Abu dhabi: Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, recently engaged in discussions with a delegation of Austrian business leaders, led by Dr. Wolfgang Hattmannsdorfer, Austrian Federal Minister of Labour and Economy, at the UAE-Austria Roundtable. The focus of the meeting was to strategize on increasing trade, investment, and private sector collaboration between the two nations.
According to Emirates News Agency, the talks highlighted the UAE’s dedication to enhancing economic connections with Austria, an important partner within the European Union. During the discussions, Al Zeyoudi emphasized the significant growth in trade between the two countries, noting that non-oil bilateral trade reached US$1.8 billion in 2024, marking a 26.6% increase from the previous year. This upward trend continued in the first half of 2025, with non-oil trade rising 57% year-on-year to US$1.1 billion.
Al Zeyoudi expressed the importance of the UAE-Austria economic relationship, highlighting Austria as a
crucial partner in Europe. He stated that the roundtable discussions centered on expanding private sector collaboration in areas such as advanced manufacturing, renewable energy, tourism, and technology. These projects are anticipated to drive growth for both nations.
Dr. Hattmannsdorfer conveyed his appreciation for the opportunity to visit the UAE, underscoring the strength of the growing strategic partnership. He noted the continuation of dialogue from their successful roundtable in Vienna and highlighted the mutual interest and potential for economic cooperation between the two countries. Dr. Hattmannsdorfer sees his role as facilitating new partnerships for Austrian businesses, which in turn strengthens economic cooperation and trust between the nations.
The meeting facilitated discussions on ongoing initiatives and agreements aimed at leveraging the existing trade and investment framework for mutual benefit. Al Zeyoudi stressed the importance of investing in sustainable and innovative projects that ge
nerate economic value and create jobs in both countries. He also praised the strong ties between companies in the private sectors, citing the joint venture between ADNOC and OMV to establish the world’s fourth-largest polyolefins company.
The meeting concluded with both parties committing to further explore collaborative projects to enhance trade relations and economic ties, setting the stage for a mutually prosperous future.