According to Jakub Rybacki, an analyst with the Polish Economic Institute, the visit of U.S. President Joe Biden will have more military and energetic significance for Poland than economic significance.
According to Jakub Rybacki, an analyst with the Polish Economic Institute, the visit of U.S. President Joe Biden will have more military and energetic significance for Poland than economic significance.
U.S. President Joe Biden will visit Poland on February 21-22. He will meet with Polish President Andrzej Duda, hold a meeting with leaders of the Bucharest Nine and deliver a speech ahead of the anniversary of the Russian invasion of Ukraine.
“The prospects for arms contracts, nuclear energy financing, and LNG and diesel fuel imports will be important,” Rybacki said. He added that at the same time Poland has the potential to expand exports in medical equipment and machinery. Rybacki noted that the United States is a leader in the development of military technology.
He pointed out that America is home to 5 of the world’s 10 largest defense industry companies. “Poland, on the other hand, will steadily increase investment in the development of defense capabilities – spending for this purpose already exceeds the 2 percent of GDP established under NATO, and will increase significantly in the coming years,” he pointed out.
President Biden will visit Poland this month to mark the one-year anniversary of Russia's invasion of Ukraine https://t.co/e1JQGCWGMr
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In addition to military cooperation, Poland and the US are cooperating in the area of energy. In the first eleven months of 2022, cooperation between the U.S. and Poland strengthened, primarily as a result of the war in Ukraine and the energy crisis.
He also noted that the United States will also be an important partner for Poland in the context of energy security. The Polish government in December selected Westinghouse technologies to build a nuclear power plant. Negotiations on financing are underway. US companies are also involved in the construction of small nuclear reactors (SMR).
Diesel imports and LNG supplies will also be an important topic. Over the next three years, Europe will increase its demand for liquefied gas by 44 million tonnes, and the US will be one of the countries that will strengthen exports.
So far, trade relations between Poland and the US have not been very significant. The United States accounts for about 3 percent of Polish exports – mainly machinery, electronics and photographic and film equipment. The dollar value of Polish exports to the U.S. increased by 36.4 percent and imports by 57.5 percent compared to the same period in 2021. Civilian economic ties may expand after Tuesday’s meeting.