Poland Trade Manual

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PolandBy: Nathan Sudds


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Executive Summary

Poland is one of the strongest countries in the world and has one of the

strongest economies. Poland has access to the largest business partners

through strong trade agreements such as the European Union.

Poland has been voted in the top countries for most favorable investment,

proving that Poland is a great opportunity for foreign investment. Poland

has been seen as a great investment due to the people of Poland and its

competitive edge which encourage more foreign direct investments.

Poland is able to dismiss financial crisis as its economy has not suffered

severely from financial crisis such as the European debt crisis. Instead

Poland pulls ahead of the pack by having a high domestic demand, a

decreasing debt, and most importantly, the hard working, intelligent labour

force.

By the end of this trade manual, you should be able to know:

!The background of Polands economy

!The reasons why Poland is not being badly affected by financial crisis

whereas Polands neighbors are affected by big losses

!Why Poland is such a favorable investment when it comes to foreign direct

investments and how the riskiness of doing business in Poland is low

!Why people should invest in the manufacturing of Polands infrastructure

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Table of Contents

Part 1

History.......................................................................................5

Map of Poland.............................................................................6

Size of Poland.............................................................................7

Basic Information....................................................................7-10

Climate....................................................................................11

Typical Occupations...............................................................11-12

Government..............................................................................13

International Trade.....................................................................14

Polish Brands.............................................................................15

Education.............................................................................15-16

Literacy Rate.............................................................................17

Health Care...............................................................................18

Current News.......................................................................18-19

Part 2

Stage of Development................................................................21

Exchange rate...........................................................................21

Inflation...................................................................................22

Natural Resources.................................................................22-23

Polish Products.....................................................................24-25

Polands Advantage...............................................................25-26

Manufacturing and Innovation.....................................................27

Investment Opportunities.......................................................27-28

Investment Methods...................................................................28

Economic State.....................................................................29-30

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Part 3

Infrastructure.......................................................................32-33

Facilities...............................................................................33-35

Office Spaces........................................................................36-37 Recent Changes....................................................................37-38

Trade Disputes...........................................................................39

Trade Agreements.................................................................39-40

Polands Relationships............................................................41-42

Part 4

Culture Overview..................................................................44-46

Business Etiquette.....................................................................47

Activities and Traditions.........................................................48-49

Culture Difference......................................................................50

Geert Hofstede.....................................................................50-52

Part 5

5 Risk Assessments...............................................................54-55

Overall Risk..........................................................................55-57

Investing.............................................................................57-58

Appendix..........................................................................................59

Bibliography......................................................................................86

Endnotes..........................................................................................92

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Part 1

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History

Poland hasaccumulated a large and colourful background over

the years which has contributed to the powerful nation that it is

today.

Major Dates since 1900:

1918- Poland becomes an independent nation, and became known as the

Republic of Poland1

1939 - Germany and the USSR (The Union of Soviet Socialist Republics)

invaded Poland and divided Poland between the two countries2

1945- A communist government took control of Poland and the current-day

boundaries of Poland were established3

1989- Poland had its first free election, to decide the new government of

Poland. A non-communist party received much support.4This was known as

The Solidarity Movement.

1990 - The communist government that previously controlled Poland was

discontinued, and the country now had a democratic government system5

1999 - Poland became a member of NATO (North Atlantic TreatyOrganization)6

2004 - Poland joined EU (European Union) and Poland is the European

Unions sixth most colossal member7(The European Union has 27 members)8

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For more information visit page 59


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Map of Poland

Above is a map of Poland

Elevation:Rysy Peak 8,199ft (2,499m) above sea level

Lowest elevation point is sea level9

Polands Terrain: Poland mainly consists of flat plains and swaying hills.

Southern Poland consists mainly of rugged mountains. Northern Poland is

beside the Baltic Sea.10Warsaw is Polands capital and its largest city.11

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Size of Poland

Poland is a relatively large country. Canada is definitely larger than Poland,

although a large part of Canadas land mass is north where very fewpeople

reside. Polands land mass has changed a lot because of the two World

Wars.

The Area of Poland is 120,728mi!(312,685km!)12

Compared to the Area of Canada, of 3,855,103mi!(9,984,670km!)13

Basic InformationCapital City:Warsaw14

Language Spoken:Polish15

Religion: Poles (Polish People) adopted Christianity in 966 A.D. and they

share the same belief today. There are a large amount of Roman Catholic

Churches in Poland today which shows they still have a strong belief in

Christianity.16

Ethnic Groups: Most of Polands citizens consists of Polish people. The

largest minority groups in Poland are Ukrainians, Germans, and

Belorussians.17

Currency:Z!oty (Z!) - 1 Polish Z!oty = 0.29603 Canadian Dollars.18 Poland

is the only country in the European Union that has not adopted the Euro.

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Population: Polands

population has been

increasing at a

moderate rate since1960. In 1960 the

population was

26,561,000. Then 50

years later, in 2010 the

population of Poland

had increased to

38,187,48819. The

fertility rate of Poland

was 2.98 births per

woman in 1960. After

year 1960 Polands

fertility rate decreased

due to the stabilization

of the economy and

government. In 2009

the fertility rate was

1.4 births per woman

and the fertility rate is

estimated to be

staying near the same

number for years to come.20

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The graph above is the population of Poland

since the year 1960 to 2010.

Source: World Bank.

Population of Poland


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Unemployment Rate: The unemployment history of Poland increased

drastically in 1998 (to a high of 20.3% of people unemployed in 2002) anddecreased rapidly in the following 10 years.21 The reason for this spike in

unemployment might be a result of the Russian financial crisis that occurred

in 1998.22 Recent statistics now show the unemployment rate of Poland

standing at 10.1% in January 2012.23

GDP:The GDP of Poland has been increasing since 1980. In 1980 Polands

GDP per capita was $4,207.651. By year end of 2010 the GDP per capita of

Poland was $18,981.11 per capita.24 (All converted into current day US

dollars.)

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The above is the unemployment rate of Poland.

Polands Unemployment Rate


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Time: When it is noon (12p.m.) in Ottawa it is 5p.m. in Poland.25 Polands

time zone is Central European Time (GMT + 01:00).26

External Debt:The debt that is owed to non-residents of Poland, from

Polish residents, was 252.9 billion in 2011.27 Poland is doing very well in

improving is credit rating. The Polish governments debt rating is A2, this

being the sixth highest investment rating. This debt rating is advancing with

a stable future, as said in the report.28

As you see above, the debt has slightlyincreased. Although the Polish

government is going to minimize Polands debt to 3% of Gross Domestic

Product, the debt was 5.1% of GDP in 2011.29

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Climate30

With Polands location in Europe, it shares the common snowstorms, during

winter, rain during hotter seasons, and other types of precipitation. The

average yearly precipitation is near 24 inches, (61 centimeters). The climate

of Poland differs depending on the area of Poland you are looking at. The

coast tends to remain cooler then the inland regions, and the mountainous

areas are usually cooler then the marshland areas. The average temperature

of Poland is -3C(26F) in January. In July the averagetemperature heats up

to 23C(73F) providing for a cooler winter and hotter summer.

