WARSAW: Hundreds of business leaders from Saudi Arabia and Poland gathered in Warsaw on Tuesday for the largest-ever Saudi-Polish Business Forum, highlighting the growing economic ties between the Kingdom and Central and Eastern Europe.
The forum was organized by the Federation of Saudi Chambers and the Polish Chamber of Commerce under the patronage of the Polish Ministry of Economic Development and Technology.
A Saudi delegation of more than 80 business leaders led by Hassan Al-Huwaizi, chairman of the federation, arrived in Warsaw on Monday to attend the forum and meet the top Polish leadership, including Deputy Prime Minister Krzysztof Gawkowski, and ministers of several key resorts.
They represented various branches of the Saudi economy, bringing bilateral trade exchanges beyond the sector of energy, which has traditionally dominated the ties.
“What makes this forum different is that it has many businesspeople from all economic sectors,” Saudi Ambassador Saad Al-Saleh told Arab News.
“This is actually a new thing. We believe that there are many opportunities in Poland and in Saudi Arabia, and visits like this and the forum are going to help discover these opportunities.”
The ambassador said the forum was also a part of efforts to increase relations not only with Poland — the largest economy in Central and Eastern Europe — but also the whole region.
“Everyone, when they knew about the forum, wanted to participate … from the Saudi side and from the Polish side. That shows the importance of this forum, and it will also transfer what is happening here to the rest of European countries,” he said, adding that after the Warsaw event, the Saudi delegation will travel to neighboring Slovakia for the Saudi-Slovak Business Forum in Bratislava.
The Saudi-Polish Business Council was established in August this year to boost investment between the two countries under the Kingdom’s broader strategy to deepen economic ties with Europe.
Andrzej Szumowski, the council’s chairman and vice president of the Polish Chamber of Commerce, told Arab News that it was “impossible to overestimate” the importance of the Warsaw event.
“It is an extremely crucial step in building economic relations, and it marks the beginning of full-scale relations between our two countries — social, cultural, intellectual, scientific — but everything starts with business,” he said.
“The exchange between our countries, the trade balance, is far from satisfactory. There’s about $7 billion in exports from Saudi Arabia to Poland, and $900 million in Polish exports to Saudi Arabia. I am deeply convinced that today’s meeting, which has exceeded my expectations in terms of interest from Polish companies, shows how much appeal the Saudi market has, and how much Polish companies are looking forward to the potential for exchange.”
More than 300 Polish companies participated in the business forum, with many more expressing interest, Szumowski said, but the organizers had to limit the number due to space constraints.
The key sectors of the Saudi economy that Polish businesses are currently focusing on include construction, new technologies, agriculture, tourism, education, and manufacturing.
Polish-Saudi business relations were established in the 1990s, but bilateral ties have grown significantly in recent years, with Saudi Arabia emerging as Poland’s key strategic energy partner, supplying half of its crude oil needs.
“We are trying to develop these relations also in other sectors and for the trade to be more balanced,” said Krzysztof Plominski, vice chair of the business council and former ambassador to the Kingdom.
“Both countries are in the process of getting to know each other and building institutional solutions. A very important step was the launch of direct flights to Riyadh by Polish Airlines.”
Poland’s national flag carrier opened the Riyadh route in June, operating nonstop flights three times a week, which also contributed to growing interest in Saudi Arabia from the Polish side and vice versa.
“The current delegation organized by the Federation of Saudi Chambers comes in response to this new demand and in line with the expectations of the highest authorities of both countries,” Plominski said.
“It provides an opportunity for the business community to discuss the current situation and future plans.”
