Poland, Sri Lanka join hands to promote biz, investment

By Shannine Daniel

Poland Deputy Foreign Minister Leszek Soczewica recently stated that Poland and Sri Lanka would be able to greatly assist each other in business and economic matters. 

He spoke highly of Sri Lanka’s economic potential, stating: “The Sri Lankan economy has been growing at a rate of 7.4% per year within the last five years, and it is one of the best results in South Asia.”

“With the opening of this chapter we truly believe that the economists of a different geographic region have a lot to offer,” he assured at the Sri Lanka-Poland Business Council forum was held on Tuesday (6) in Colombo.

One of the main objectives of the forum was to encourage the economic relationship between Poland and Sri Lanka. 

He added that he was personally very glad to be part of this business mission which was the first in many years.

“Poland’s economy grows steadily,” he admitted. It is at present the sixth largest economy in the European region and plays an eminent role in the economy. 

Considering the trade situation between Sri Lanka and Poland Ceylon Chamber of Commerce Chairman (CCC) Samantha Ranatunga said the trade Exports from Sri Lanka to Poland had increased by $ 47 million in the year 2013 to $53 million in 2014, while on the other hand imports from Poland to Sri Lanka had increased by $13 million in 2013 to $18 million in 2014. 

The vast quantity of exports has been distributed with a balance of trade in favour of Sri Lanka. The main items of exports from Sri Lanka were tea, spices, garments and other products. 

He said that Ceylon Tea was widely known in Poland with promising capacity for increased growth, while on the other hand investigation by the Polish business community towards other agricultural goods generated within Sri Lanka was encouraged.

This was mainly due to the fact that Poland enjoys a strong position in the European economy, at present and also due to the daily increase in the buying capacity that offers Sri Lanka a chance to boost its growth in the agricultural sector. 

Sri Lanka imports products such as paper, paper board, machinery, agricultural equipment, electrical equipment and steel from Poland. 

Commenting on the tourism sector, Ranatunga asserted: “We are seeing a remarkable growth of 38%, of course from a fairly small view of about nine thousand to thirteen thousand tourist arrivals we have had in the year 2014.”  

He also announced: “The CCC and the Sri Lanka-Poland Business Council continue to maintain a close relationship with the Embassy of Poland in New Delhi and is always on the lookout for new opportunities and trade fairs in Poland so that our members could develop and expand our trade contacts as we go on.”  

Speaking about the economic importance of Poland, Former Consul General for Poland in Sri Lanka Ken Balendra stated: “The Polish economy is the best performing economy in Europe after Germany.” 

He further stated that it is a “super country to invest in” and strongly recommended a further investigation of Poland’s economic resources due to its strong potential for investment. 

This forum was a gathering of mutually-interested business communities, who would then consider binding the trade portfolio which could pave the way for a stronger economic bond between the two countries. 

Further on another noteworthy element of the agenda was the appointment of the succeeding Consul General for Poland in Sri Lanka, Krishan Balendra.