Typical Occupations31

Poland has many occupations for people to become employed in. The

following are just a few of them.

Industry:Poland has a large abundance of coal. In Southern Poland,there

is a rich coal deposit, and it is one of the largest coal deposits in the world.

Polands land also contains copper, sulfur, zinc, lead and silver. The mining

and manufacturing industry provides numerous jobs for the people of

Poland. Poland is one of the leading countries in Europe for providing

resources such as coal, copper and silver.

Service Industry:In the industry where service is needed, Poland steps up

to the job. The service industry is huge in Poland, so huge that it accounts

for over half of Polands employment rate and contributes to two- thirds of

Polands GDP. The leaderofproviding jobs in the service industry, in Poland,

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is Polands government. Providing jobs such as healthcare and education,

many people find employment in the service industry through the

government.

Agriculture:Although this occupation in Poland does not contribute a large

portion to Polands economy is should still be recognized. Poland is one of

the leading producers of potatoes and rye. Although agriculture is only 4%

of Polands economy.

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GDP of Poland in 2007

64%

32%

4%

As you can see from the chart above, the service industry is the

largest, accounting for 64% of Polands GDP followed by industry

and agriculture.

Source: World Book Volume 15


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Government32

Poland has a stable, democratic government system. The National Assembly

is Polands parliament. The lower house has 460 members while the upper

house (or senate) has 100 members. The members of both houses serve

four year terms until the next election.

Poland was divided into 16 regions, each region looked after by its own

official, as appointed by the Voivod. The Voivod is appointed by the Prime

Minister of Poland. The Prime Minister is the head of the government, and

the President is head of the state. The duties that the President holds, is to

declare emergencies or reject legislation.

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The above is the Polish Parliament building in Warsaw.

For more information visit page 74.


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International Trade

Imports: Polish trade is dominated by its neighbors and allies in the

European Union.33 Around 60% of Polands imports are from the EU

(European Union) and 80% of its exports are to members of the EU.34

Germany is Polands most important trading partner as it neighbors Poland

and served as a quarter of Polish trade.35 The chief imports to Poland are

energy and capital goods which are mainly needed for industry services.36

Poland is a member of the World Trade Organization (WTO) and the EU

which provides Poland benefits such as no tariffs.37

Exports:Polands top exports are cars, coal, food products, iron, machinery,

ships and steel.38

Trade with Canada: Poland is Canadas largest trade partner both from

Central and Eastern Europe. In 2010, Canadian and Polish trade was

recorded at $1,162,000 Canadian. The exports of Polish goods and services

to Canada were valued at $992.5 million Canadian. The imports into Poland

from Canada was valued at $219.7 million Canadian. The main Polish

products exported to Canada were aerospace industry components, silver,

fur skins, machinery, wooden furniture, electric machinery, and agriculture.39

The chief Canadian exports to Poland were helicopters, airplanes, power,

equipment, aluminum, agriculture products and components for aerospace

industry.40

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Polish Brands

One successful Polish- originated

company is a company called PKN

ORLEN. This company is a large refiner

of crude- oil, one of the largest

companies in Central Europe to refine

oil. They have 11 refineries in several

countries and have huge profits of

3.070 billion in 2010.41

Another company, that originates from

Poland is called Fabryka Samochodw

Osobowych (FSO). FSO stands for

Factory for Passenger Automobiles. As

you can tell by the name, FSO manufactures automobiles worldwide. Last

year the company hada net income of 4.3 billion, clearly a very successfulmanufacturing company.42 One of their most recent cars is the Chevrolet

Aveo that was released in the European market in early 2011.43

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To the left is a photo of the

Chevrolet Aveo.


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Education

The University of Warsaw(UW) is by far Polands most prestigious and well

known university. It is prided for 37 major fields that it focuses in, as well

as over 100 specialization's in the subjects of Humanities and Earth, Social

and Natural Sciences. The UW was established in 1816 and has become

Polands largest university, employing over 6,200 people and over 3,200

professors this university has much to offer. Evidently, since UW is so well

known every year UW accepts over 53,000 applicants into its various

programs.

Education in Poland is very important. The more education one has, the

higher chance they have of getting a job.44

There are 12 universities in Poland.45 Polish law demands that children age

7- 15 must attend school. There are free, Government run schools and

private schools. After children complete Elementary, they must complete

secondary school, and upon graduating, students must pass entrance exams

for a higher education.46 Polish people respect the tradition of education asthe first University was established in

1364. A very intelligent astronomer by

the name of Nicolaus Copernicus was

born in Poland and attended the

University of Krakow and introduced

the theory that the Earth revolves

around the Sun and that the sun does

not revolve around Earth.47

Many intelligent and famous

people have received education in

Polands finest Universities.

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Above is a photo of the University of Warsa



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Literacy Rate

Since education is critical to finding a job in this country, the literacy rate in

Poland is quite high. The main reason for this high literacy rate is that

Polands education system is mandatory up to University.48 Polands literacy

rate exceeds most countries, especially less developed countries and

developing countries. The literacy rate of Poland is 99.8%.49

Environmental IssuesPolands environment has been improving in the past several years. The

government has been spreading awareness of pollution in Poland, which is

helping their environment. Although during the Second World War Poland

lost 4 million acres of forestland, which they are still trying to recover from.

In the mid 1990s, a large majority of Polands environment was destroyed

by airborne chemicals and acid rain.50

Pollution in the air has also been a major problem in Poland. Although efforts

to reduce the emissions seems to be working as emissions have dropped

40.5 metric tonnes in 10 years.51

Poland is also facing water and wildlife issues. For example the wild horse,

has become extinct. Only 12.4% of Polands land is protected, which can

help some other species who are suffering.52

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Health Care

Poland has a great health care system, which is free as paid for by the

government. The life expectancy of males is 72.31 years and the life

expectancy of women is 80.43 years. There are 2.144 physicians for every

1000 people and 6.62 beds for every 1000 people in Poland. A drinking

water source is available to everyone in the country. Access to the sanitation

facility is also high with 90% of the population having access to sanitation of

water.53

Birth Rate: The estimated birth rate for 2012 is 9.96 births for every 1000people.54

Death Rate: The estimated death rate for 2012 is 10.24 deaths for every

1000 people.55

Current News

Poland pushes for Saudi investment in key projects:56

Poland is choosing to contact Saudi Arabia and use their combined co-

operation to expand their oil, military, nutrition, health, tourism and financial

services. This partnership between the two countries is important to

strengthening their relations (not that they did not have strong relations

before) and to promote business acts between the nations. Since Poland did

very well in overcoming the European financial crisis, they wanted to

diversify their economic relations by taking advantage of Saudi Arabiaseconomic boom. This encourages better business relations and both

economies will improve since more investments will take place.

