UAE And Poland Seek To Bolster Financial And Economic Agreement
The UAE and Poland intend to deepen their bilateral financial and commercial connections while evaluating opportunities in important industries including tourism, fintech, and renewable energy.
“The UAE is keen to consolidate economic and financial ties and partnerships with Poland and expand areas of cooperation to include key areas of common interest. Our cooperation will contribute to advancing our economies and consolidating our bilateral relations,” said Mohamed bin Hadi Al Hussaini, UAE’s Minister of State for Financial Affairs.
The two nations decided to expand their collaboration and share best practises, information, and experiences in the area of tax policy.
These procedures include using big data for analysis, machine learning, supporting research and innovation, and implementing new technologies like artificial intelligence in the public sector.Poland's non-oil intra-trade volume with the UAE reached Dhs3 billion in the first half of 2022, up 22% from the same period in 2021, making it one of Poland's largest trading partners in the GCC.
The amount of intra-country non-oil commerce between the two nations increased by 12% from the previous year to Dhs5.3 billion in 2021.
Investopia, a global investment platform, and comprehensive economic partnership agreements (CEPA), in addition to other incentives, are provided by the UAE economy.
Since 2021, the Gulf state has begun CEPA negotiations with a number of countries, including South Korea, Thailand, Malaysia, Ukraine, and Vietnam, as well as inked four bilateral trade agreements, including ones with India, Israel, Indonesia, and Turkey.
Israel and India agreements are now in effect, and Indonesia and Turkey agreements will soon follow suit. The talks are anticipated to create the groundwork for constructing a key platform to safeguard economic and trade connections in the future.