UK firms plan to raise employment in Poland
Three out of four companies owned or co-owned by British investors are planning to increase employment and investment outlays in Poland, according to a report on Polish-UK economic relations, prepared by consulting firm Deloitte.
British companies employ nearly 115,000 people in Poland, the report shows.
"Since 1995, trade between Poland and the United Kingdom increased by nearly 500 percent and its structure includes an increasing share of highly-advanced goods and services," Deloitte said in a Wednesday statement that accompanied the report.
Poland's exports to the UK went up from below USD 1 bln in 1995 to USD 16.6 bln in 2018, according to the report. Polish imports from the UK increased from USD 1.5 bln to USD 6.5 bln over the same period.
UK companies invested PLN 48 bln (EUR 11 bln) in Poland until 2017, thanks to which Poland's GDP was higher by PLN 15 bln (EUR 3.44 bln) in 2017.
In the first quarter of 2019, the United Kingdom's share in Polish exports amounted to 6.6 percent and Britain remains one of Poland's key trade partners, the report observes.
In 2016, there were 387 non-financial British firms operating in Poland that employed at least 10 people, and their total employment was more than 110,000. British financial companies employ more than 4,000 people in the country.
"Poland is viewed positively (by British investors - PAP) due to the size of its economy and its growing integration with the global economy and the EU market, and owing to the accessibility of local suppliers of goods and services," Antoni F. Reczek, head of the British-Polish Chamber of Commerce, was quoted as saying in the report.
Companies with British capital "are planning to continue their development on the Polish market as, statistically, three out of four companies want to increase their employment and investment outlays," Reczek added.
The report, whose partners include the British Embassy in Warsaw and the British-Polish Chamber of Commerce, was created as part a programme marking the 100th anniversary of restoring diplomatic relations between Poland and the United Kingdom.