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Poland Welcomes more Chinese Investment:57

Poland is welcoming more Chinese companies and investments into the

country. Just like many others, China is amazed at Polands ability to

progress during the economic crisis. China has noticed that Polands GDPgrew 1.71 percent in 2012, which is the only EU (European Union) country

with a positive growth rate. They also realized that foreign direct investment

has grew 46 percent in 2011 (EU average was 17 percent) and that Poland

was the sixth most attractive country to invest in. Even though Poland is

hinting for Chinese investment now, they do not expect investments to be

made in the short term, but instead in 3 to 4 years. This article shows why

Poland is such a great investment and why other countries are interested in

taking advantage of Polands strong economy.

Poland squeezes cash out of state firms:58

A high domestic demand in Poland has caused businesses in Poland to earn a

lot more than they had expected. One ofPolands largest companies, PGE

(Pacific Gas an Electric Company) had earned more than its target this year.

In fact, they made 40 percent more than they had expected. Even another

company, PZU (Powszechny Zak!ad Ubezpiecze") which is an insurance

company has been making more. Due to this, Poland is encouraging these

businesses to give out dividends to shareholders. Poland is doing this

because they are planning to reduce their countrys budget deficit to below 3

percent of gross domestic product. In the end, Poland is hoping to raise 8

billion zlotys ($2.3 billion) from dividends. This shows that Poland is

responsibly helping its economy grow and stay out of debt, while making

businesses more successful than they had initially planned.

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Part 2

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Stage of Development

Poland is a thriving nation as its economy is doing very well. Poland moved

into a developed nation many years ago and is now experiencing good

economic growth. One reason that Poland is experiencing this growth is

because there is a young workforce, all becoming well educated. The literacy

rate of Poland is 99.8% and the infrastructure is very good as Poland has

many paved roads and airports.59 Although the unemployment rate is a bit

high at 10.1%60 making around 1.8 million without a job, many jobs are

being created and many are moving to the middle class. In the fourth

quarter of 2011, Polands economy showed substantial growth as it

blossomed 4.3 percent in the fourth quarter of 2011, which is 0.1 percent

more than the third quarter. The Polish economy and zloty seem to increase

at a rapid pace as most developed countries try to accomplish. 61 Poland is

also at an advantage due to its richness of natural resources and strong

relations with many countries.

Exchange RateAs of now, thePolish Zloty is weaker then the Canadian dollar. One zloty

continues to equal around 0.313178772 Canadian dollars.62 Poland is the

only country in the European Union that has not adopted the Euro. It is still

unknown when or if they will adopt the Euro. As Polands central bank chief

said, they predict that when they adopt the Euro the economy would boom,but some time after they would fear a collapse in Polands economy. Their

economy has been doing very well, better than the EUs average and they

will take their time adopting the a new currency.63

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Inflation

The inflation rate in Poland is low, symbolizing its developed status. Poland

steadily maintains its low inflation rate of 4%. Polands inflation rate use to

be very high, especially in the early 90s (Poland saw inflation rates as high

as 45%.) Currently, Polands inflation rate is very steady and safe, making it

that more appealing as a country to invest in.

Natural Resources

Poland has been furnished with an abundance of non-renewable and

renewable resources. Poland can easily shadow over other countries with its

richness of resources such as copper, zinc, lead, sulphur, rock salt,

construction minerals and coal. Poland seems to be amongst the largest

generators of the resources perviously stated. Poland has been blessed with

a large supply of oil, and many companies from around the world have

invested their time and money to take advantage of this opportunity. What

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Poland has a huge amount of is, geothermal waters. Geothermal waters are

an efficient source of heating for homes. Poland has such a large amount,

they have 3.5 billion tonnes in equivalency to oil.64 Furthermore the energy

stored in these waters is equivalent to 33 billion tonnes of oils energy. Thisis the largest supply of geothermal waters, in all of Europe which gives

Poland an easy advantage and an inexpensive way to heat homes in their

own country.65 Polands many resources provide for large amounts of

importing and exporting through the country and benefit Poland in a way

that makes their wallets bigger and competition smaller.

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Above is PKN Orlen. One of the many companies to invest in Poland!s oil supply.


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Polish Products

Belvedere Vodka66

Poland has had many products spawn in its country, some products have not

made it in the economy, and others have succeeded and contributed to

Polands success.

One very successful product that originated

from Poland is Belvedere Vodka. Belvedere

Vodka was the worlds first luxury vodka as it

was first made over 600 years ago. This

product has walked into foreign countries such

as U.S.A. and is now served at high class

restaurants and bars. Belvedere has perfected

their ways of vodka making and now sells a

variety of different vodkas to only the most

prestigious customers.

Belvedere has a comparative advantage because theyare able to make their vodka using the wheat fields that

they own in Poland. This ensures production costs are

cheaper, giving them a comparative advantage.

Krosno Glassware67

This company is popular for the elegant glassware that it

makes. Some of their finest glassware creations are

handcrafted by professional artists that live in Krosno,

Poland, giving them an absolute advantage as they have

access to these artists. They were founded in Krosno,

Poland in 1923 and began to produce glassware in the

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following year of 1924. Krosno became very successful as it started to

export as early as 1945. Krosno is a very well known Polish product and can

be found in most Polish homes. Krosno positioned themselves as a luxurious,

unique and a prestigious brand and with that positioning, they price theirproduct higher then other, ordinary glassware products.

Polish Pottery68

A polish company named Boleslawiec pottery is

another unique brand that makes pottery and

even sells its works in North America. The

business was opened in Boleslawiec, Poland.

What makes each product of theirs unique, is

that they are handcrafted and decorating using

very unique techniques in order to produce their

pieces. As said before, each piece is unique in itself making these pieces

rare and collectible. This company uses demand and supply, making very

little supply, creating a high demand for the product.

Polands AdvantagePoland has many attributes that give it a competitive edge over its

competitors.

1) Poland also has access to a young, educated workforce, that is

inexpensive, and which is a good opportunity for many businesses.69

2) Poland is part of many free trade agreements, one being the European

Union. The European Union gives Poland access to 27 very powerful

countries, bonding Poland economically and politically.70 Poland is also

involved in NATO.

