Business / Industries

Poland's branding in need of polishing

By Wang Chao and Zhong Nan (China Daily) Updated: 2014-05-26 07:12

"For example, few people know that Poland is the sixth-largest cosmetics manufacturer in Europe, and the products are sold to 160 countries."

Over the past 10 years, the value of Poland's cosmetics market has grown about 25 percent a year, she says, being worth about 3.4 billion euros ($4.7 million) in 2012. Hair and skin care products account for 35 percent of the market, followed by perfume, men's skin care products and makeup.

China is Poland's biggest trading partner in Asia, and Poland is China's biggest trading partner in Central and Eastern Europe.

Poland's branding in need of polishing

Poland's branding in need of polishing

The Polish Ministry of Finance says trade between China and Poland tripled between 2005 and 2012, and amber accounts for a lot of that increase.

Polish amber, sometimes called "gold from the Baltic Sea", accounts for more than 70 percent of the amber sold in the world. Poland estimates that more than 40 percent of these products are sold in Asia.

In Poland, 60 percent of the amber products are made by small and medium-sized businesses, and the number of people working in the industry in the country has grown from 500 in 1990 to more than 10,000 last year, Iwanicka says.

Pharmaceuticals is another fast-growing industry in Poland. Official figures show there are more than 140 pharmaceutical companies in the country and 111 institutes dedicated to research and development. Over the past eight years, exports of pharmaceutical products have risen about 30 percent a year, Iwanicka says.

The industry has become so prominent in Poland that pharmaceutical studies have become a highly popular subject choice among young Poles enrolling at universities.

"We hope Chinese and Polish companies can form partnerships in jewelry, bio-technology, pharmaceuticals and cosmetics, machinery and food industries," says a statement from the Polish Ministry of Economy.

As the Chinese government calls for rejuvenation of the Silk Road, Iwanicka sees a good opportunity for China and Poland to strengthen their business bonds.

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