Poland and China signed several business deals Wednesday that will strengthen economic ties between the two nations.
Poland's economy minister, Waldemar Pawlak, hailed the agreements as an engine for job growth and a new chance for Chinese investments in Europe to flourish. The deals were signed during a four-day visit to Warsaw by Jia Qinglin, the Communist Party's fourth-ranking leader, and included the sale of Polish copper to China and long-term cooperation by the countries' electronics and chemical companies.
Among the business deals is a far-reaching declaration of cooperation signed by Pawlak and Jiang Zengwei, China's deputy commerce minister. China is Poland's chief business partner in Asia.
"Poland may be the place where Chinese investment in Europe will develop in a dynamic way," Pawlak said after the signing ceremony. "It gives us an opportunity to create new, interesting jobs."
Pawlak mentioned machinery, cars, railway and road building as the main industries where cooperation can best develop. But he also said there is a need to overcome a significant imbalance in trade, with Chinese exports to Poland currently dominating the relationship.
In the first eight months of 2010, Polish exports to China grew by almost 30 percent compared to 2009 and amounted to (EURO)0.8 billion ($1.1 billion). Imports were down by 24 percent, to (EURO)7.8 billion.
Pawlak said 2010 is expected to be a record year in bilateral trade so far.