UAE, Austria agree to enhance cooperation across key sectors

Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, paid an official visit to Vienna, the capital of Austria.

During the visit, he held a series of high-level meetings with senior government officials and private sector business leaders, accompanied by Hamad Al Kaabi, UAE Ambassador to the Republic of Austria.

As part of the visit, Dr Al Jaber met with Karl Nehammer, Chancellor of Austria, to whom he conveyed the greetings of the UAE leadership and their best wishes for continued progress and prosperity to the government and people of Austria.

Al Jaber expressed the UAE’s keenness to further strengthen bilateral cooperation in areas of mutual interest, building on the Comprehensive Strategic Partnership signed in 2021 under the patronage of President His Highness Sheikh Mohamed Bin Zayed Al Nahyan.

Dr Al Jaber also met with Beate Meinl-Reisinger, Austria’s Minister for European and International Affairs, where both sides discussed developments in joint initiatives and projects under the strategic partnership and explored new avenues for collaboration in key priority areas.

Discussions focused on enhancing economic and diplomatic ties, promoting mutual investments in sectors such as industry, technology, and energy, and increasing institutional linkages that serve common interests and support sustainable growth and development.

Additionally, Dr Al Jaber held talks with Dr. Wolfgang Hattmannsdorfer, Austrian Minister of Economy and Energy. They explored ways to strengthen cooperation in vital sectors, including energy, renewables, petrochemicals, advanced industry and technology, infrastructure, and data centres.

The meeting also focused on knowledge exchange in smart technology solutions to enhance operational efficiency. The two ministers co-chaired a high-level business roundtable attended by representatives from both the public and private sectors.

The discussions emphasised the importance of identifying quality investment opportunities and leveraging the UAE’s strategic advantages such as its geographic location, advanced logistics and regulatory infrastructure, and global trade corridors.

Furthermore, Dr Al Jaber met with Alexander Pröll, Secretary-General of the Austrian People’s Party and State Secretary for Public Services and Digital Transformation.

They explored ways to deepen cooperation in digital transformation and the application of advanced technologies across government sectors to enhance efficiency and drive innovation.

Opportunities to accelerate the adoption of smart solutions aimed at improving performance, optimising costs, and aligning with both countries’ visions for sustainable and efficient development models were also discussed.

During the visit, Masdar and OMV have signed a Letter of Intent to partner in the production of green hydrogen, sustainable synthetic fuels and chemicals in Austria, UAE, and Central & North Europe.

The LOI comes as part of both companies’ efforts to accelerate the scale-up and commercialization of green hydrogen, enhancing the collaboration between the UAE and Austria and supporting the transformation of the energy system.

The value of non-oil bilateral trade between the UAE and Austria reached approximately Dhs 6.7 billion (US$1.8 billion) in 2024, marking a 28% increase compared to 2023. This growth was driven mainly by a 248% surge in exports, particularly in pearls, precious metals, and machinery. Imports rose by 21%, and re-exports grew by 15%.

In the first quarter of 2025, bilateral trade witnessed a notable increase of 54.5% year-on-year. Exports more than tripled, while imports rose by nearly 42%. Pearls, precious metals, and machinery continued to lead export growth.

Separately, Wolfgang Hattmannsdorfer, Federal Minister of Labour and Economy of Austria, praised the UAE for its values of excellence and global openness, which he experienced during his recent visit.

Speaking during the Discover Europe Travel Summit meets Marhaba 2025 event, which concluded yesterday in Dubai, he stated, “From the UAE, I learned two essential things: a steadfast commitment to excellence and a spirit of global openness, qualities that we need to further strengthen in Austria.” The Austrian minister emphasised that his visit was not limited to forging economic partnerships but also served as a journey of learning and exchange.

He highlighted the remarkable hospitality he received, noting that Austria and the UAE share joint values. This shared spirit, he added, forms a solid foundation for strengthening economic relations. Currently, trade between Austria and the UAE stands at approximately 1 billion euros, with ambitions to expand it further in the near future.

In 2024, Austria welcomed around 146,800 tourists from the UAE, who spent a total of 447 overnight stays during their visits.

The Minister stressed the importance of encouraging more Austrian tourists to visit the UAE and attracting even greater numbers of Emirati tourists to Austria.

He also pointed out that Austria’s foreign direct investment (FDI) in the UAE amounted to around 12.339 million euros in 2024.

WAM