Globalization Will Prevail in Times of Uncertainty

Press release
Sopot, 1 October 2015
Globalization Will Prevail in Times of Uncertainty
Nowy Styl Group and Samsung are winners of the Emerging Market Champions Award.
Nowy Styl Group has been recognized for its activity on foreign markets and for
takeovers of companies in Germany, Switzerland and the Netherlands. Samsung owes
the acclaim of the award jury to its foreign investments in Poland. The competition
was organized by Citi Handlowy.
The award ceremony was held before the panel ‘World Economy in Times of Uncertainty’, which
forms part of the European Forum for New Ideas in Sopot.
‘I am glad that Emerging Market Champions now occupies a slot in the EFNI calendar’, said
Sławomir S. Sikora, President of the Management Board at Citi Handlowy, when asked to comment
on the results of the competition. ‘This competition is a product of more than ten years of our
experience in cooperation with Polish enterprises, which are now executing their development plans
on foreign markets, and with emerging markets companies. These enterprises receive our support
and they invest in Poland. The cases of our laureates are all examples of excellent practices - I
hope they will become a point of departure for the EFNI discussions on the future of Polish,
European and local economies', added Sikora.
The award ceremony was followed by a panel discussion dedicated to the future of global economy.
Its moderator, Andrzej Olechowski, Chair of the Supervisory Board at Citi Handlowy, remarked halfjokingly that the time of lunatics has come. The financial crisis has spun the economy out of
balance. Prices of raw materials are falling, stock exchanges are going through ups and downs,
international trade is now on its last legs. There are a lot of worrisome phenomena in politics - we
have recently witnessed the emergence of the so-called Islamic State, while a large European
country invaded its neighbour. 'Wars waged in Africa and in the Middle East have ousted 50 million
people from their homes', added Olechowski.
A.S. Ramachandran, Global Emerging Markets Coverage Head at Citi, agreed that we are living in
difficult times. In the financial sector, we are dealing with globalization, overregulation and
digitization. 'Globalization is not leaving us, it is here to stay for a while. Banks must adjust to the
new expectations of their clients. In the wake of the financial crisis, banks have been hit hard by a
wave of regulations which stifle the industry and act as an investment disincentive. On top of this,
they often fail to bring the expected results. This is why it is so important to turn to ethics in
business, to good practices. Digitization heralds a major revolution in the world of finances', said
Ramachandran.
Peter Baudrexl, CEO at Siemens Poland, also mentioned the uncertainty of our times.
'Will there be space for new demand, which could drive new investments, in this kind of
atmosphere?', Baudrexl asked. 'We can see that there are no investments in politically unstable
countries. It is also important to maintain a balance between science and business. These relations
function well in the USA, much worse in Poland', added the Siemens CEO.
Piotr Dziwok, President of the Management Board at Shell Poland, argued that the energy sector
exerts great influence on the modern economy. Energy demand has been steadily growing for
many years and it is expected to be from 30 to 40 percent higher by the year 2040. The current
deposits of coal and gas will not satisfy all the needs. The problem will not be solved by renewable
sources of energy either. In his opinion, we have no choice but to start a quest for new energy
sources.
Marcos Bonturi, Global Relations Director at OECD, spoke of the consequences of the 2008-2009
financial crisis. 'The economies of the USA and of Europe are picking up slowly', he believes.
'Emerging markets have weakened, especially China, Russia and Brasil. Trade growth is not keeping
pace with the growth of GDP, investments are crippled and they have not bounced back to the precrisis levels. We're witnessing a productivity slump. Small and medium enterprises are finding it
increasingly difficult to catch up with innovative companies. Last but not least, social inequalities
are widening, both in developed countries and in emerging economies', Bonturi said.
Citi Handlowy was the partner of the panel discussion.
***
THE EUROPEAN FORUM FOR NEW IDEAS is an international business congress attended by prominent representatives
of politics, culture, science, and media. It has been organised since 2011 by the Polish Confederation Lewiatan in
cooperation with BUSINESSEUROPE, the city of Sopot, and Polish and foreign companies and organizations. The Forum is
aimed at creating ideas for a strong Europe and a competitive economy, a Europe open to trends of social growth and
technology. This year's EFNI will be held on 30 September – 2 October 2015 in Sopot, and its theme is: Europe and the
World in the Face of Growing Inequality, Radicalism, and Geopolitical Threats
More information: www.efni.pl
Honorary patronage
Institutional partners
Strategic partners
Opening Gala partner
Main partners
Supporting partners
President of the Republic of Poland, European Parliament
Polish Industrial Development Agency S.A., European Commission, National Centre
for Research and Development
MetLife, PKN ORLEN, PZU, Totalizator Sportowy, Dziennik Gazeta Prawna, Grupa
Onet.pl, TVP SA
Bank Pekao S.A.
Biznes.pl, BMW, Citi Handlowy, Discovery NETWORKS CEEMEA, Forbes, France 24,
Intel, Microsoft, Newsweek, Orange Polska, Parkiet, PKP S.A., Silvermedia
AMS, Bloomberg Businessweek Polska, Gazeta Wyborcza, Havas Worldwide,
Liberté!, McCANN Worldgroup, PAP Polish Press Agency, PGNiG SA, Polish
Association of Employers in Mining Industry, Pomeranian Special Economic Zone,
Puls Biznesu, Starcom MediaVest Group, Polish Association of Employers in
Transport and Logistics, Warsaw Business Journal Observer, Association of Private
Employers in Energy Industry, Digital Technology Employers Lewiatan
Knowledge partners
Logistics partner
Official carrier
Executive Producer
Ashoka, Aspen Institute Prague, Centre for International Relations, demosEUROPA
– Centre for European Strategy, ECFR, Institute of Public Affairs, POLITYKA
INSIGHT, Res Publica Nowa, THINKTANK, Global Compact in Poland – an Initiative
of the UN Secretary General, World Academy of Art and Science
Lech Wałęsa Airport in Gdańsk
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MEDIA CONTACT:
Zbigniew Maciąg, [email protected], phone number: +48 604 589 080