Türkiye and Poland Strengthen Economic Ties with Expanding Trade and Investment
Istanbul, The Gulf Observer: Türkiye and Poland are ushering in a new era of economic collaboration, driven by growing trade and investment opportunities across key sectors, Polish Consul General in Istanbul Witold Lesniak announced.
Highlighting the thriving partnership, Lesniak emphasized mutual growth in areas such as agriculture, cosmetics, and innovation. “We see great potential in further strengthening our bilateral ties, especially in trade, innovation, and mutual investment,” he said.
Record Trade Figures and Investment Growth
Trade between the two nations reached $12.6 billion in 2023, a 17% increase compared to the previous year. Polish exports to Türkiye grew by 21%, while imports from Türkiye rose by 14.6%. However, Lesniak noted the need for balance, as Poland recorded a $3 billion trade deficit with Türkiye last year.
To address this, he stressed the importance of fostering innovation and investment while creating a more equitable trade relationship.
Turkish companies have made significant inroads in Poland, operating 168 entities and generating $830 million in revenue in 2022. Notable examples include Gulermak, which is involved in metro construction projects in Warsaw.
Similarly, Polish firms such as Asseco and Polopharma have established a strong presence in Türkiye, further solidifying economic ties.
Opportunities and Challenges
Poland’s cosmetics and health food products are gaining popularity in Türkiye, reflecting growing demand for sustainable and premium options among the country’s expanding middle class.
“Polish companies are committed to delivering products that align with the needs of Turkish consumers while emphasizing quality and sustainability,” Lesniak said.
The Polish cosmetics industry, valued at over $6.7 billion in 2022 and projected to grow by 6.2% in 2023, has made notable strides in Türkiye. Eco-friendly brands such as Ziaja, Inglot, and Pierre Rene are recognized for their sustainable packaging and affordability.
The health food industry has also seen success, with Polish companies like Lestello and Kupiec introducing popular products such as rice cakes and puffed wheat to the Turkish market.
However, Lesniak acknowledged challenges, including Türkiye’s protective trade regulations and traditional consumer preferences, particularly in food. He expressed optimism that greater awareness of Polish brands could help overcome these hurdles.
Strengthening Bilateral Ties
Lesniak described the expanding economic partnership as a testament to the enduring relationship between Türkiye and Poland. “The demand for Polish cosmetics and health food products in Türkiye is a clear sign of the growing scope of our bilateral trade,” he said.
Poland’s agricultural exports, valued at over $49.4 billion in 2022, exemplify its commitment to sustainability and quality. Lesniak noted that these products align with the expectations of health-conscious Turkish consumers, fostering deeper collaboration in the food industry.
As both nations continue to strengthen their economic ties, Lesniak expressed confidence in the potential for even greater cooperation. “Our economic partnership is thriving, and we look forward to a future of mutual growth and shared success,” he concluded.
