What role will Polish companies play in the reconstruction of Ukraine?
Until now, Ukraine has played a rather minor role for Polish companies, but at the same time, Polish enterprises have been one of the largest external suppliers to the Ukrainian market. Pekao SA analysts are considering the possible participation of Poland in the future restoration of Ukraine. This is reported by Railway Supply magazine with reference to Rynek Infrastruktury.
The Russian invasion of Ukraine has been going on for almost 8 months now. A recent report puts the losses at almost $115 billion, and the amount continues to rise after the recent massive shelling of Ukrainian cities by the Russians.
During the Russian invasion, Poland became one of the main allies of Ukraine, for example, by accepting numerous refugees. Therefore, analysts are wondering about the role that this country can play in the reconstruction of Ukraine.
The share of the Ukrainian market in total Polish exports in 2021 was just over 2%, which gave it a distant, 15th place in the list of the most important export destinations. Although sales to Ukraine have grown dynamically over the past few years, Ukraine’s share of total Polish exports last year was still lower than at the beginning of the previous decade. At the same time, the value of goods exported to Ukraine is growing from year to year, reaching 6.2 billion euros in 2021 compared to 5.2 billion euros in 2020 and 5 billion euros in 2019
Experts emphasize that the situation is completely different when it comes to the role that Poland played for the Ukrainian economy before the war. Polish companies were among the largest external suppliers to the Ukrainian market and at the same time the largest foreign investors in this country. Capital raising of Polish companies in Ukraine showed a clear upward trend in the previous 3 years, exceeding USD 1.1 billion in 2021, the report says.
Analysts conclude that “the active participation of Polish companies in the future reconstruction of Ukraine is a project that can bring tangible benefits to both parties.”
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