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3) Polands cheap labour force makes it competitive against the some of the

fastest growing countries (China and India). This is possible because of

Polands involvement in the European Union and how the cost of

transportation has been influenced as a result of the EU.71

4) Polands corporate tax is one of the lowest in the EU, being at 19% which

is the 6th lowest.72

Poland was named the 5th most attractive country (for investment) as a

survey was done on company managers (in 2008).73Although Poland is still

ranked very high for most attractive investment. In 2011 Poland was ranked

as the 6th most attractive investment.74

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Most attractive country for future investments (2008)


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Manufacturing and Innovation

As for innovation, Poland was one of the first, if not the first to come out

with vodka. Belvedere Vodka was the first company (making Poland the firstcountry) to begin selling luxury vodka. Although many of the vodka

companies in Poland have become successful but do not exclusively sell in

Poland.75

Poland also had manufactured the first compressed air camera which was

used to make videos and films. This was crafted in 1910 and was the first

successful hand held camera. To say the least, Poland did influence the

future of cameras.76

Investment Opportunities77

As previously said, Poland is a great opportunity for Canadian firms to

perform foreign direct investments. Poland is in the same competition field

as China and India. Poland has inexpensive labour and has a very young,

hard working, and educated work force. The cost of labour ranges from 4 to

10 times of what a company would originally be paying for their workforce.

To add on to the benefits companies will get by investing in Poland,

manufacturing is almost 30% cheaper than in North America. This makes

the manufacturing industry a huge opportunity for companies and makes

Polands manufacturing industry more competitive than Chinas and Indias.

All these factors support why Poland is the fastest growing economy in the

European Union.If Poland is still not convincing as an opportune investment, consider that, in

the years 2003-2004, European countries saw an average of 6.5% increase

of foreign investments, Not surprisingly though, Poland saw an increase of

250% in the same period. This just goes to show that investors are taking a

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liking to Poland, with its cheap, educated labour and inexpensive

manufacturing costs.

Investment MethodsThe best risk method would be foreign direct investment in Poland. The

exact reasons were given in the section Investment Opportunities (provided

above). The workforce is very young and inexpensive, along with

manufacturing costing 30% less than usual, showing why foreign direct

investment the greatest opportunity for companies investing in Poland.

Furthermore, many Polish people are multilingual and speak both Polish andEnglish. A foreign direct investment would be very beneficial to any company

looking to manufacture goods as it can take advantage of Polands many

attributes.78

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Economic State

Polands economic state is rapidly growing as Poland is attracting a lot of

foreign investment and is a very outstanding country overall. Polands

workforce is one of the largest reasons for its success. 87% of Polish

students are mutilingual. The demographics of Poland shows that 50% of

the population is less than 35 years of age and 35% are under 25. This

proves Poland has a young workforce, ready to work for companies that will

invest in Poland.79

Polands economy was

booming in 2011s four

quarters. In each quarter

it dropped only 0.1% and it

started at 4.4%. Polands

growth rate was the fourth

highest of the European

Union and it is significantlyhigher than the average of the European Union (which is 1.6%).

Poland is one ofthe fastest economically expanding countries in the EU as it

is breezing by the competition at 4% growth. Although the market is

slowing down, but it will not slow down by a large amount. As the governor

of the National Bank of Poland, Marek Belks said, The economy is slowing

down. The recent data shows that the slowdown will not be dramatic.80The

predictions is that Polands growth rate will slow down to 2.5%. Although

Poland will still be the fourth highest country in the EU and will stay

significantly higher then the EUs average growth rate of 0.5%.81The reason

for the dramatic decrease is due to the European bank crisis. Poland will not

be hugely affected by this crisis as Polands economy has a very

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favorable structure. Poland does not rely on its exports but instead, its

industrial output, its large market and active consumers. Poland can very

likely get through this crisis unharmed.82

Poland is a very strong nation, and even though its growth is weakeningslightly it still seems to stay at the top when faced with the worst of crisis.

As Wenbo Hou, the general manager of the Bank of China in Poland said,

Even though Europe is in a financial crisis Polands economy still thrives and

has been the economy least affected by the crisis.83

The map tothe left shows the

countries that were negatively

affected by the European Debt

Crisis. As you can see, Poland is

the only one which has been the

least effected as its seen as the

green island, an economical

haven.84

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Part 3

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Infrastructure

Polands has a well built infrastructure as it is very easy to get around in

Poland. Poland has the Euro 2012 soccer championships coming up and the

Polish Infrastructure manager said that people will have no trouble getting to

or around Poland. Although since it will be busy, getting into Poland from the

borderlines, the airways would be the top choice for traveling into Poland.

Additionally in 2013 Poland is expected to receive 67 billion Euros to fund

the infrastructure of its country.85

Even the Bank of China is prioritizing its resources in infrastructure, energy

and new technology, making Poland have a very effective infrastructure.86

Here are some statistics about Polands infrastructure87:

Airports(2010): 129;

Paved Runways in Airports: 86;

Unpaved Airports: 43

Heliports: 7

Pipelines: Gas:

13680 km;

Oil 1,385 km

Railways: There are

19,428 km of

railways

Roadways(2008): 423,997 km

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Waterways(2009): 3,997 km (waterways are rivers and canals which can be

navigated by only small water crafts).

FacilitiesHotels:88

There are many hotels

in Poland. One hotel is

called the BRISTOL and

it is located on a very

elegant street, called

Kings Walk. This is a

luxury hotel and is even

inexpensive as they

offer the Best price

guarantee. By saying

this they mean that no

other hotel offers the same quality service and rooms at the same price.The price they offer is

210 Polish Zloty which

is equal to around 62

Canadian dollars.

To view their website

visit it here:

http://bit.ly/KrNbIa

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http://bit.ly/KrNbIahttp://bit.ly/KrNbIa


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Airports:89

The Frederic Chopin International Airport is located in Polands capital

(Warsaw) and is the largest airport in Poland consuming 834 hectares of

land. In 2008, this airport dealt with 50 percent of flights into and out ofPoland, proving that it is Polands most important airport.

To view the airport and to plan your trip using this airport, you can go to this

link: http://bit.ly/uFUkIg

Airports in Poland are very clean and have a well organized blue-print which

allows their airports to be very effective and efficient.

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Airlines in Poland:90

Flying in Poland,

there are many

airlines but thePolish Airline LOT is

the most

noticeable. It was

established in 1929

and became the

first aircraft in

western Europe to fly Boeing- manufactured aircraft. In 2008 LOT took a

loss and the Polish government has been trying to privatize LOT since 2008.

