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British Polish trade surges ahead in 2008 - Strong platform for future growth |
In a stormy market British Polish trade demonstrated an excellent performance in 2008 with total bilateral trade achieving a record of £7 billion. British exports to Poland grew by 24%, achieving just shy of £3 billion and Polish trade to the UK leapt by 15% to £4.2 billion off a larger base. Strong performers from UK to Poland were food, 48% growth and chemicals/pharmaceuticals - over 35% growth. Poland demonstrated assertive performance in chemicals/pharmaceuticals, 51% and transport - cars 31% and buses over 70%.
Highlights
• Strong growth in British exports to Poland; Poland shoots up the ranks in attractiveness in British trade from 26 to 17 since accession to Europe in 2004 – excellent potential for future growth
• Polish exports to UK grow apace: largest ever peacetime migration acts as springboard for strong sales growth
• Distribution networks spread in UK providing broader access to Polish food and drink – attractive base of 1.2m consumers act as ambassadors for quality Polish food
• Infrastructure, hi tech and regional manufacturing provide attractive future market opportunities for British companies in Poland
• Newly established funds for much awaited Polish “Passport to Export” scheme crucial for development of sustainable international trade for Polish enterprises
• Leadership required to build on solid trade base to charter through economic downturn; fundamentals strong |
Poland’s economic fundamentals are strong and the country offers attractive growth opportunity compared with Europe’s established markets. Relatively unexploited by British mid caps Poland has joined the UK’s top 20 club and vies with China, Russia, India and Japan for position. Meanwhile the UK is in Poland’s top 5 and with a push can take over 2nd slot from France and Italy. SME’s from the latter have a strong presence in Poland whilst the UK is significantly under-represented here.
What is the outlook for 2009? Martin Oxley, BPCC, CEO takes an upbeat stance: “Undoubtedly 2009 is going to be a challenging year. The fundamentals are however strong – the British Polish relationship is developing well; both countries share the same entrepreneurial roots. Poland needs to expedite its export support programmes and economic reforms to make it much easier to do business. The UK mid caps and SME’s need to have more confidence in targeting one of Europe’s highest potential markets. With appropriate leadership and communication of opportunity the British Polish relationship has significant potential to grow in 2009. Our members who represent 540 companies or 25% of the total FDI in Poland are looking for a better business environment, measures to improve liquidity and a framework of support which makes it easier to do business. We have dedicated our 2009 Annual Conference to that and intend to address the top issues with government.”
For further information:
Michael Dembinski
British Polish Chamber of Commerce
tel: +48 (0)22 320 0105 / +48 (0)606 969 200
email:
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Press materials in Polish
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Puls Biznesu (03-03-2009)
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Gazeta Finansowa (06-03-2009)
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Agro Trendy (10-03-2009)
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Gazeta Wyborcza (17-03-2009)
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Internet Coverage
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