Today's Edition
DUBAI (WAM)
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.
He also indicated that his visit to the UAE reflects Austria's commitment to deepening bilateral ties, especially given the many commonalities between the two nations, whether in terms of geographic size, population, or shared values.
He further explained that areas of collaboration include energy, particularly renewable energy, and construction, with leading Austrian companies actively participating in major projects across the UAE.
He also expressed interest in expanding cooperation in the fields of infrastructure, as well as pharmaceutical and medical industries.
He emphasised the importance of free trade agreements, stressing the Austrian government's support for the launch of negotiations on a Free Trade Agreement between the European Union and the UAE.
