The UAE and Austria are exploring opportunities to improve trade and investment relations
ABU DHABI, 1st February / WAM / His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of Foreign Trade, welcomed Her Excellency Beate Meinl-Reisinger, Minister of European and International Affairs of Austria, and her accompanying delegation of business leaders and executives, during a business roundtable meeting with the participation of representatives of the two friendly countries, aiming to enhance cooperation within the private sector between Emirati and Austrian companies and advance bilateral economic relations.
The meeting comes on the heels of the first UAE-Austrian business session held in November last year, demonstrating the two countries’ commitment to accelerating the growth of trade and investment flows between them.
During the Emirati-Austrian business meeting, His Excellency Dr. Al Zeyoudi highlighted the importance of Austria as a strategic partner in the European Union, noting that the value of non-oil trade between the UAE and Austria will increase by 15.8% in 2025 to reach $2.1 billion.
Al-Zeyoudi stressed: “Our partnership with Austria continues to develop, providing promising opportunities for trade and investment that serve the interests of both countries. By fostering cooperation within the private sector, we open new horizons of mutual benefits within sectors including technology, renewable energy, and advanced manufacturing.”
In turn, Her Excellency Beate Meinl-Reisinger stressed that the UAE is Austria’s most important trading partner at the level of the Gulf Cooperation Council countries, and a very important strategic partner. From this standpoint, my official visit to the country comes with a delegation of businessmen to consolidate these extended relations.
She said: “I discussed with His Excellency Dr. Thani Al-Zeyoudi ways to increase the volume of trade exchange and enhance economic cooperation in multiple fields, including artificial intelligence and sustainability. We also reviewed the latest developments in the negotiations of the Comprehensive Economic Partnership Agreement between the European Union and the UAE.”
She added: “As an export-based economy, Austria benefits directly from free trade, whether with blocs like Mercosur, with India, or with the UAE. Therefore, I hope that a final agreement will be quickly reached. In light of growing protectionist trends globally, we need to open doors, not close them.”
Al-Zeyoudi called on the Austrian business community and the accompanying delegation to take full advantage of the investment system in the UAE, which provides a supportive and interconnected platform for growth that enables expansion in the Middle East, and in Africa and Asia as well.
From the Emirati side, representatives of Response Plus Medical, Masdar City, Kizad, Aldar, Dubai Chambers, the Abu Dhabi Chamber of Commerce and Industry, and the Federation of Chambers of Commerce in the Emirates participated in the meeting. While the Austrian business delegation included representatives of Bene, Lohmann & Rauscher, Microtronics Engineering, Planradar, Tridonic & Co, VA TECH WABAG, OMV, Store Makers, Unger Stahlbau, Kny Design and Primetals Technologies.
The meeting also witnessed a series of bilateral sessions between Emirati companies and their Austrian counterparts. These sessions focused on deepening bilateral ties between the private sectors in the two countries within key high-growth sectors for the future. At the conclusion of the business session, participants expressed a collective commitment to identify and pursue cooperative projects in advanced manufacturing, renewable energy, tourism, and technology that will enhance trade relations, generate job opportunities, and foster long-term economic growth that advances the interests of both countries.
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