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Readout of Acting U.S. Commerce Secretary Rebecca Blank’s Participation in the U.S.-Poland Business Summit in Warsaw

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Wednesday, June 20, 2012

Acting U.S. Commerce Secretary Rebecca Blank and Poland’s Deputy Prime Minister Waldemar Pawlak welcomed participants in the U.S.-Poland Business Summit and Business Roundtable in Warsaw today. This important event fulfills an agreement made during President Obama’s visit to Poland last yearto bring together U.S. and Polish business and government leaders to identify and promote new commercial opportunities and strengthen and expand commercial relations between the two countries.
Blank and Pawlak co-chaired the Business Roundtable at an informal session with American and Polish businesses and government officials. They discussed increasing bilateral investment and expanding energy sector cooperation. In her remarks, Acting Secretary Blank called for more cooperation between the two countries to continue vital strides towards creating good paying jobs that will help both economies flourish.
In her remarks to the summit, Acting Secretary Rebecca Blank talked about increasing U.S.-Poland economic and commercial ties. She said that over the past ten years, U.S. bilateral trade with Poland has nearly quadrupled and today the U.S. is doing more than ever to link with the EU’s fastest-growing economy.
Earlier today, Acting Secretary Blank joined Minister Pawlak for an Economic and Commercial Dialogue to explore ways to bolster exports and investment and advocate for U.S. projects. Blank noted that Poland is a highly important market for U.S. companies and significant opportunities exist across Poland’s energy, infrastructure and civil nuclear sectors. She said American businesses stand ready with a broad spectrum of cutting-edge technologies to help meet Poland’s needs. She encouraged Poland’s growing interest in investment opportunities in the United States and spotlighted SelectUSA, an initiative to facilitate foreign business investment in the United States as one way for Poland to explore investment opportunities.
The trans-Atlantic relationship is strongthe U.S. and EU are each other’s primary source and destination for FDI, helping to generate $5 trillion in annual commercial sales and employing 15 million workers on both sides of the Atlantic. Poland’s impressive GDP growth over the past five years is creating opportunities for increased Polish investment in the U.S.
U.S. companies have been important contributors to Poland’s free market economy and were among the first and strongest foreign direct investors in Poland. Since 1989, there has been a continuous increase in the scope of U.S. investment in Poland, reaching to over $30 billion.

Blank also held meetings with Poland government officials to include Deputy Prime Minister Pawlak and Foreign Minister Radoslaw Sikorski that spanned a variety of topics, including investment, trans-Atlantic ties, energy, and infrastructure. In the meetings, she acknowledged that bilateral commercial relations has never been stronger but noted there is still room to grow. She expressed her hope to build on this progress and fulfill that untapped potential.
Poland is one of Europe’s fastest-growing economies, and its large market presents an important opportunity for U.S. companies to sell their goods and services to some of the 95 percent of consumers who live beyond our borders and boost job creation at home. Connecting American businesses to new opportunities in Poland’s rising energy and infrastructure sectors is an integral part of meeting President Obama’s National Export Initiative (NEI) goal of doubling U.S. exports by the end of 2014 to create more good-paying jobs.