They sell us oil, they love our cows, but there are more business opportunities there
- In trade with Saudi Arabia, Poland has a clear deficit. Could the transformation of the Saudi economy become a chance to change this state of affairs?
- – The energy sector is of key importance in our cooperation, but there are many other sectors where we can conduct good trade – declares Saad Saleh Alsaleh, Ambassador of the Kingdom of Saudi Arabia to Poland.
- - This is a very promising market. 70% of Saudis are young people, between 30 and 35 years of age. If we start cooperation, we will be able to continue it for many years - points out Robert Rostek, the Polish ambassador to the Kingdom of Saudi Arabia.
For Poland, Saudi Arabia is primarily an oil producer - after cutting off supplies from Russia, our country is currently the most important recipient of Saudi oil in the European Union (in the fourth quarter of last year, 60 percent of all supplies of this raw material to Poland came from this Arab country). We do not have such an ace up our sleeve, although Polish hits in Saudi remain fudge candies (at the end of the last decade, the Wawel company sent about 26 tons of these sweets every year), and Zakopane is becoming increasingly popular among local tourists. This disproportion is best shown by the numbers - imports from Saudi Arabia to Poland in 2023-2024 increased from 7.6 billion dollars to over 8.5 billion dollars , while Polish exports to this country fell from over 900 million dollars to over 800 million dollars.
– The export surplus from Saudi Arabia to Poland is maintained and this is something that is difficult for us to accept – says Maciej Srebro, director of the Export Support Department at the Polish Investment and Trade Agency.
The question is how this state of affairs can be changed. Participants in the "Economic Cooperation Forum: Saudi Arabia" held during the European Economic Congress had no doubt that there are many areas for strengthening Polish-Saudi economic relations. Sara Al Sayed, Deputy Minister for International Relations at the Ministry of Investment of Saudi Arabia, drew attention in this context to the Saudi Vision 2030 project announced in the past decade, which assumes the diversification of the local economy in order to make it independent from the sale of raw materials.
– The energy sector is of key importance in our cooperation, but there are many other sectors where we can conduct good trade: technology, artificial intelligence, food safety, tourism – lists Saad Saleh Alsaleh, ambassador of the Kingdom of Saudi Arabia to Poland, and Deputy Minister Al Sayed also draws attention to the fashion and furniture industry, as well as telecommunications. The topic of the defense industry also appears in the talks.
- At the moment we have 22 investment licenses issued to Polish investors, but it is not enough , we want to have as many as possible. Polish companies have a great opportunity to enter the Saudi Arabian market, we have created special economic zones to help investors in our country. We will expand them - declares Deputy Minister Sara Al Sayed.
In less than a decade, in 2034, Saudi Arabia will host the FIFA World Cup and the international Expo . For the hosts, it will be an opportunity to show themselves as a modern country with a modern economy. And big events mean big investments. It remains an open question who will benefit from this and whether Polish entrepreneurs will be among them.
– Almost every day, Polish companies contact us, asking many questions about cooperation with companies from Saudi Arabia. This is a very promising market. 70% of Saudis are young people, between 30 and 35 years of age. If we start cooperation, we will be able to continue it for many years – points out Robert Rostek, the Polish ambassador to the Kingdom of Saudi Arabia. However, he warns Polish companies not to expect results "immediately" when trying to enter the Saudi market.
- Polish companies spend a few weeks or a month in the Gulf countries and if they do not manage to find a partner during that time, they withdraw from this market. Meanwhile, this is not a market where business can be carried out overnight . To carry out business in Saudi Arabia, or in the Persian Gulf countries in general, you need to spend time learning the right behaviors and finding the right partner. You need to focus on this market in the long term - suggests Robert Rostek.
– It is important to organize bilateral meetings, economic forums, so that we give representatives of companies from Saudi Arabia and Poland a chance to get to know each other, talk to each other – advises Ambassador Saad Saleh Alsaleh.
Both sides compliment each other. The Polish side emphasizes the Saudis' openness to foreign investments and points to the growing number of companies that want to open their representative offices in Riyadh, while the Saudis reciprocate by pointing to the strength of the Polish economy in the context of the entire European Union and the convenient location of our country.
– We have a permanent representative in Poland . A year ago we created a special project that aims to create a network of sales representatives by 2030 – emphasizes Deputy Minister Sara Al Sayed.
Polish entrepreneurs in Saudi Arabia are to be supported by the Riyadh-based office of the Polish Investment and Trade Agency . At the end of April, during the EEC, Maciej Srebro announced that "in a month" the managing director will appear in this office.
– It will be a well-functioning office with staff well-prepared for their work – he promised.
See the report from the debate "Economic Cooperation Forum: Saudi Arabia" at the 17th European Economic Congress in Katowice:
It starts with tourists, and entrepreneurs will followIn parallel to business ties, both countries are developing educational relations (last year , over 1,000 students from Saudi Arabia graduated from Polish universities, mainly medical ones ), and especially tourist ones. This is facilitated by the fact that LOT Polish Airlines has a direct connection from Riyadh to Warsaw . Low-cost connections from Riyadh to Krakow are also to be launched soon .
- For Saudis, Poland is not particularly expensive. We are tourists who have great opportunities in terms of the funds at our disposal - points out Ambassador Saad Saleh Alsaleh.
– In my opinion, tourism will be an important area in terms of developing our further relations. We start with tourists who come to look around our countries, but then more and more entrepreneurs who are interested in investing follow – he adds.
– The second largest group of passengers are those who come regularly because they do business here – confirms Ambassador Robert Rostek.
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