Poland, growth and potential

In partnership with the Monegasque Embassy in Poland, Germany, and Austria and the Polish Chamber of Commerce, the Monaco Economic Board organised a Business Destination conference dedicated to Poland on Friday, June 28th, at Monacotech. This was a prelude to the trade mission planned from 30th September to 2nd October in Warsaw. The assets on show were sure to arouse the interest of the Monegasque entrepreneurs in attendance.

The conference occurred in a hybrid format, with some of the presentations made remotely. With Mr Franck Julien, Chairman of the National Council's Finance Committee, in attendance, Mr Guillaume Rose, Executive Director General of the MEB and Mr Alessandro Giuliani, Honorary Consul of Poland in Monaco, followed by the Embassy of Monaco in Berlin, introduced the event, recalling in particular the long-standing and essential links between the two countries.

Michal Krawczyk, Vice President of the Polish Chamber of Commerce, then mentioned the existence of a memorandum of understanding between the two chambers, signed in 2010. On the strength of this track record, Mr Krawczyk expressed his confidence, "convinced that the meetings to be held in the autumn between entrepreneurs from the two countries will lead to new collaborations because there is a huge potential."

To help member companies better appreciate the opportunities offered by the European Union's sixth-largest economy, a representative from the Ministry of Economic Development and Technology presented a portrait of the Polish economy. GDP growth has been very dynamic over the last twenty years (+209% since 1990), even though the country has been severely affected by inflation due to the war in Ukraine. But the country's ability to bounce back has never been denied, and growth forecasts predict a rise of +3% in 2024 and +4% in 2025. Finally, Poland benefits from its membership in the European Union and NATO, guaranteeing security and stability.

Sectors of activity likely to encourage trade between Poland and Monaco have already been identified, including yachting, the pharmaceutical and cosmetics industries, banking and insurance, luxury tourism and new technologies.

There are plenty of opportunities, and some conference participants have already expressed an interest in the MEB trade mission to Warsaw from 30th September to 2nd October. This bodes well for the trip's success.

Photo credits: MEB