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.”

 

 



Japan Imposes New Regulations on Chip Supply-Chain Network

Pedestrians wak past an electronic board displaying the Nikkei Stock Average figure, in Tokyo, Japan (EPA)
Pedestrians wak past an electronic board displaying the Nikkei Stock Average figure, in Tokyo, Japan (EPA)
TT

Japan Imposes New Regulations on Chip Supply-Chain Network

Pedestrians wak past an electronic board displaying the Nikkei Stock Average figure, in Tokyo, Japan (EPA)
Pedestrians wak past an electronic board displaying the Nikkei Stock Average figure, in Tokyo, Japan (EPA)

Japan has decided to apply foreign trade regulations to chipmaking equipment as part of its efforts to secure stable supply chains, the Finance Ministry said Friday.

Foreign investors are now required to give prior notice when conducting direct investment in equipment tied to chipmaking, including when acquiring a 1% or bigger stake in a listed company or buying shares in an unlisted company, the ministry said in a statement, according to Bloomberg.

The move also aims to address the risk of technology leakage and keep commercial technologies from being used for military purposes, it said.

Other products added to the list of so-called “core business sectors” include advanced electronic components, machine tool components, marine engines, fiber optic cables and multifunctional machines, according to the ministry.

The targeted move will help the government enhance national security while its impact on companies is expected to be limited, a Finance Ministry official told Bloomberg.

The move comes as Japan tries to revive its own capacity to produce semiconductors as a pillar of its economic security strategy.

Japan has already earmarked some ¥4 trillion ($26.9 billion) over the last three years to recharge its semiconductor sectors and promote digitalization.

In the markets, Japan's Nikkei share average climbed nearly 3% on Friday and notched its best week in more than four years, as strong US retail sales data soothed fears of a recession in the world's largest economy and Japan's top trading partner.
The Nikkei closed 3.6% higher at 38,062.67, locking in its second-largest daily gain for the year, while the broader Topix finished up about 3% at 2,678.60.

The Nikkei logged its biggest weekly gain since April 2020, rising over 8%, buoyed by easing concerns about the state of the US economy, a pause in the yen's rapid appreciation and a pick-up in Japan's economic growth.

Wall Street's main indexes closed higher on Thursday after US retail sales increased 1% in July following a downwardly revised 0.2% drop in June.

The rally was broad-based, with 219 of the Nikkei's 225 constituents advancing against 5 decliners, while shares of many big names surged.

Nikkei heavyweight Fast Retailing jumped 6.2%, while chip-related share Tokyo Electron gained 4.8%, along with peer Advantest, adding 6.8%.

Meanwhile, the yen weakened against the dollar overnight in a boost to Japan's export-related shares like automaker Toyota Motor, which rose about 2%.

The Nikkei fell more than 12% on Aug. 5 in its biggest single-day decline since Black Monday amid a storm of concerns, including US recession fears sparked by a weak jobs report and a sharply stronger yen.

It has since clawed back those losses but remains well off an all-time peak of 42,426.77 touched in mid-July.

Among individual shares on Friday, electrical component maker Fujikura rallied over 11% to become the biggest percentage gainer.