LOT is one of the oldest airlines, and now travels to 59 countries. If you are

planning to fly with LOT and for the prices to different areas visit here:

http://bit.ly/L0AgxV

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Office Spaces

Finding and renting office spaces in Poland is easy, flexible, and very popular

among corporate businesses that enter Poland. When businesses establish a

headquarters in Poland and they can rent a suite. As said before this is very

flexible, as they can add more workstations and increase the size of their

suite(s) as they hire more people to work for them in their office spaces.91

One very noticeable, high end office space is on Domaniewska Street,

Warsaw. This is a fully furnished, high quality building that offers office

space. They also offer92:

- Meeting rooms

- Common Areas

- Video conferencing areas

- Shared space

- Virtual Offices

- High speed internet

- Modern technology (Cableand telephone systems)

- Broadband Access

- All day access

- Air Conditioning

- Lifts

- On site car parking

- Telephone answering

- Admin Support

Luckily office space by Domaniewska Street is located close by to a PKS train

station. Furthermore they are located near stores such as shopping centers,

hotels and restaurants which is why this office space is a favorable area.93

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The price has to be agreed upon when contacting the office. To contact, call

08701127890.

Recent ChangesThere have been some recent but minor changes that have had an impact on

the business environment in Poland. Luckily Poland has a safe government,

as they moved away from communism many years ago. Polands currency

took a big hit from the European debt crisis in 2011, although, as said

before, Poland was the European country which was least affected by this

crisis. Poland was able to rebound right back and Polands currency now

ranges from 3 to 3.5 points, but it is stabilizing even more. Currently, in

2012, businesses should still consider the small fluctuations of the Zloty

when making business deals.94

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Poland has very competitive tax rates which is why many companies like to

invest in Poland. Polands tax on corporate profits is 19%, which is tied with

the seventh lowest tax rate in the EU. This is one of the many reasonsPoland is seen as a competitor against countries

like India and China.95

Tariffs in Poland are an important

factor to consider for businesses as

well. First of all, Poland is involved

in many economic communities such

as the European Union and EFTA.

Apart from Switzerland, Poland is

also able to trade freely with other

members in the agreements. As for

countries that Poland is not in a free

tariff agreement with, there are

certain tariffs. These tariffs

fluctuate between products, and

these tariffs are used by the entire

EU.96

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TradeDisputes

Poland has had a trade dispute with Russia in the past. What had originally

happened was that Russia banned Polish meat products from being imported

into their country. Russia said they banned it due to the fact that the Polish

meats were low quality. Poland then retaliated at the EU conference by

vetoing the talks of a new treaty with Russia. The trade dispute ended in

2007 when an agreementwas made that only high quality meat products to

Russia would be exported.97

Poland is not in any current day(as of June 2012) trade disputes with other

countries.

Trade Agreements

Poland is in many trade agreements between other countries.

1) First Poland signs the WTO (World Trade Organization) treaty in 1995.98

The WTO is an international organization that monitors trade agreements

and rules between nations. The WTOs goal is to help businesses achieve

success in foreign markets.99

2) Poland joined the OECD (Organization for Economic Co-Operation and

Development) in 1996.100 The reason for the creation of the OECD was to

promote economic agreements which would promote the economic and

social well being of people around the globe.101

3) Poland joined NATO (North Atlantic Treaty Organization) in 1999.102

NATOs purpose is to protect the security of its members through political

and military means. NATO has been a big help in stabilizing the political

environment.103

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4) Poland joines the EU (European Union) in 2004.105 The purpose of the

European Union is to tighten the economic and political ties between

countries in Europe. Most of the countries in the EU (except for Poland)

have adopted the Euro. There are 27 countries in the EU.105

5) Finally the last trade agreement that Poland got involved in was the

Schengen agreement, in 2007.106 The Schengen agreement gets rid of

people needing passports to cross over or to move between some

European countries.107

The amount of agreements Poland has participated in gives it a lot of access

to other countries' resources and provides Poland with many benefits (such

as free trade).

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Polands Relationships

WTO108

Polands has been a member of the WTO since 1995. Poland has followed

the rules applied by the WTO keeping a good relationship with all the

members in the WTO. Polands previous schedules with the WTO were

revised before they entered the EU. Poland, as said before, did end up

joining the EU.

IMF109

The IMF (International Monetary Fund)

has a good relationship with Poland. The

IMF was so impressed with Poland, that

the IMF granted Poland a loan in 2010.

Although Poland has not yet needed to

draw on this funding by the IMF. Also, like

many others, the IMF is amazed that

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Poland in the WTO.

The IMF believes Poland can thrivewith it!s high domestic demand.


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Poland was able to stay afloat during the debt crisis while the countries

around them were facing so many problems.

World Bank

The World Bank has a good relationship with Poland, and has helped

Poland in three main ways:

i) Assisted with the preparation and implementation of programs,

programs which include reducing the seriousness of social problems.

ii) Given advice/ recommendations on the public sector, and also

helped with problems Poland would face in the EU.

iii) Recommendations to improve the environment, social sectors andmanaging private investments such as infrastructure.

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Part 4

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Culture Overview

Poland, just like many other cultures has customs of what is accepted and

not accepted in society.

Taboos/ Tips110

A taboo is something that is prohibited or restricted by a social custom.

- Polish people will be quite formal upon initial contact, be very respectful

and try to seta good impression

- Handshake every time you meet and / or leave

- Womens hands are shaken before males, elderly women shaken before

younger women

- Holding doors open for women is standard

- Always respect your elders, offer them seats on buses, etc.

- Do not use first names when referring to others, instead Mrs. or Mr.,

followed by their surname, although it is rude to refer to someone only by

their surname

- Calling someone Doctor or Professor is also impolite

- Do not ask a females age

Gestures111

- It is insulting to stick up the middle finger at someone

- It is insulting to point to someone with your index finger

- To invite someone for a drink, flick your neck

- (Non business partners) When you greet someone from Poland a light kiss

on each cheek is accepted

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Colours112

The colours of the Polish flag represent something important to the Polish

people. The Polish flag is red and white, and sometimes has a symbol of an

eagle on the white part. The colours on the Polish flag symbolize the

national coat of arms which is a white eagle on a red shield. The red

symbolizes the blood that was lost for thecountries fight for independence.

The white of the flag symbolizes peace.

Numbers

The emergency number, (the relative to 911 in Canada) is 112. Although

there are direct phone numbers to emergency stations (given below):113

999: Ambulance

998: Fire Brigade

997: police

981: Road Assistance

986: Municipal police114

There are no lucky numbers but there is an unlucky number considered to

some Polish people. Some Poles believe the number 13 is unlucky, that youshould never have 13 people at a dinner. The reason for their beliefs is

because of their religion. In the bible, there were 13 present at Jesus

Christs Last Supper. One of the disciples betrayed Jesus Christ, allowing for

crucification. There are many other reasons for why Polish people believe in

13 being unlucky, although they are all superstitious and some Polish people

do not believe in any unlucky numbers.115 As Ewa from BBC languages said,

Its something like fairy tale... Its nice to hear but its impossible to believein.116

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Holidays

Poland has many holidays that are similar to Canada but they also have

holidays that Canada does not have. These are the holidays and their dates

for the year of 2012:

On January 6 a holiday called Epiphany will be

celebrated. Epiphany is celebrating the event of

Christ being baptized. 117 This is a national

holiday that was reinstated in 2011. (Epiphany

was discontinued due to communist rule.)118

On May 27 anotherholiday called the Pentecost

will be celebrated. The Pentecost celebrates the

gift of the Holy Spirit. Like any other holiday in

Poland, Poles take this day off.119

On June 7 the holiday of Corpus Christi is

celebrated. This day celebrates the day before

Christs crucifixion.120

These are the holidays that are important to Polish people and are also

holidays that most Canadians do not celebrate. Polish people also celebrate

what we celebrate such as Christmas.121

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The three gods in Epiphany

Bread and wine are usually offered during Christian Holy

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Business Etiquette122

Knowing and understanding proper business manners and proper business

etiquette is essential to know when entering a foreign country. Just like

other countries, Poland has its own customs that people are expected to

follow when conducting business in Poland.

