UAE and Austria lock in new bilateral investment corridors

VIENNA: Dr Thani Bin Ahmed Al Zeyoudi, Minister of Foreign Trade, led an Emirate delegation to the Austrian capital of Vienna.

During his visit, Al Zeyoudi met his counterpart Wolfgang Hattmannsdorfer, Austria’s Minister for Economy, Energy and Tourism. He signed a Memorandum of Understanding establishing the Austria-UAE High Level Dialogue Platform and co-hosted the 2nd UAE-Austria Joint Economic Committee (JEC) Meeting. The visit helped to strengthen the UAE’s economic relations with Austria and the broader EU.

During his meeting with Hattmannsdorfer, Al Zeyoudi restated the UAE’s commitment to positive, mutually beneficial international partnerships, saying, "The UAE serves as a gateway not only to the Gulf but also to markets around the world, providing an important and resilient hub on global trade routes. With our robust infrastructure and business-friendly environment, we are determined to simplify trade, modernise supply chains and accelerate growth opportunities for all our partners.”

The UAE’s non-oil foreign trade with Austria reached $2.1 billion in 2025, reflecting a growth of 16.4 per cent compared to 2024 and a significant 87.7 per cent increase since 2019. These figures demonstrate the strengthening trade ties between the two nations and their shared pursuit of deeper collaboration.

For his part, Hattmannsdorfer said, "Austria and the UAE share a long-standing and forward-looking economic partnership. The establishment of a High-Level Economic Dialogue Platform marks an important step in further strengthening the connectivity between our businesses, fostering innovation, investment, and sustainable growth on both sides.

"This year’s meeting of the Joint Economic Committee is particularly meaningful as we celebrate the 50th anniversary of the bilateral agreement that laid the foundation for our successful economic cooperation. Our joint participation at the European Forum Wachau also underlines our shared commitment to international dialogue, resilience, and partnership."

He added that the UAE is an essential strategic partner for Austria in the Middle East, especially in the fields of energy diversification and future-oriented technologies. "We look forward to deepening our cooperation and creating new opportunities for our companies and economies.”

Over the past seven months, representatives of both the public and private sectors have engaged in frequent discussions, including business roundtables in November 2025 and January 2026, which have played a crucial role in fostering increased private-sector collaboration.

Al Zeyoudi emphasised the evolving partnership, noting, "The UAE and Austria continue to explore exciting opportunities across various high-potential sectors, including technology, renewable energy, and advanced manufacturing. This week’s engagements will provide an important foundation for future collaboration.”

The JEC meeting included a series of discussions aimed at enhancing cooperation in key areas, reaffirming both nations' commitment to fostering a conducive environment for trade and investment. The meetings have set the stage for future collaborations that will drive economic growth and innovation, as the UAE and Austria remain dedicated to building on their strong foundation of cooperation and expanding their economic partnership.

The JEC meeting marked the 50th anniversary of the bilateral Joint Commission on Economic, Industrial, and Technical Cooperation established on 11th March, 1976, underscoring the longstanding economic relationship between the two nations.

Al Zeyoudi also participated in the establishment ceremony of the new UAE-Austria Dialogue Platform, signing a Memorandum of Understanding with his counterpart, Wolfgang Hattmannsdorfer. The new body will create a platform for the private sectors of both nations to identify promising investment opportunities, align national priorities, and benchmark mutual achievements.

Meanwhile in February 2026, Dr. Thani Bin Ahmed Al Zeyoudi, Minister of Foreign Trade, welcomed Beate Meinl-Reisinger, Austrian Minister for European and International Affairs, and a delegation of Austrian business executives, to a business roundtable aimed at enhancing private sector collaboration between UAE and Austrian companies and driving bilateral economic relations.

The meeting follows the initial UAE-Austria Business Roundtable held in November last year, reflecting the commitment of both nations to quickly accelerate the growth in trade and investment flows between the two sides.

During the roundtable, Al Zeyoudi highlighted the importance of Austria as a strategic partner in the EU, noting that non-oil trade between the UAE and Austria increased 15.8 per cent year-on-year to reach $2.1 billion in 2025.

Al Zeyoudi said, “Our partnership with Austria continues to evolve, presenting exciting opportunities for trade and investment that will benefit both nations. By fostering private sector collaboration, we are unlocking new avenues for mutual benefit in sectors like technology, renewable energy, and advanced manufacturing.”

Minister Meinl-Reisinger expressed her enthusiasm for strengthening ties, remarking, “The United Arab Emirates is Austria’s most important business partner in the whole GCC region and an important strategic partner. I therefore visit the United Arab Emirates today accompanied by a business delegation.”

She added, “Together with Dr. Thani Al Zeyoudi we discussed how to further increase our trade and our economic cooperation in various areas such as AI or sustainability. We also took stock of the ongoing CEPA-negotiations between the European Union and the United Arab Emirates. Austria with its export-oriented economy stands to benefit from free trade, be it with MERCOSUR, India or the UAE. This is why I do hope for a swift conclusion of these talks as in times of rising protectionism we need to open doors instead of closing them.”

Al Zeyoudi invited the Austrian business community and delegation to take full advantage of the UAE’s investment ecosystem, which offers a pro-growth, highly connected platform for expansion into not only the Middle East but Africa and Asia.

The UAE business delegation included representatives from Response Plus Medical, Masdar City, Kezad, Aldar, Dubai Chamber, Abu Dhabi Chamber, and UAE Chamber. The Austrian business delegation included representatives from Bene, Lohmann & Rauscher, Microtronics Engineering, Planradar, Tridonic & Co, VA TECH WABAG, OMV, Store Makers, Unger Stahlbau, Kny Design, and Primetals Technologies.

The meeting also included a series of bilateral sessions between Emirati companies and their Austrian counterparts. These sessions focused on deepening the bilateral ties between the two nation’s private sectors in key, high growth sectors of the future. Upon conclusion of the roundtable, participants expressed a collective commitment to identify and pursue collaborative projects in advanced manufacturing, renewable energy, tourism, and technology that will enhance trade relations, create jobs, and foster long-term, mutually beneficial economic growth for both nations.

WAM