Poland-Pakistan Bilateral Trade Exceeds $920 Million: Polish Ambassador

The Ambassador of Republic of Poland Maciej Pisarski, Wednesday informed that the overall trade volume between Poland and Pakistan has surpassed US$920 million owing to GSP Plus arrangement allowing duty free access of Pakistani goods to Polish Markets

KARACHI, (UrduPoint / Pakistan Point News - 22nd May, 2024) The Ambassador of Republic of Poland Maciej Pisarski, Wednesday informed that the overall trade volume between Poland and Pakistan has surpassed US$920 million owing to GSP Plus arrangement allowing duty free access of Pakistani goods to Polish Markets.

Polish Envoy, who led a high-level trade delegation from Poland during its visit to the Karachi Chamber of Commerce and Industry (KCCI) informed that Pakistan exported goods worth $800 million whereas Poland’s exports to

Pakistan stood at US$128 million last year, said a statement issued here.

Poland and Pakistan have been enjoying 62 years of fruitful and collaborative relationships based on mutual interest and respect which have grown to a point where there was definitely a great potential to expand these relationships.

“Keeping in view the enormity of potential, we would like to approach this existing potential by doing what we are doing today i.e. bringing the Polish business people to Pakistan, introducing them to Pakistani potential partners and let them explore Pakistan in terms of future partnerships, besides helping them gain firsthand experience,” he stated.

Polish Ambassador further stated that Karachi has a very special place on the map of Polish memory as Karachi was a place where thousands of refugees found shelter during the World War II. “During all these years, we have forged very strong people-to-people connections even before the commencement of diplomatic ties between the two countries”, he added.

Highlighting the fast paced growth of $1.4 trillion Polish economy, he informed that the sixth largest EU economy have been “the fastest growing economy in the European Union and since 1990, Polish economy has grown by 900 percent. This year, Polish imports and exports stood at around US$700 billion.”

Earlier, President KCCI Iftikhar Ahmed Sheikh, while warmly welcoming Polish trade delegation, underscored the need to expand trade, investment, economic, cultural, and people-to-people relations to fully realize the benefits of partnership between the two countries.

“Pakistan's strong textile manufacturing capabilities encompass yarn production, fabric weaving, and garment production. With high demand in Poland's market, there are significant investment opportunities for Polish firms to establish textile manufacturing units or form partnerships with existing Pakistani manufacturers, leveraging both nations' business and labor forces”, he suggested.

He highlighted incentives for foreign investment being offered by Pakistan along with streamlined regulatory processes and said “Polish firms can explore opportunities in textiles, agriculture, and tourism, besides showcasing their potential in machinery, electricity, ferrous metals, motor vehicles, paper products, chemicals, processed food, beauty products and oil seeds to Pakistani investors.

He stressed on the need of promoting collaboration in education and technology; hosting a series of trade events like exhibitions, trade fairs, and networking sessions to pave the way for new opportunities.

He was of the opinion that developing a joint digital platform by the chambers of commerce of both countries can significantly streamline trade and investment promotion by offering comprehensive services including market intelligence, legal advisory and business matchmaking.

Honorary Consul General of Poland in Karachi Mirza Omair Baig, Senior Vice President KCCI Altaf A. Ghaffar, Vice President Tanveer Ahmed Barry, Former President Majyd Aziz, Chairman Diplomatic Missions and Embassies Liaison Subcommittee Farooq Afzal along with KCCI Managing Committee Members were also present on the occasion.