Poland ideal for Lankan entrepreneurs

The distance and lack of awareness on opportunities for business in Poland are some of the issues that need to be addressed. Poland is an ideal place for Sri Lankan entrepreneurs to set up businesses and enhance trade with the European Union, said Commercial Counsellor - Head of Trade and Investment Promotion, Embassy of the Republic of Poland in New Delhi, Dariusz Karwowski.

He was addressing a seminar on ‘Business Opportunities in the Emerging Economies in the EU’ organised by the Sri Lanka-Poland Business Council and the Ceylon Chamber of Commerce.

Karwowski said the security situation in Sri Lanka is one of the major drawbacks to promote trade with Poland, Sri Lanka is one of the major exporters of tea to Poland and account for over 50 per cent of the imports to the country.

Sri Lanka’s trade with Poland last year was over Rs. 6 million. While textiles, rubber products and ceramic items are exported, iron, steel and electrical machinery are imported from Poland.

“Sri Lanka has the potential to improve trade with the EU and the extension of the GSP plus concessions will not be an issue”, Karwowski said.

The EU consists of 27 member countries with a population of nearly half a billion.

The EU makes up a huge market for potential customers and suppliers for business in Sri Lanka. Exports to the EU have increased significantly since Sri Lanka became a beneficiary of the GSP Plus scheme.

A major share of Sri Lanka’s exports go to markets in Germany, France, UK and the Netherlands. Access to emerging markets in the EU has become easier with the common taxation policies adopted by member states.