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Post-Communist Economies, Vol. 13, No. 1, 2001The Impact of Foreign Direct Investment on Poland’sTrade with the European UnionMARZENNA WERESAAbstractOver 75% of FDI in Poland originates from the EU. The EU also predominates in the exports and imports of FDI companies. The objective of this article is to examine whether FDI is likely to replace trade or to create new trade ?ows. In particular, the article shows the in?uence of FDI on Poland’s trade with the EU. The FDI impact on Polish trade can be seen as its contribution to export creation. Moreover, externalities caused by trade and FDI in?ow are in?uencing Polish specialisation patterns, which is important in the process of integrating the economy into the world market.In today’s global economy not only goods but also some assets—for example, money, people, knowledge—can move more freely across national borders than they did previously. There are two alternative ways to deliver goods and services to foreign markets: international production and trade. This means that there should be some interrelationship between the two. This is con? rmed by the positive correlation between world Foreign Direct Investment (FDI) stocks and world exports. Thus, trade and direct investment are interconnected. Moreover, FDI ? ows have recently grown much faster than world exports. As Dunning (1998, p. 78) observed:At one time, the main avenue for commerce was arm’s length trade—the most shallow form of integration. In the last decade or so, the deep integration forged by multinational enterprises and a host of cross-border strategic alliances and other forms of inter-? rm cooperation have replaced trade as the main forms of international transaction.The objective of this study is to examine the impact of FDI on a country’s trade performance. The analysis includes a review of some theoretical approaches and the empirical evidence for Poland’s trade with the European Union.The restructuring of the Polish economy that started in 1990 c