Poland Looks Forward to Long-term Relations with Saudi Arabia in IT, Food Security

Robert Rostek, Polish Ambassador to Saudi Arabia, during the inauguration ceremony of the direct air line between Riyadh and Warsaw. (Asharq Al-Awsat)
Robert Rostek, Polish Ambassador to Saudi Arabia, during the inauguration ceremony of the direct air line between Riyadh and Warsaw. (Asharq Al-Awsat)
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Poland Looks Forward to Long-term Relations with Saudi Arabia in IT, Food Security

Robert Rostek, Polish Ambassador to Saudi Arabia, during the inauguration ceremony of the direct air line between Riyadh and Warsaw. (Asharq Al-Awsat)
Robert Rostek, Polish Ambassador to Saudi Arabia, during the inauguration ceremony of the direct air line between Riyadh and Warsaw. (Asharq Al-Awsat)

A senior Polish diplomat revealed growing prospects for fruitful cooperation between his country and Saudi Arabia, especially in food security, while many companies operating in information technology and the food industry have expressed their interest in establishing local offices in the Kingdom.
In an interview with Asharq Al-Awsat, Robert Rostek, the Polish ambassador to Saudi Arabia, emphasized that the two countries’ leaderships are determined to develop bilateral economic, political and social relations.
He also said that the European 5-year Schengen visa that is provided for Saudi nationals will increase tourism and trade between the two sides.
The volume of bilateral trade reached $7.9 billion in 2023, which makes the Kingdom the largest economic partner of Poland at the level of Arab countries, the ambassador stated.
“In 2025, we will celebrate the 30th anniversary of the establishment of diplomatic ties between the two countries, although official contacts go back nearly 100 years... If it were not for our complex history, our diplomatic relations would have remained unhindered throughout these years”, he said.
According to Rostek, relations between Riyadh and Warsaw have developed at an unusual pace especially in the past year. He explained that senior Polish officials visited the Kingdom in 2023, including the Polish Prime Minister Mateusz Morawiecki and Minister of Finance Magdalena Rzeczkowska.
Similarly, some senior Saudi officials conducted visits to Poland, he remarked. Those include the Saudi Minister of Economy, Faisal Al-Ibrahim, in May, and the Minister Transport and Logistics, Saleh Al-Jasser, with the Chairman of the General Authority of Civil Aviation, Abdulaziz Al-Duwailej, in August, whose mission greatly contributed to the signing of the Polish-Saudi air transport agreement, which led to the establishment of a direct air line between Riyadh and Warsaw, just one month ago.
The Polish diplomat went on to say: “We have also worked together on the Ukrainian file, and supported diplomatic efforts, by participating in the Jeddah Summit in August 2023.”
Rostek told Asharq Al-Awsat that the year 2023 witnessed the entry of a number of Polish firms into the Saudi market. He pointed to the presence of Polish companies Comarch and Asseco, which specialize in IT solutions, in addition to other companies operating in the food, cosmetics and fashion industries.
He added that on June 4, 2024, direct flights were launched between Riyadh and Warsaw, operated by LOT Polish Airlines.
“We see a mutual understanding with Saudi Arabia, to develop our relationship economically, socially and politically,” he said, adding: “With the newly approved series of EU visas for Saudis, and the possibility of obtaining 5-year Schengen visas, in addition to Saudi e-visas, travel between the Kingdom and Europe has become easier than ever before.”

 

 



OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

The OPEC logo. Reuters
The OPEC logo. Reuters
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OPEC Again Cuts 2024, 2025 Oil Demand Growth Forecasts

The OPEC logo. Reuters
The OPEC logo. Reuters

OPEC cut its forecast for global oil demand growth this year and next on Tuesday, highlighting weakness in China, India and other regions, marking the producer group's fourth consecutive downward revision in the 2024 outlook.

The weaker outlook highlights the challenge facing OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia, which earlier this month postponed a plan to start raising output in December against a backdrop of falling prices.

In a monthly report on Tuesday, OPEC said world oil demand would rise by 1.82 million barrels per day in 2024, down from growth of 1.93 million bpd forecast last month. Until August, OPEC had kept the outlook unchanged since its first forecast in July 2023.

In the report, OPEC also cut its 2025 global demand growth estimate to 1.54 million bpd from 1.64 million bpd, Reuters.

China accounted for the bulk of the 2024 downgrade. OPEC trimmed its Chinese growth forecast to 450,000 bpd from 580,000 bpd and said diesel use in September fell year-on-year for a seventh consecutive month.

"Diesel has been under pressure from a slowdown in construction amid weak manufacturing activity, combined with the ongoing deployment of LNG-fuelled trucks," OPEC said with reference to China.

Oil pared gains after the report was issued, with Brent crude trading below $73 a barrel.

Forecasts on the strength of demand growth in 2024 vary widely, partly due to differences over demand from China and the pace of the world's switch to cleaner fuels.

OPEC is still at the top of industry estimates and has a long way to go to match the International Energy Agency's far lower view.

The IEA, which represents industrialised countries, sees demand growth of 860,000 bpd in 2024. The agency is scheduled to update its figures on Thursday.

- OUTPUT RISES

OPEC+ has implemented a series of output cuts since late 2022 to support prices, most of which are in place until the end of 2025.

The group was to start unwinding the most recent layer of cuts of 2.2 million bpd from December but said on Nov. 3 it will delay the plan for a month, as weak demand and rising supply outside the group maintain downward pressure on the market.

OPEC's output is also rising, the report showed, with Libyan production rebounding after being cut by unrest. OPEC+ pumped 40.34 million bpd in October, up 215,000 bpd from September. Iraq cut output to 4.07 million bpd, closer to its 4 million bpd quota.

As well as Iraq, OPEC has named Russia and Kazakhstan as among the OPEC+ countries which pumped above quotas.

Russia's output edged up in October by 9,000 bpd to about 9.01 million bpd, OPEC said, slightly above its quota.