Swedish furniture group Ikea wants to invest €1 billion annually in Poland, Deputy Prime Minister and Economy Minister Janusz Piechociński said on Thursday, speaking at the opening of a furniture factory in Wągrowiec.

“I have just finished talks with them, there will be investment into new production plants,” Piechociński said. “This shows that it is worth trusting Poland and cooperating with the country,” he added.

The deputy PM stressed that Poland is the world’s fourth largest furniture producer and the biggest furniture exporter in Europe. Some 40 percent of all furniture sold by Ikea worldwide is produced in Poland, he added.