Imagine a dynamic partnership that promises to elevate economic exchanges between Saudi Arabia and one of Europe’s most robust economies—Poland. With the establishment of a new joint business council for the term 2024-2028, both nations are poised to witness a surge in trade and investment opportunities.
The formation of the Saudi-Polish Business Council marks a significant milestone in Saudi Arabia’s strategic efforts to strengthen its economic ties with Europe. Spearheaded by the General Authority for Foreign Trade, the council has appointed Abdullah bin Mohammed Abu Dubeil as the chairman and head of the executive committee. Supporting him are vice chairmen Fares bin Hazem Zaqzouq and Musab bin Ahmed Al-Mazeed, who will play pivotal roles in steering this promising collaboration.
Unlocking New Economic Potential
This council is a testament to Saudi Arabia’s commitment to deepening its economic engagements with Europe, focusing particularly on Poland—a nation that boasts one of the continent’s largest and most dynamic economies. In a striking display of growth, Poland’s agri-food sector achieved record exports of €47.9 billion ($51.1 billion) in 2023, marking a substantial €10 billion increase from the previous year.
In the same year, the trade volume between Saudi Arabia and Poland reached approximately $9 billion. Saudi Arabia’s exports to Poland are primarily centered around mineral products and plastics, while Poland exports tobacco, manufactured tobacco substitutes, machinery, and mechanical appliances to the Kingdom.
Strengthening Bilateral Ties
The Saudi-Polish Business Council is more than just a platform for dialogue; it is a catalyst for expanding trade and investment between these two nations. The council aims to foster closer cooperation between businesses in both countries, ensuring mutual growth and prosperity. This initiative is part of a broader effort by Saudi Arabia’s General Authority for Foreign Trade, which oversees 46 bilateral and regional business councils dedicated to fortifying international economic partnerships.
As Saudi Arabia continues to open its doors to global investors, the alliance with Poland stands as a shining example of the Kingdom’s vision for a prosperous and interconnected future. This is an invitation for investors and businesses worldwide to explore the untapped potential and be part of this exciting journey.
