Attracted by higher growth prospects and seeking new business opportunities, more and more Polish companies are looking to expand to foreign markets, including the United States.
Currently, there are obstacles that companies have to overcome.
Two Polish business people, Marcin Piątkowski, CEO & Founder of JAM Vehicles and Jakub Imosa, Co-Founder & CEO of Kotrak Group, explain what expectations they have of the the Transatlantic Trade and Investment Partnership.
Enhancing competitiveness and growth, making use of the digital potential and strengthening the role of the European Union in the global arena are the main objectives of the Latvian Presidency of the Council of the European Union, which commences on January 1, 2015.
Nine months after Latvia introduced the euro, the country has seen a number of benefits: the common currency has significantly lowers the international transfer fees and conversion fees, Latvia uses a global reserves currency which helps remove devaluation risks, the country’s rating has improved and it is now able to take part in the European Monetary Union’s decision process. The Bank of Latvia is also expecting other benefits in the foreign investment area.
Thousands living in eastern Ukraine are caught in the escalating conflict between government forces and Russian-backed separatists. With foreign retail companies, international trade going down and the devaluation of the hryvnia, the economic situation is worsening and the country is on the verge of bankruptcy. Continue reading Military neutrality in Ukraine is key to its economic growth→
“The zloty fulfilled its goal in the time of that crisis but should there be another earthquake around Poland, being outside the Eurozone would be particularly dangerous for the country, its inhabitants and economy. Should we have another typhoon in Europe, similar to the one after the collapse of Lehman Brothers in 2008, we wouldn’t be able to survive even though we are part of the European Union because we’re not in the Eurozone,” says Janusz Piechociński, Poland’s Deputy Prime Minister and Minister of Economy.
One never knows how things will develop, says James Roaf, Senior Regional Resident Representative of IMF, discussing changes on the CEE geopolitical scene with Why Emerging Europe, including Russia’s annexation of Crimea and CEE’s history of legacy risks. Roaf argues that it is imperative for countries of CEE to repair their fiscal policies through structural reform, dealing with high debt levels and controlling the exposure to unpredictable foreign investment in order to create a healthier business climate and better economy.
Taking full advantage of the opportunities following accession into the European Union, Poland has become a leader in economic development among those countries joining between 2004 and 2007, not only yielding the best results within the CEE region but also throughout the EU in times of economic crisis.