Poland partners Lankan energy, ICT

Deputy Minister of Foreign Affairs of Poland Leszek Soczewica (third from right at left side of table) meets Minister of Industry and Commerce Rishad Bathiudeen (at right) at the Ministry of Industry and Commerce

The largest economy in Central Europe and one of the top global growth markets of this year has signalled its intention to partner with Lankan energy and ICT sectors. Both countries now aim to increase bilateral trade to $ 100 m. 

“We are in Sri Lanka due to the decision and realisation that it is wiser for us to go beyond EU for global partnerships. Poland believes there is big potential for bilateral trade cooperation with Sri Lanka,” said Deputy Minister of Foreign Affairs of Poland Leszek Soczewica in Colombo.

Soczewica revealed this during an official meeting with his delegation with Industry and Commerce Minister Rishad Bathiudeen. Also present was Industry and Commerce Ministry Secretary T.M.K.B. Tennakoon. 

Poland is the largest economy in Central Europe and one of the top global growth markets for 2015, being ranked 17th in this year’s All-Stars Global Economy Survey.

Soczewica added: “We came here for wider and deeper cooperation. We are very interested in the progress of our bilateral economic cooperation. Bilateral trade between Poland and Sri Lanka has great potential to grow above the $ 100 m mark. Let us try to fulfil this target. We are the sixth economy within the EU. We will try to pragmatically build upon our traditional trade relations. The agreements we signed today with Sri Lanka on Avoidance of Double Taxation and Tourism Cooperation are two steps in this direction. Poland believes there is big potential for bilateral trade cooperation with Sri Lanka.” 

“We warmly welcome the second Ministerial level Polish delegation to arrive here in recent times,” responded Bathiudeen. “Total trade between Sri Lanka and Poland is around $ 70 m in 2014. We also believe that bilateral trade could grow beyond the $ 100 m mark and it is time our businesses link to each other. Poland is also a traditional buyer of Ceylon Tea. We encourage Polish importers to buy tea directly from Sri Lanka. Our Government is planning major economic and energy developments in the coming years.”

The main export item from Sri Lanka to Poland in 2014 has been apparel, representing 22% of Sri Lanka’s total exports to Poland, followed by Ceylon Tea. Synthetic rubber and malt have been Sri Lanka’s leading imports from Poland.

Soczewica said: “Large-scale industrial energy generation cooperation is one of the promising sectors of partnership with Sri Lanka that we are looking at. Poland’s energy sector is very strong and we heard of Sri Lanka’s plans to strengthen power sector in the coming decade. Poland has windmill and solar power generation farms and state owned energy firms such as Polska Grupa Energetyczna play a great role in the sector and we can facilitate their delegations to Sri Lanka to partner in your sustainable energy plans. We are also good in IT. We are a major European IT hub and are the second biggest IT services centre in Central-Eastern Europe. Lankan ICT/PBO firms can partner with our IT Sector. In fact, some of Polish IT operations are owned by top global firms such as Microsoft, Oracle, IBM and Google and they could open new doors for Lankan ICT firms.” 

“We warmly welcome the Polish ICT and power sectors to partner with us and enhance our sustainable economic development initiatives,” responded Bathiudeen. “There are many opportunities for the Polish investors for trade and investment in Sri Lanka through the Indo-Sri Lanka Free Trade Agreement and Pakistan-Sri Lanka Free Trade Agreement. We stand to benefit from tech transfer as well as efficient coal usage methods from Poland.”

Poland is considered to possess the 13th largest hard coal and lignite coal deposits in the world.