We use cookies to make sure our website better meets your expectations.
You can adjust your web browser's settings to stop accepting cookies. For further information, read our cookie policy.
IN Warsaw
Exchange Rates
Warsaw Stock Exchange - Indices
The Warsaw Voice » Business » September 30, 2009
You have to be logged in to use the ReadSpeaker utility and listen to a text. It's free-of-charge. Just log in to the site or register if you are not registered user yet.
Austrians Eye Expansion in Poland
September 30, 2009 By A.R.    
Article's tools:

A growing number of Austrian companies are interested in doing business in Poland, said politicians and economists taking part in the Polish-Austrian Economic Forum, a business event that accompanied a mid-September visit to Warsaw by Austrian President Heinz Fischer. A group of Austrian investors already with a presence in Poland attended the forum.

Speaking at the meeting, Fischer said that the main purpose of his visit was to encourage the two countries to step up bilateral trade and convince Polish and Austrian businesspeople that they should strengthen business ties.

Waldemar Pawlak, the Polish deputy prime minister and economy minister, said, "I am sure that prospects for Poland's continued economic growth will contribute to a further expansion of Polish-Austrian trade in the coming years."

"We want to encourage Polish businesses to work with Austrian partners," Pawlak said. "The distance to Austria is short. One should be searching for cooperation opportunities nearby-where it is possible to look one's partner in the eye and meet them face to face."

Fischer, on his part, said that Austrian businesses are interested in taking part in projects related the Euro 2012 soccer tournament to be hosted by Poland together with Ukraine. "This is an opportunity for Austrian companies to start projects in infrastructure and other sectors," Fischer said. "Austrian companies also have vast experience in environmental protection and renewable energy."

Last year, Poland's exports to Austria increased by 16.8 percent to 2.4 billion euros, while imports from Austria increased by 25 percent to 2.5 billion euros. Manufactured goods accounted for 53 percent of Poland's total exports to Austria, followed by metallurgical products (19 percent), agri-food products (12 percent), and mineral products (16 percent).

Almost 800 Austrian companies operate in Poland. At the end of 2007, the combined value of Austrian direct investment in Poland reached 4.3 billion euros, according to the National Bank of Poland. It accounted for 3.6 percent of the total value of major foreign direct investments in Poland, putting Austria in ninth place among foreign investors in this country. In 2008, Austrian investors invested around 400 million euros here, mainly in the real estate and building material industries.

Among the largest Austrian investors in Poland are Europolis (real estate), Bau Holdings Strabag AG (hotels, office buildings), Raiffeisen Zentralbank, Rigips Austria GmbH and Leier (building materials), Wienerberger (building ceramics), Porr International (hotels), Warimpex (hotels, office buildings), Henkel CEE (chemicals), Kaindl-Krono (chipboards), and several insurers: Uniqa, Generali, Wüstenrot and Wienerstädtische.

Polish investment in Austria reached 124.7 million euros last year. The largest deal was the acquisition of Voestalpine Stahlhandel, an Austrian distributor of steel products, by Poland's Z³omrex.
© The Warsaw Voice 2010-2018
E-mail Marketing Powered by SARE