A lasting relationship between two dynamic economies
Following an economic mission to Warsaw in 2024, the Monaco Economic Board (MEB) welcomed a delegation from the Polish Chamber of Commerce in early October. The meeting was rich in prospects, marking a new stage in the rapprochement between the two countries. Justin Highman, Deputy CEO of the MEB, looks back on the challenges and results of this initiative.
Justin Highman: We wanted to turn our attention to Central and Eastern Europe, and Poland was the obvious choice. It is now one of the most dynamic economies on the continent, with solid growth and a very stable labour market. Its industrial base is robust, but there is also a strong push towards technology and innovation.
Furthermore, Poland is part of the European Union, which greatly facilitates trade and investment projects. This mission was a continuation of last year’s, a real ‘return match’ after a Polish delegation visited Monaco.
We noticed real dynamism in financial services, technology, health and well-being. Polish companies are very advanced in mobile payment solutions, neobanks and the digitalisation of services.
We also met with players in the aviation, yachting and naval sectors, areas in which synergies with Monaco are possible. Several Polish entrepreneurs have expressed interest in collaborations in these sectors.
Very positively. We organised more than 50 B2B meetings between nearly 30 Monegasque companies and nine Polish companies, who came to explore concrete opportunities. The discussions were very productive, and several partnership opportunities are already being explored.
The Polish delegation also visited MonacoTech and the Monaco Scientific Centre. They were impressed by the research being conducted on corals and, more broadly, by Monegasque innovation, which they were not necessarily aware of. Many knew Monaco as a financial and tourist centre, but they discovered another side to it: an economic ecosystem focused on sustainability and technology.
Absolutely. The MEB works regularly with Central and Eastern Europe. We recently carried out this type of operation with Hungary and are preparing to welcome a Slovakian delegation in November, led by their Minister of Foreign Affairs. Last month, we also welcomed the Latvian Ambassador for an economic presentation of her country.
Our ambition is to make these exchanges a long-term endeavour. Poland is a major economic power in the region, and Monaco has every interest in consolidating its presence and relations in this market. This is a long-term approach, supported by our embassy in Berlin, which covers Poland, and by an excellent consulate in Warsaw.
We will continue to increase exchanges in this area, but also in the Middle East and Africa, two other strategic areas for Monaco. Our objective remains the same: to create sustainable economic bridges between Monaco and strong, dynamic and innovative partners.
