Poland: Polish-Chinese trade looking up?

Poland could increase exports to China and be a major beneficiary of that country's investments, according to the head of Poland's foreign investment agency.

Poland currently has a significant trade deficit with China, with Polish exports to the Asian country amounting to 2.1 billion US dollars in 2013, while Chinese exports to Poland stood at 19 billion dollars.

The disparity is already decreasing, Sławomir Majman, head of the Polish Information and Foreign Investment Agency (PAIiIZ) told the Polish Press Agency.

“In the first quarter of this year, we observed a three-percent growth in Polish exports,” he said.

Majman stressed that equal values are out of reach, but it would be satisfactory if Polish exports rose to one sixth or one fifth of what China sells to Poland, rather than one tenth.

In his opinion, Polish exports have the potential to grow, especially those in the food sector, such as milk, dairy products and meat.

Poland does have to overcome an obstacle in one of these spheres. In February this year, China introduced an embargo on Polish pork after cases of African Swine Fever were recorded in Poland. Majman said he is counting on a positive outcome of bilateral talks.

The head of PAIiIZ also expects an increase in Polish-Chinese business relations in general. Over the past year or so, some 120 Chinese business delegations have visited Poland and more visits are expected later this year.

“We are encouraging Chinese companies to invest in Poland in areas such as IT and telecommunications, research and development, car parts manufacturing and food processing,” Majman said.

“The Chinese are strongly interested in the Polish energy sector. But I think that the future of Chinese capital in Poland lies in machinery manufacturing and IT,” he added.