UAE And Austria Discuss Strategies To Enhance Trade And Investment Collaboration

Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister of Foreign Trade, recently engaged with a group of Austrian business leaders led by Dr. Wolfgang Hattmannsdorfer, Austria's Federal Minister of Labour and Economy. The UAE-Austria Roundtable served as a platform to discuss enhancing trade, investment, and private sector partnerships between the two nations.

The discussions highlighted the UAE's dedication to bolstering economic connections with Austria, an essential partner within the European Union. Al Zeyoudi stressed the significance of their economic relationship, noting that non-oil bilateral trade reached US$1.8 billion in 2024, marking a 26.6% rise from 2023. This upward trend continued into the first half of 2025, with non-oil trade increasing by 57% year-on-year to US$1.1 billion.

Al Zeyoudi remarked on the robust bilateral ties between the UAE and Austria: "Austria is a vital partner for the UAE in Europe, as we share deep trade and investment ties that continue to grow. Today's discussions at the UAE-Austria Roundtable focused on expanding avenues for private sector collaboration that will be mutually beneficial. We look forward to exploring new projects in advanced manufacturing, renewable energy, tourism, and technology that can drive growth for both our nations."

Dr. Hattmannsdorfer expressed his enthusiasm about visiting the UAE again this year: "It is a great honour and pleasure to visit the United Arab Emirates for the second time this year, underlining the strength of our growing strategic partnership. Following our successful roundtable in Vienna in April, I am very pleased that we could continue this dialogue here in the UAE on the invitation of Dr Thani Al Zeyoudi."

The meeting brought together over 30 leading Austrian companies and more than 10 distinguished Emirati firms, showcasing mutual interest and potential between their economies. Dr. Hattmannsdorfer stated: "I see my role as a door-opener for Austrian businesses — because every new partnership strengthens not only our economic cooperation but also the trust and friendship between our countries."

The gathering provided an opportunity to discuss ongoing initiatives aimed at leveraging existing trade frameworks for mutual benefit. Al Zeyoudi emphasized investing in sustainable projects that create jobs and generate lasting economic value in both countries.

Commitment to Future Collaboration

Al Zeyoudi praised strong private sector ties between both nations' companies, highlighting a multi-billion-dollar joint venture between ADNOC and OMV to establish one of the world's largest polyolefins companies.

The meeting concluded with a shared commitment to further explore collaborative projects that will enhance trade relations and economic ties between the UAE and Austria, paving the way for a mutually prosperous future.

With inputs from WAM