Greeting:

- A strong and confident handshake

- Make good eye contact when you are first meeting the person

- Call people by their Mr. or Mrs., followed by their last name

- When leaving the group, do not say a general goodbye, instead say

goodbye to each individual separately

- Wait for women to extend their hand first upon initial meeting

- Let women walk through doors first and hold the door for them

Communication:

- The key to being successful is to create a strong trust between you and

your partners- In order to get to know your business partners you should meet and talk

over food, unless it is brought up by the other party

- When invited, or when you invite your partners, to go eat, the host pays

the bill, although it is polite to offer

Meeting and Negotiating

- Presentations should be organized and the speaker should be confident

- Make sure you do not offend anyone as it will negatively impact your

meeting

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Activities and Traditions

Going to the movies, music

festivals and visiting art

galleries or museums are all

popular activities that Poles like

to participate in on their spare

time. The most popular sport is

soccer, followed by athletic

sports (such as cycling) and

boxing.123

On average, Poles watch four hours of television everyday. Going out with

friends, to places such as the mall, is becoming more popular.124

Another popular activity is growing and harvesting vegetables or growing

flowers. Polish people find these activities relaxing and takes their minds off

of their busy lives.125

Music is very important to all Polish people. The folk music of Poland still

dominatesmany of the festivals Polish people have. Many music festivals are

held in Poland.126

Although the younger generation is now moving towards more American

style music. One music festival that is going to be held in Poland is Coke

Live Music Festival. Coca Cola is holding this music event from August 19-

20, 2012 and will have Kid Cudi and Kanye West perform at their festival.

This is being looked forward to by many younger Polish people, and justgoes to show that the younger generation (1980s and up) are moving

towards American style music.127

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Another popular foreign brand that is holding a festival in Poland, is

Heineken. Their concert will be taking place on July 4th to 7th.128

Some Polish people will also have a Polish Day. This is a recreational event

which has been celebrated for the 140th year in 2012. It is celebrated bysome Polish people because it is the day that Polish people first settled in the

Waterloo region. During this day Polish people would get together and have

polish foods such as kielbasa, pierogi and perform traditional dances and

wear traditional clothing.129

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Poles celebrating Polish day wearing traditional clothing.


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Culture Difference

Poland is different then Canada, and if someone was to living in Poland they

might notice some cultural differences.

Although, Poland is moving towards North Americas culture and if you can

remember the Taboos and correct business etiquette, you will be off to a

good start to understanding Poland.

If someone who has moved to Poland, enjoys

going out for breakfast at cafes, they may

experience a difference. Breakfast foods that are

common in cafes in Canada, are not common in

Poland. In Poland, someone would usually buy

toast, sandwiches or cakes.130

Other than breakfast, the rest of the day may

seem a lot like Canada, as you can do many

things such as go out to the mall, clubs or the

movies.131

Geert Hofstede132

Geert Hofstede is a professor that came up with 5 categories in which he

would rank a country and its culture. Each category is out of 100.

Power Distance (PD)

PD is the idea that individuals are not equal. In a company it would be howless powerful members help with decisions etc.

Poland received a PD of 68. For business, this means that people in Poland

with more wealth/ power will make the decisions, while people with less

power will only follow the decisions.

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The above are Polish cakes.


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Individualism (IDV)

INV is the idea of how dependent people in a country are.

Polands INV rating is 60. For business in Poland, this means that people in

Poland will work to make money to support themselves and their family.Furthermore an employer/ employee relationship will be determined on the

benefits each person is receiving from the other. (i.e. Receiving more pay

means that the people in Poland working for you will be happier.)

Masculinity / Femininity (MAS)

This factor is the idea of how men will dominate in the workplace. This is

traditional female male roles.

High score means men dominate the workplace.

Low score means there is equality in the workplace between males and

females.

Poland was ranked 64 on this section. This means that men will dominate

the workplace and be making the most important decisions.

Uncertainty Avoidance (UAI)

This is a countrys thought process, of how much impact they will have on

their future. The two general questions are, Should we try to control our

future? (which is a high rating) or Should we just let our future

happen? (which is a low rating).

Poland scored extremely high, getting a 93 on this section. This means that

Polish people do not like uncertainty about their future to. This is helpful for

business because this means that people like to know what they are getting

paid, and when, and will work hard as long as they know they will be

rewarded in the end.

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Long Term Orientation

This dimension determines how important the future is to people in a

country.Poland scored a 32, which means Poland is a short term culture. You can

use this information for business because people in Poland like to see results

in the short term. These results can be getting a task done, and being

rewarded for what they have done.

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The above is Geert Hofstedesrankings for Poland in each of

the dimensions (the 5

categories).


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Part 5

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5 Risk Assessments

Doing business in Poland is seen as a very good choice among many

companies and people. Foreign direct investment is the most favorable

investment for a country, and has been increasing in Poland.

Political Risk

Luckily Polands government is stable and there are no major legal issues or

requirements that would hurt business. The government of Poland now uses

the same government system as Canada, so they will not do any acts that

would harm businesses (unless a business made some huge legal errors).

Poland has moved away from communism years ago, and since Poland has a

stable government, the political risk is very low.

Economical Risk

The Polish Zloty is weaker then Canadas currency but is still a stable

currency. The Zloty does not have huge swings in its value. Poland is a

developed country but it is still developing to reach the developed statusthat Western countries have reached (such as Canada and the U.S). Poland

was also the European country which was able to best handle the European

debt crisis. Along with its stable economy, Polands economic risk is low.

Social Risk

The social/ cultural risk of Poland is low when coming from a country of

North America, such as Canada. This is because Poland is becoming a lot

more westernized and is forming many North American cultural preferences

(such as movies and shopping at malls). When going to Poland, there are

only small differences that a business would have to watch out for. (Such as

shaking the womens hand first.)

