutual investments, and this was evidenced by Poland’s participation in the “Expo 2020 Dubai”, which included many economic events, including In it the “Polish Arab Forum” and the “Polish-African Forum”, which I had the honor to participate in.
He said, “The meeting represents an important opportunity to present Polish offers in the areas of food security, alternative energy sources, 5G network solutions and information technology services, and the UAE-Polish partnership in the field of mutual investments holds a broad horizon of opportunities that have not yet been explored, so we invite Emirati investors To visit Poland, and we look forward to their substantial contribution to current and future projects.We are also pleased with the partnerships made by Polish institutions, including the “Polish Development Fund”, “National Development Bank” and “Polish Agency for Trade and Investment”, with their Emirati counterparts, led by the “Council of UAE to investors abroad, and we affirm our continued support for these partnerships.”
For her part, Her Excellency Dr. Iman Ahmed Al Salami, UAE Ambassador to the Republic of Poland, stressed that the Emirati-Polish relations are characterized by a deep vision and friendship, and are based on a spirit of understanding, mutual respect and a common desire to develop these relations to broader horizons of bilateral cooperation in various fields. Several trade agreements, which would expand the areas of economic and trade cooperation and stimulate mutual investments. Poland’s participation in “Expo 2020 Dubai” represented a strong message confirming the strength and solidity of the close cooperation between the two friendly countries.
She added, “The third meeting of the UAE-Polish Joint Economic Committee aims to enhance cooperation in a number of promising sectors, most notably food security, renewable energy, artificial intelligence, financial technology and industrialization, increasing the volume of mutual investments, and creating new trade and investment partnerships during the next stage, to serve the common interests of the two countries.” .
His Excellency Rashid Abdul Karim Al Balushi, Undersecretary of the Department of Economic Development in Abu Dhabi, said, “The agreement on the economic cooperation program is the culmination of the strong relations with Poland, and represents the inauguration of a new phase of cooperation in multiple fields, and we invite investors and entrepreneurs to take advantage of the wide opportunities offered by the program in the business environment. appropriate for the growth and prosperity of investments in the two countries.
He added, “The Emirate of Abu Dhabi has established a supportive economic environment, achieved world-class infrastructure and communications, and is distinguished by a vision and approach to entrepreneurship to provide growth opportunities for investors, which has contributed to strengthening its position as a preferred destination for business and investments,” noting that the sectors focused on the cooperation program include areas characterized by opportunities Higher growth such as the priority sectors that Abu Dhabi is investing in to support business, expansion and growth including agricultural technology, financial technology, healthcare, pharmaceutical industry, energy, tourism, and information technology.
The total direct Emirati investments in Poland amounted to about 736 million dirhams ($208 million), and these investments are focused on the sectors of aviation, tourism, electronics, cars, food industries, science and technology, while the total direct Polish investments in the UAE amounted to about 345 million dirhams ($94 million). These investments are real estate, technology, science and technology and retail sectors.
During the committee, the two parties agreed on the importance of continuing joint efforts to explore more opportunities for economic cooperation in the priority sectors at the governmental and private levels, and to provide all means of support to exporters and importers to facilitate and increase the exchange of goods and services, work to diversify them, discuss promising investment opportunities and open new channels of communication between investors. And companies on both sides, thus contributing to pushing the two countries’ economies forward and consolidating the strength and durability of bilateral relations.
The two parties also agreed to enhance joint cooperation and mutual investments in the energy and renewable energy sector, and to develop partnership between oil and gas companies in the two countries to develop joint projects in the field of hydrocarbon energy. The two parties also affirmed their keenness to develop joint investment and exchange of knowledge in the field of renewable energy, as the Masdar Company expressed its interest in increasing its investments in wind energy projects in Poland.
The two parties agreed to provide programs and facilities that will accelerate the growth of emerging companies in the markets of the two countries, increase their investments and support their exports to reach new markets, in addition to encouraging owners of small and medium enterprises and entrepreneurs to invest in the sectors of the new economy, which contributes to supporting an increase in the contribution of the enterprise and medium sector. in the GDP of the two countries.
The two parties expressed great interest in enhancing joint cooperation in the field of food security and agriculture by increasing trade exchange in food commodities, agricultural products, livestock and live animals during the next stage, especially since Poland is one of the largest meat-producing countries in Europe.
The two parties also agreed to prepare new development programs that enhance the protection of the environment, natural reserves and biodiversity, exchange experiences and knowledge in the waste recycling industry, and work to take practical steps to provide opportunities for cooperation and joint investment for Emirati and Polish companies.
The two parties expressed their desire to hold joint tourism exhibitions, events and conferences during the next phase that would promote the most prominent historical and tourist attractions in the two countries, and support benefiting from the possibilities and ingredients for the tourism diversity owned by the UAE and Poland to attract more tourist delegations from all over the world.
The two parties also expressed their great interest in exchanging experiences in the educational sector, encouraging students and scholars to join educational institutions and universities in the two countries, and enhancing joint digital and technological cooperation in the areas of knowledge, innovation, technology and digital transformation, through the development and establishment of joint projects in these areas, as it was proposed to launch the first joint business incubator. Specializing in the video game industry, in addition to exchanging the best global experiences and practices in the field of artificial intelligence, in order to support the two countries’ plans to transform towards an economy based on knowledge and innovation.
The two parties were keen to support joint cooperation between the maritime transport institutions and authorities in the two countries, and to increase foreign direct investments in the infrastructure of seaports, marine technology and shipbuilding. The two sides also agreed to establish commercial projects for the land transport sector, and to enhance the benefit of the agreements signed between the two countries in the air transport sector. .
The two parties agreed to provide a set of training courses for individuals and Polish technology companies working in the space field, and to explore new opportunities that enhance mutual investments between Emirati and Polish companies in the space sector.