Trade turnover with USA reaches record high in 2017

Poland's trade turnover with the USA reached a record USD 12.7 billion in 2017. This is a good time to strengthen relations and show how much we have to offer, Entrepreneurship Minister Jadwiga Emilewicz told PAP in an interview.

Minister Emilewicz was speaking ahead of an official visit to the US, starting Monday. She emphasised that last year's trade turnover represented a 22-percent increase on 2016 and was the result of favourable trends in Polish-US relations, as well as a strong and stable Polish economy. "This attractive investment climate is drawing the attention of foreign investors, including those from the USA," she stated.

"The value of American investment in Poland is estimated at close to USD 42 billion, which translates into over 220,000 jobs," the minister continued. "Polish entrepreneurs are also showing more interest in the American market. Currently, around 60 Polish firms are active in the States."

The entrepreneurship and technology minister went on to explain that her visit is aimed at strengthening Polish-US ties with a view to creating a strategic partnership, especially in the field of innovation. To this end, one important point on her visit is the Polish Chamber of Commerce established by Prime Minister Mateusz Morawiecki at the beginning of April. Visits are also planned at the Atlantic Council and Heritage Foundation.

The delegation visiting the US is headed by Deputy Prime Minister, Minister for Science and Higher Education Jaroslaw Gowin, since much of the visit will focus on innovation, and research and development (R&D).

"Significantly, an important point of our visit will be signing a bilateral contract on scientific-technical cooperation," Minister Emilewicz explained. "It will be a stimulus for common undertakings in this field. We not only have a strong economy, but above all, well educated people, capable students who win prestigious IT competitions, a whole segment of IT engineers of worldwide renown. This is our extremely valuable capital. The focus on R&D is particularly important for us, among other things in the context of strengthening innovation and our new investment policy," Emilewicz concluded.