Economic diplomacy – an important component to international expansion of Polish companies

On 5 September 2019, the Ministry of Foreign Affairs hosted a session titled “Economic Diplomacy as a Foreign Policy Instrument” on diplomatic efforts to support innovative sectors of the Polish economy and help establish its positive image across the world.

Successful commercialisation of innovative solutions and technologies in the era of globalisation is a key competitiveness factor for economies. International promotion of the country’s companies with the greatest innovation potential is essential for creating a positive image of Poland globally, and for reinforcing the position of these businesses around the world.

In particular, domestic medicine manufacturers need support mechanisms to develop innovations, or otherwise Polish pharmaceutical industry will not be able to compete with global players.

In order to grow and compete in international markets, Polish companies need economic diplomacy, as well as a strong position on the domestic market, which can be built using support instruments as part of a systemic approach, such as the government’s planned initiative to give preference to companies investing in R&D in Poland when granting reimbursement status to medicinal products,” Katarzyna Dubno, Public Affairs Market & Access Director, Adamed, said at the panel.

Adamed joined the global innovation race in the early 2000s and has consistently strengthened its position on international markets. Today, the company has 9 representative offices and sells its products in 70 markets. In 2017, Adamed acquired the Vietnamese Dat Vi Phu Pharmaceutical, one of the fastest growing pharmaceutical companies in Vietnam. This investment provides a platform for development in Southeast Asia. In 2019, Adamed bought a block of shares in the Italian company Ecupharma and opened a representative office in Italy.

Working with diplomatic missions to support Polish pharmaceutical companies in international markets is a key growth driver. Economic diplomacy includes information and organisational support, an intervention in case of discrimination or infringement of the law, as well as assistance with business transactions or investment projects.

The panel session was also attended by: Katarzyna Kwiecień, Head of Export Support Department, National Support Centre for Agriculture (KOWR); Artur Wiza, Chairman of the Council of the Polish Chamber of Information Technology and Telecommunications (PIIT); and Maciej Kołtoński, Head of Communications and Strategy, Startup Poland Foundation.