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Technological Risk

For the technological risk, technology is becoming an increasing want in

Poland. Due to this, more foreign direct investments are needed so thatPoland can stay technologically advanced and up to date. Additionally,

businesses in Poland will have no problems accessing business essential

materials (such as wi-fi to access the internet) as it can all easily be found

and set up in Poland. This makes the technological risk very low in Poland.

Natural Risk

Poland has a wealth of natural resources. These resources provide

inexpensive shipping for businesses in Poland (such as geothermal waters).

The weather in Poland is also very manageable. Poland has cold winters and

mild summers. Acknowledging that, businesses should not have any

problems setting up and running their business with the workers they hire.

Poland is also becoming more eco-friendly. Poland definitely has a low

natural risk as it does not experience hurricanes or tornados like other

countries.

Overall Risk

2.5/ 10 = Low risk

On a scale of 1 to 10, 1 being low risk, 10 being high risk, Poland scores 2.5

meaning that the country has low overall risk. Poland has a very low risk for

investments.

This was the ranking of the previous risks:

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Political 1/10

Economical 2/10

Social 2/10

Technological 3/10

Natural 3/10

Considering the fact that Poland is doing a great job in maintaining a stable

government and maintaining a stable economy despite its neighbors, there

are few precautions that a business would need to take.

Political Precautions:

Make sure to follow the laws established and set by the Polish government.

Economical Precautions:

As said before, Poland is able to keep a stable economy while the rest of its

neighbors suffer from economic crisis such as the European debt crisis.

Although businesses need to make sure to do research before performing aforeign direct investment in Poland.

Social and Cultural Precautions:

Make sure to follow the cultural and social etiquette, which is listed on pages

44 and 47. These social expectations should be practiced and remembered

before contacting businesses in Poland. Social etiquette is very similar to

Canadian culture so it will not be difficult to remember proper etiquette.

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Technological Precautions:

Poland is advancing in technology, and now has access to many technologies

that businesses would use (such as phone and internet service). Poland is

also developing its clean energy sector (such as solar power technology). Allof these factors show that Poland is technologically developed making

technology a low influencing factor/ risk.

Natural Precautions:

Poland does have winters that are similar, but less harsh than Canada.

When opening a business in Poland it is important to consider these winters

during periods where a company would like to set up new locations and do

construction. Due to Polands winter, businesses will need to take winter into

thought when performing certain projects.

Investing

Poland, a nation that has surprised many people by pulling through thehardest of times. Poland is a very different country when compared to

Canada or the United States. The culture is different, the holidays are

different, and most importantly the business performed in Poland, is

different.

Poland is an amazing opportunity that businesses should recognize, and by

doing so businesses can make a high return. Poland may be one of the most

favorable countries for foreign investment.

Poland has not only been granted a wealth of natural resources such as

having a large coal supply, but they have a highly educated, young

workforce. This workforce is one of the many reasons why Poland is able to

attract so many investments from other countries.

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All the information collected from part 1 through 5, shows that Poland will be

a good choice for an investment. Poland is a fast developing nation, one of

the largest nations in the EU. Poland has been developing and growing itseconomy and infrastructure for many years. Many foreign investments have

taken place and more will take place as Poland will need more to support its

technological growth.

The best investment option for Poland, as stated many times before, is

foreign direct investment. Although, there are some other options for

performing foreign direct investment in Poland. Companies that should

invest in Poland should be companies that are able to manufacture products

in Poland. Since the cost of manufacturing is 30% less than the average of

other countries, companies will save a lot of money if choosing to invest in

Poland.133Not only are the manufacturing costs less but the young, educated

workforce, costs less. All these reductions in a businesses costs further

show whyPoland is such a great investment opportunity. To be specific, the

manufacturing of Polands infrastructure will most likely bring the highest

returns since the infrastructure in Poland has huge amounts of money being

put into it.

Poland can be seen as Chinas competitor, but even China is choosing to

invest in Poland. One of the reasons they are choosing to invest in Poland, is

because of Polands market stability despite any crisis Europe might be

facing.134

This proves that Poland is a great investment opportunity for foreign direct

investments and for businesses that will manufacture or invest in its

infrastructure. Along with the opportunity of foreign direct investment,

Poland has diversified itself with trade agreements (such as the EU). These

relations give Poland more benefits and trade opportunities with other

countries that are involved in the same agreement.

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7"Poland." Worldmark Encyclopedia of Nations. 2007. Encyclopedia.com.12Mar. 2012.

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9 Bugajski, Jamusz. Poland. World Book Volume 15. First edition. 2010.Print.

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16Bugajski, Jamusz. Poland. World Book Volume 15. First edition. 2010.Print.

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18"Convert Polish Zloty to Canadian Dollar | PLN to CAD." The MoneyConverter. 4 June 2012. Web. 04 June 2012.

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Endnotes
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22Poland - Economy. Encyclopedia of the Nations.Advameg, Inc. 2012.Web. 12 Mar. 2012.


24iBid

25iPhone World Clock.

26"Poland Hotels, 1000 Hotels in Poland, Travel & Tourism Database by LocalTour Operator." Stay Poland. Stay Poland Travel, 2012. Web. 03 June 2012.


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29

Seputyte, Milda. "EU Sees Poland's Economy Expanding at Fastest Pace inBloc." Bloomberg. Bloomberg, 11 May 2012. Web. 28 May 2012.


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33U.S. Department of State. Republic of Poland. 2012. Web. 14 Mar 2012.

34

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39Embassy of the Republic of Poland In Ottawa. Polish- Canadian

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41"PKN ORLEN." Orlen. PKN ORLEN, 2012. Web. 03 June 2012.

42"Company." FSO S.A.FSO, 2012. Web. 03 June 2012.


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43"Aveo 100 000!" FSO S.A.FSO, 01 Feb. 2011. Web. 03 June 2012.

44"University of Warsaw." University of Warsaw. UW, 2012. Web. 03 June2012.

45

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47"Nicolaus Copernicus | Cleric and Astronomer." Ludicafe: Library. Web. 04June 2012.


49 "Europe :: Poland." CIA - The World Factbook. Directorate of Intelligence,

3 May 2012. Web. 28 May 2012.

50"Poland." Worldmark Encyclopedia of Nations. 2007. Encyclopedia.com.12Mar. 2012.

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56"Poland Pushes for Saudi Investment in Key Projects." Zawya. Arab News,25 Apr. 2012. Web. 01 June 2012.

57"Poland Welcomes More Chinese Investment." China Daily. CDIC, 24 Apr.2012. Web. 31 May 2012.

58"Poland Squeezes Cash out of State Firms." Reuters. Thomson Reuters, 30

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60"Poland." World Bank. The World Bank Group, 2012. Web. 03 June 2012

61http://bit.ly/HJ2U37 (Crashed Link)
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62"Convert Polish Zloty to Canadian Dollar | PLN to CAD." The MoneyConverter. 4 June 2012. Web. 04 June 2012.

