Poland, a viable market for Lanka's exports, services

Lalin FERNANDOPULLE

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Poland is a viable market for Sri Lanka's exports, services and tourism although growth is expected to slow down due to the global crisis, said the Consul General for Poland, Ken Balendra.

He was addressing a seminar on `Sri Lanka-Poland Trade Cooperation' organised by the Sri Lanka-Poland Business Council in partnership with the Embassy of Poland New Delhi on Wednesday.

Poland's accession to the European Union (EU) has increased its attractiveness as a trading partner with its strategic location providing easy access to the EU and East European markets.

The Polish economy is booming with improvement in real wages and income of Poles resulting in greater purchasing power. Growth has averaged around 5 per cent, with 2007 recording a 6.6 per cent growth. The forecast for this year is lower at 5.3 per cent.

Sri Lanka's trade with Poland last year was encouraging. Exports and imports recorded growth with exports increasing by 12.8 per cent over the previous year to Rs. 3.7 billion and imports from Poland showing a year on year increase of 49.3 per cent to Rs. 2.6 billion. Balendra said the exposure that has been given by CNN's 'Eye on Poland' programs and the focus during the forthcoming Poland Days will encourage businesses in Sri Lanka to consider Poland a hub for trade and investment. Poland is making great strides in the world arena. Hosting the 2012 European Cup for football will attract millions of soccer fans to Poland. Poland is preparing for the event by building large stadiums in addition to vast improvements to infrastructure.

Poland which consumes around 25,000 Mt of tea an year is the second largest tea consumer in Europe.It is also the third largest importer of tea in the EU with a per capita consumption of 750 grams per year.

Sri Lanka is one of the major suppliers of tea to Poland along with Kenya, India, China, Indonesia and Vietnam.Around 3,247 Mt of tea was exported to Poland last year. In addition to tea Sri Lanka exports coffee, spices, rubber, apparel, woven fabrics, yarn, precious stones, paper and vegetables.

Head of Trade and Investment Embassy of Poland, New Delhi Dariusz Karwowski said according to a recent survey Poland is among the top ten most attractive countries for investment in 2008.

Poland offers 20 million entrepreneurial and multilingual young people and the largest number of jobs was created this year.

Sri Lanka Poland diplomatic relations began in 1957 during the premiership of S.W.R.D. Bandaranaike.