UAE is Poland's largest Arab trading partner

posted on 17/06/2010: 730 views

The UAE has become Poland's largest trading partner in the Arab world, Roman Chalaczkiewicz, Polish Ambassador to the UAE, told Gulf News Wednesday.

About three to four years ago, Saudi Arabia occupied that position, he said in an interview.

Trade in 2008 stood at US$900 million (Dh3.3 billion), Chalaczkiewicz said. "About US$670 million was the value of exports from Poland to the UAE and US$230 million was exports from the UAE to Poland," he said.

Although a major trade partner, Poland does not purchase oil from the UAE, the ambassador said. "To avoid the transportation costs, we purchase oil from Russia and Norway because of their proximity," Chalaczkiewicz said.

Polish Minister of Treasury Alexander Grad visited the UAE last week and held talks with high ranking UAE officials.

He has invited the UAE to invest in the Polish energy sector as it undergoes privatisation.

Privatisation on track

About 70 per cent of the Polish economy has been privatised. The government plans to privatise 90 per cent by 2013, which offers many opportunities for foreign investors, Polish Ambassador said.

Poland's energy sector, the biggest in central Europe, is being privatised. About 90 per cent of the energy is produced from coal as the Poland is one of the largest producers in Europe. – Gulf News

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