Poland eyes Pakistan a potential market for business and investment

Islamabad: Pakistan and Poland should sign Memorandum of Understandings in the field of energy and other areas of interest to deepen and expand bilateral cooperation for mutual benefit of the two countries.

This was said by Mr. Tomasz Tomczykiewicz, Vice Minister and Secretary of State, Ministry of Commerce, Republic of Poland while addressing business community at Islamabad Chamber of Commerce & Industry.

He was leading a large delegation of Polish companies along with Dr. Andrzej Ananicz, Ambassador of Poland to Pakistan. The delegation was representing mining, oil & gas and power sectors.

The Polish Vice Minister said that Poland eyes great opportunities in the economy of Pakistan and the visit of Polish entrepreneurs to ICCI was aimed at interacting with Pakistani counterparts to find out business partnerships.

He said Poland intends to cooperate with Pakistan in energy, mining & coal sectors as it will be mutually beneficial and increase energy security of both countries. Polish investors are also taking keen interest in Special Economic Zones of Pakistan for joint ventures and investment.

He said the 6th European Economic Congress 2014 was scheduled in Poland in May 2014 and it would be an excellent platform for Pakistani businessmen to attend the event and explore business collaborations with European counterparts.

In his welcome address, Khalid Chaudhry, Acting President, Islamabad Chamber of Commerce & Industry said though the bilateral trade between Pakistan and Poland has reached US$ 235 million in 2012, however, there is lot more potential to increase two-way trade between the two countries.

He said the best way to improve bilateral trade is to facilitate the businessmen of two countries to exchange visits and explore all untapped areas for enhancing mutual collaboration.

He said Poland was very strong in mining and coal with advance technology and know-how while Pakistan was blessed with huge coal and mineral reserves along with about 5000 coal mines in the country.

Therefore, Polish companies should set up coal and mining equipment manufacturing facilities in Pakistan which will greatly help in exploiting these natural resources for economic benefit of both countries.

Khalid Chaudhry said the bright prospects of Pakistan’s profitable oil and gas sector has already attracted the attention of some Polish companies which are working on joint ventures in Pakistan and stressed that the economy of Pakistan on recovery mode and more Polish investors should explore Pakistan for business and investment.

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