- Poland is an excellent but as yet not fully exploited opportunity by British companies. British companies need to make the most of both export and business expansion opportunities at this exciting time in Poland’s development - commented David Thomas, BPCC chairman.

The Polish economy continues to power ahead but it seems that British industry has not noticed. The Polish currency, the zloty has appreciated against sterling by 40% since Poland joined the EU and by 20% since last year. UK firms who were last in Poland on trade missions in 2004 or ‘05 still say “Polish companies and consumers can’t afford our products”. No longer true.
• A pound today costs 4.30 zlotys. In May 2004 it cost 7.15. That’s a 40% difference!
• Corporate investment in Poland is up by over 30% in Q3 2007 compared to the same period in 2006
• Consumer spending is up by 24% in Q1 2008 compared to the same period in 2007
• Poland’s burgeoning middle-class consumers are clustered in six high-growth cities, all of which have unemployment of 4% or less (national average 11.1%)
• Average wages are soaring, rising by 10.8% in the year to March 2008
• The economy is based on solid fundamentals and is set to grow at 4.5%-5.5% for the next 5 years
• Over €67 billion in EU funds has been earmarked for Poland, with another €26 billion in Polish public and private sector match- funding. The lion’s share of this €93 billion is to be spent on infrastructure projects. British firms with experience in PPP projects will have a head start in bidding for this type of work.
• Despite a strong zloty, Poland’s exports grew by 15% to €101 billion, while imports grew by 17.7% to €119 billion
• British exports to Poland are lagging behind the Polish performance. In the first two months of 2008, Polish exports to the UK soared by 12.8% compared to the same period in 2007, in the teeth of a rising zloty. British firms only managed a 1.7% increase in exports to Poland during this period, even though a weak pound would have made their products far more competitive on the Polish market.

- Poland has been kept a secret for too long. "Brand Poland" belies rich pickings for British companies who so far are not exploiting Europe’s up-and-coming new business destination. Just listen to anyone who returns from a visit there – it’s always better than they thought before going there - said Martin Oxley, BPCC CEO. But just how strong is Poland’s economy and what are the growth opportunities for British companies?
At the BPCC’s recent Annual Conference, top economists from both countries were united in confirming Poland’s strong economic potential in the face of a global downturn. Polish economic fundamentals are strong; internal demand will drive growth along with exports and the injection of EU funds. The zloty is likely to strengthen more, Euro entry is likely delayed and the country will consolidate its position as the leading CEE destination for foreign direct investment. The profile is likely to move more upstream to R&D investments rather than low-cost manufacture. This change is apparent already with sector clusters developing across Poland's regions. The conference confirmed both the export opportunity and also a unique window of opportunity for British companies to enter Poland as a European manufacturing and distribution base.

It is more than trade and investment which is on offer. Poland is currently facing an employment crunch and an innovation gap. This creates an unprecedented opportunity to take part in partnerships and joint venture activity to develop human capital and enable enterprise development. Nearly €12 billion of EU funds are to be made available for projects to enhance Poland's human capital, another €10 billion has been earmarked for the innovative economy programme.

Legendary Solidarity leader and former Polish president Lech Walesa will be in Durham to highlight these opportunities to UK business.