A "one plus 16" secretariat for cooperation between China and 16 Central and Eastern European countries will be set up in Warsaw to help Chinese companies to invest in the region, said Slawomir Majman, president of Polish Information and Foreign Investment Agency at the 18th China International Fair for Investment and Trade on Sept 8.

"The 'one plus 16' secretariat will serve as a further support and supplement for the Secretariat for Cooperation between China and Central and Eastern European Countries," said PAIiIZ president Majman.

The Secretariat was proposed by former Premier Wen Jiabao and set up in September 2012. It came up with 12 measures and a $10 billion line of credit for the region to revitalize China's economic and trade ties with Central and Eastern European countries.

Poland is experiencing the most rapid economic development in almost three decades. Statistics from the United Nations show that Poland, next to the UK and France, ranks third in term of attractive investment destinations in Europe.

As the country with the biggest land area and population in the CEE region, Poland has established close economic and trade ties with China. It has been China's biggest trade partner among CEE countries for nine years in a row. Statistics from the Ministry of Commerce show that Sino-Poland trade volume reached $14.81 billion, a record high in 2013.

"Poland offers a favorable investment environment given its economic and financial stability and its consolidated and strong position in the EU," said Majman.

Overseas investors can also take advantage of Poland's highly educated human capital, Majman said, adding, "One out of every 10 university students in Europe is Polish".

"Currently Chinese investment accounts for just 2.2 percent of the total investment in Europe. We want to welcome more Chinese investment to Poland, encourage more Chinese companies to create new jobs in Poland and participate and share in Poland's overall economic development," said Majman.

"In particular, we want Chinese companies to participate in fields like infrastructure, energy, food processing and aviation," he said.

The Polish government has also announced a series of incentives to boost investment from China. It has also set up a Poland-China Economic Cooperation Center to help Chinese companies carry out various business activities in Poland.

"Chinese companies can make use of all the incentives that Poland has announced to support foreign investment, like the 14 special economic zones," said Majman. Foreign investors in key industries can also enjoy grants from both central and regional governments, he said.

Besides, foreign investors in Poland can also take advantage of the financial incentives provided by the EU. Poland is slated to receive funds worth 100 billion euros ($129.35 billion) from the EU in the next seven years, he said.

xiaolixin@chinadaily.com.cn

(China Daily 09/09/2014 page16)