63Sobczyk, Marcin. "Any Exit from Euro Would Crown a Disaster, PolishCentral Bank Chief Says." WSJ.com. Dow Jones & Company, Inc., 2012.

Web. 25 Apr. 2012.64"Natural Resources." Poland.gov.pl. Ministry of Foreign Affairs, 2008. Web.24 Apr. 2012.

65 "Newsletter." Startseite. European Regional Development Fund, 2011.Web. 25 Apr. 2012.

66"Heritage and Authenticity." Belvedere Vodka. Belvedere, 2012. Web. 25Apr. 2012.

67"Krosno."About Us - Krosno. Krosno, 2010. Web. 28 May 2012.

68"About Us." Polish Pottery. Teresa Beach Polish Pottery, 2006. Web. 28May 2012.

69"Why to Invest in Poland?" Poland Government. Ministry of Foreign Affairs,2008. Web. 28 May 2012.

70"How the EU Works." EUROPA. European Union, 2012. Web. 28 May 2012.

71"Why to Invest in Poland?" Poland Government. Ministry of Foreign Affairs,2008. Web. 28 May 2012.

72Wach, Krzysztof. "Doing Business in Poland." Cracow University ofEconomics, 2008. Web. 28 May 2012.

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75"Heritage and Authenticity." Belvedere Vodka. Belvedere, 2012. Web. 25Apr. 2012.

76Herbert, Stephen. "Kazimierz Proszynski." Victorian Cinema. 2011. Web.28 May 2012.

77"Foreign Direct Investment in Poland." Pure.au.dk. AARHUS School ofBusiness, 2009. Web. 3 June 2012.



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80Dube, Ryan. "Poland's Belka Says Economic Slowdown 'Not Dramatic'"NASDAQ.com. NASDAQ, 25 May 2012. Web. 28 May 2012.

81Dept. of Investor Relations. "Polands GDP Growth." Bloomberg. Agnieszka

Steindl, 10 Jan. 2012. Web. 28 May 2012.

82Seputyte, Milda. "EU Sees Poland's Economy Expanding at Fastest Pace inBloc." Bloomberg. Bloomberg, 11 May 2012. Web. 28 May 2012.

83"Bank of China to Aid Chinese Investors in Poland - Warsaw BusinessJournal - Online Portal - Wbj.pl." WBJ. Warsaw Business Journal, 29 May2012. Web. 29 May 2012.

84"Poland Defies Global Crisis." Poland. Ministry of Foreign Affairs, 2011.Web. 29 May 2012.

85Agencies. "Poland's Infrastructure Ready for Euro 2012 - Polish Minister."Global Times. The Global Times, 22 May 2012. Web. 29 May 2012.

86"Bank of China to Aid Chinese Investors in Poland - Warsaw BusinessJournal - Online Portal - Wbj.pl." WBJ. Warsaw Business Journal, 29 May2012. Web. 29 May 2012.


88"Bristol in Warsaw."

Bristol in Warsaw. Travel Online, 2012. Web. 29 May2012.

89"Warsaw Airport." Warsaw Life. Poland Travel Guide, 2012. Web. 29 May2012.

90Boulden, Jim. "Polish Flag Carrier Emerges from Turbulence." CNN. CableNews Network, 25 May 2012. Web. 29 May 2012.

91"Global Office Space to Rent in Poland." Office Broker. Office Broker, 2012.Web. 29 May 2012.

92"A Domaniewska Street Serviced Office." YourCityOffice. Your City Office,2012. Web. 29 May 2012.

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94iPhone, Stocks Application.Apple. 29 May 2012. Web. 29 May 2012.



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96"Import, Export and Tariff Regulations, EU Regulations." PolandGovernment. Ministry of Foreign Affairs, 2011. Web. 29 May 2012.

97Vatutin, Alexander. "RUSSIA AND POLAND SETTLE TRADE DISPUTE." Voiceof Russia. Moscow Time, 13 Dec. 2007. Web. 29 May 2012.


99"What Is the WTO?" WTO. World Trade Organization, 2012. Web. 29 May2012.


101"About OECD." OECD. OECD, 2012. Web. 29 May 2012.


103"NATO - North Atlantic Treaty Organization." NATO. NATO, 2012. Web. 29May 2012.


105"Basic Information on the European Union." EUROPA. Europa, 2012. Web.29 May 2012.


107"Q&A: Schengen Agreement." BBC News. BBC, 03 Dec. 2012. Web. 29May 2012.

108"Poland and the WTO." WTO. WORLD TRADE ORGANIZATION, 2012. Web.29 May 2012.

109"IMF Survey: Poland Continues As Bright Spot in Region." IMF.

International Monetary Fund, 3 Feb. 2012. Web. 29 May 2012.

110"Polish Culture Profile." Diversicare. Diversicare, June 2006. Web. 29 May2012.

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112"National Flag of Poland." World Flags 101. Web. 29 May 2012.


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113"Poland Emergency Phone Numbers." Stay Poland. Stay Poland, 2012.Web. 29 May 2012.

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115"Why Is the Number "13" Considered an "unlucky" Number?"Answerbag.

AnswerBag, 13 Nov. 2010. Web. 29 May 2012.

116Ewa. "BBC Superstitions." BBC News. BBC. Web. 29 May 2012.

117Harper, Douglas. "Epiphany." Dictionary.com. Dictionary.com, 2012. Web.29 May 2012.

118Palka, Ella. "Epiphany Holiday Celebrated in Poland." WBJ. WarsawBusiness Journal, 30 May 2012. Web. 29 May 2012.

119"Pentecost." BBC News. BBC, 23 June 2009. Web. 29 May 2012.

120"Corpus Christi." TimeandDate. Time and Date, 2012. Web. 29 May 2012.

121"Holidays in 2012." Poland Government. Ministry of Foreign Affairs, 2012.Web. 29 May 2012.

122"Doing Business in Poland." Kwintessential. Kwintessential, 2012. Web. 29May 2012.

123"Polish Culture Profile." Diversicare. Diversicare, June 2006. Web. 29 May2012.

124

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127Coke. "Coke Live Music Festival." FestivalEurope. European Festivals,2012. Web. 29 May 2012.

128Heineken. "Heineken Opener Festival." FestivalEurope. EuropeanFestivals, 2012. Web. 30 May 2012.

129Lowe, Janek. "Polish Day Celebrates History, Culture." TheRecord.Mertoland Media Group, 6 May 2012. Web. 30 May 2012.

130"Warsaw Guide." SWPS. University of Social Sciences and Humanities,2012. Web. 30 May 2012.

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132"Poland - Geert Hofstede." Geert Hofstede. Itim, 2012. Web. 30 May2012.



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Poland Trade Manual