Spanish Interest in Poland

Spanish-Polish Cooperation

Spanish-Polish Cooperation

Last year’s changes in Polish exports of medicinal products came as a surprise to market experts, manufacturers and industry organisations alike. In the first three quarters of 2014 Spain bought 80% more pharmaceuticals in Poland than in the whole of 2013. According to data of the Central Statistical Office of Poland (GUS), PLN 1.37 billion worth of medicinal products were sold to Spain, positioning the country as the largest importer, well ahead of Germany, which halved its imports of Polish pharmaceuticals. Industry experts and insiders did not expect this change and surmise that since Polish drugs are relatively inexpensive, distributors might buy pharmaceuticals intended for the domestic market and sell them elsewhere in the EU. Another conjecture offered as an explanation is that even though the crisis in Spain is officially over and the country’s economy is recovering, Spaniards might still be curbing their expenses and thus be attracted by the value for money of Polish products. Polish manufacturers have done little to bring about such export dynamics. While Adamed has gained a foothold on the Spanish market, the scale of its operations there is limited. Polpharma, Poland’s largest pharmaceutical company, has monthly sales to Spain averaging approximately PLN 300,000. An expert from IMS Heath, a research company, believes that the Spanish boom may have been triggered by the policies of pharmaceutical multinationals whose Polish plants manufacture for both domestic and global markets. Closing down a few of their production lines dedicated to the German market might have led to a decline in exports to Germany, just as the opening of new ones targeted at other markets might have boosted exports there. Although Spain was one of the hardest-hit economies in the recent crisis, its potential as a trade and investment partner is significant and its share in Polish exports grew at a two-digit rate in 2013 and 2014. Also, having invested almost €10.5 billion, Spain now ranks fifth in foreign direct investments in Poland.
Puls Biznesu

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