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  • Faithful to my Homeland, the Republic of Poland

     

  • POLISH-CANADIAN ECONOMIC RELATIONS

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    POLISH-CANADIAN MERCHANDISE TRADE

    Poland is the biggest Canadian trade partner in Central and Eastern Europe.

    Trade turnover in 2010 between Canada and Poland reached its record value, amounting to CAD 1,162 mln. Polish exports to Canada amounted to CAD 992.5 mln, while Polish imports from Canada (including Canadian reexports) were valued at CAD 219.7 mln.

    The most important groups of products of Polish exports were: parts and components for aerospace industry, silver, fur skins, machinery, wooden furniture and its elements, electrical machinery, agriculture and food products.

    The top groups in Polish imports from Canada were: airplanes and helicopters, parts and components for aerospace industry, power and electrical equipment, machinery, aluminum, agriculture products.

    Canadian companies interested in establishing contacts with Polish companies or searching for products manufactured in Poland are invited to contact with the Trade and Investment Promotion Section of the Consulate General of Poland in Montreal (http://www.montreal.trade.gov.pl/). While seated in Montreal, the organization acts on the whole territory of Canada, helping the potential importers in Canada to find Polish suppliers able to satisfy their needs.

    MUTUAL FOREIGN INVESTMENTS

     

    Canadian cumulative direct investment in Poland reached nearly CAD 440 million in 2009.

    One of the most important factors in attracting Canadian investment to Poland is a well developing and crisis-resistant Polish economy (GDP growth: +5% in 2008, +1.8% in 2009, 4% in 2010). The European Commission's forecast of GDP growth for Poland for 2011 is 4.1%, one of the highest in the European Union.

    The biggest and the best known Canadian investors to Poland are companies such as:  Pratt&Whitney Canada, Bombardier Transportation, Wentworth Technologies Co. Ltd., Coltec Aerospace Canada Ltd. and Magna International Inc.

    In order to encourage and provide assistance to new investors, the Polish Ministry of Economy created "The Network of Investors and Exporters Services Centres (COIE)" (http://www.trade.gov.pl/). The aim of the project is to increase the level of foreign investment in Poland by facilitating the access of potential foreign investors to information on regulations, starting a business in Poland and support instruments for the development of entrepreneurship, including investment incentives. The essential support for COIE is provided by Trade and Investment Promotion Sections of Embassies and Consulates of the Republic of Poland (WPHI), which have a wide and up-to-date knowledge on entry barriers and business conditions in particular foreign markets. Canadian companies searching for more information on investment opportunities in Poland are invited to contact the Trade and Investment Promotion Section of the Consulate General Republic of Poland in Montreal (http://www.montreal.trade.gov.pl/).

    Other organizations providing support for the potential investors:

    According to the National Bank of Poland's statistical data, inflow of the Polish foreign investments to Canada in 2007 amounted to 3 million EUR (1.4 million EUR in 2006). Preliminary Canadian statistical data show that at the end of 2007, the Polish FDI in Canada amounted to 11 million CAD.

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