Chancellor Christian Stocker (ÖVP) is committed to an EU free trade agreement with the United Arab Emirates (VAE). The Emirates are “the largest trade and business partner in Austria in the region (…),” said Stocker after a meeting with the VAE minister of industry Sultan Ahmed al-Jaber.
He received Al-Jaber in Vienna on Wednesday. “We not only want to deepen this strategic partnership and approach cooperation at a bilateral level, but also strengthen at the EU level (…),” said Stocker. He also emphasized the recent agreement between the Sub-State Austrian energy group OMV and the state of Adnoc (Abu Dhabi National Oil Company) about the merger of the two Petrochemia daughters Borealis and Borouge.
The Minister of Industry also met the economic minister Wolfgang Hattmannsdorfer (ÖVP). The latter reported that “concrete steps” had already been taken for further cooperation. The Austrian OMV and Masdar of the Emiraten, for example, decided to expand their collaboration in the field of artificial intelligence and green hydrogen. Together they wanted to identify new production options in Austria, said it.
Trade increased sharply
According to Hattmannsdorfer, more than 200 companies are active with the participation of the Emirates in Austria. In addition, negotiations for further 16 settlement projects would currently be carried out. “In the past five years alone, trade between our countries has grown by 75 percent and was already 1.6 billion euros in 2024.
In addition to artificial intelligence, work must be done, for example in the production of high technology and clean energy, research and innovation.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
