UAE And Austria Commit To Deepening Strategic Partnership And Cooperation
In a significant diplomatic engagement, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, held discussions with Austrian Chancellor Karl Nehammer and key Austrian officials in Vienna. This meeting underscored the deepening ties between the UAE and Austria, particularly spotlighting the Comprehensive Strategic Partnership initiated in 2021. Dr. Al Jaber lauded Austria's active role in COP28 and its dedication to tackling climate change, advancing renewable energy, and enhancing agricultural practices.
The Austrian representatives expressed their eagerness to expand this strategic partnership across multiple domains, including politics, economics, trade, culture, and advanced technology. The inaugural ministerial meeting of the UAE-Austria Comprehensive Strategic Partnership was a focal point of discussion, covering a wide range of topics such as bilateral relations, international cooperation, economic collaboration, and joint investments. Dr. Al Jaber reiterated the UAE's commitment to fostering cooperation and achieving mutual progress.
The visit also marked the 50th anniversary of diplomatic relations between the UAE and Austria, celebrating half a century of fruitful interactions. A highlight of the discussions was the collaboration between Abu Dhabi National Oil Company (ADNOC) and OMV, showcasing nearly three decades of successful partnership in the energy and chemicals sectors. Notably, ADNOC's recent acquisition of a stake in OMV has further solidified this enduring collaboration.
From an economic perspective, the UAE stands as Austria's principal investment partner in the MENA region and ranks sixth globally. Emirati investments in Austria have reached an impressive total of approximately $8.2 billion in 2023. Furthermore, the UAE is Austria's largest trading partner among GCC countries and holds the second position among Arab countries. The non-oil trade volume between the two nations witnessed an 18% year-on-year growth in the first nine months of 2023, amounting to around $1 billion.
This series of meetings not only highlighted the robust economic ties but also set a positive trajectory for future cooperation in various sectors. The discussions emphasized a shared vision for progress and sustainability, reflecting both countries' commitment to enhancing their strategic partnership for mutual benefit.
With inputs from WAM
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