Poland-Egypt Trade Exchange targets US$1 billion at 2016-end

The trade volume between Egypt and Poland is currently estimated at US$400 billion, according to the Commercial Minister Plenipotentiary Galal al-Sawy, head of the European Union Department at the Egyptian Commercial Representation Body.

It is aimed to reach US$1 billion worth of trade by 2016.

He added that the intra-regional trade reaching this figure could be achieved through the mutual visits by business missions from the two countries, as well as the contracts that had been signed over the past few months. He also said a high percentage of Egyptian exports reach Poland through Germany, Italy and Slovenia.

Egyptian exports to Poland, according to al-Sawy, reached US$137.5 million in 2014, marking a US$7.5 million increase compared to the targeted rate, while the rate of Polish exports to Egypt recorded US$278 million, compared to US$275 million in 2013.

The remarks were made during the opening of the Egyptian-Polish business forum, attended by the Egyptian Businessmen’s Association (EBA), Polish Deputy Minister of Economy Andrzej Dycha, and the Polish delegation which took part in the Egypt Economic Development Conference that concluded on Sunday in Sharm El-Sheikh.

Dycha said EEDC was an important step on Egypt’s economic development path, adding that his country is interested on boosting bilateral economic ties.

Poland, according to Dycha, supports economic growth in many Arab countries through investing in their markets, and is interested in increasing the trade exchange.

Meanwhile, Polish Ambassador to Egypt, Michał Murkocinski stressed the importance of the EEDC, saying it was an opportunity to discover that cooperation with Egypt is possible in several fields. The Vice President of the Polish Chamber of Commerce, Andrzej Donocik, mentioned the food sector, transportation, energy and electronic industries as areas of possible cooperation.