VIENNA, Dr. Margarete Schrambock, Austria’s Federal Minister for Digital and Economic Affairs, congratulated the UAE and its wise leadership on the historic opening of Expo 2020 Dubai, which is held under the theme “Connecting Minds, Creating the Future”, and on the UAE’s 50th anniversary.
In an exclusive interview with the Emirates News Agency (WAM), Dr. Schrambock said that Austria’s participation in Expo 2020 Dubai is a great opportunity to promote Austria as a reliable trading partner, an attractive investment hub and a global innovation leader.
She added that such a global platform offers Austrian companies endless opportunities to showcase their experiences to the world, especially as the event will see the participation of over 100 Austrian companies.
Dr. Schrambock stressed that Expo 2020 Dubai enables companies and experts to present new ideas to audiences from around the world, besides being an ideal meeting ground for potential trading partners.
She said that Austria’s participation in Expo 2020 Dubai will contribute to developing UAE-Austrian economic relations, adding that Austrian companies will have the chance to showcase their latest innovations, which help address climate change, across environmental technology, life sciences and digital solutions fields.
The Minister explained that the UAE is Austria’s most important trading partner in the region, and highlighted the presence of branches of around 150 Austrian companies in the UAE.
Regarding the volume of Austria’s direct investments in the UAE, she affirmed that the UAE was ranked the 7th most important direct investment destination, with Austria’s direct investments in the UAE totalling €7.6 billion in 2020.
The UAE’s investments in Austria totalled €4.5 billion in 2020, while trade exchange between our countries reached €540 million, Dr. Schrambock concluded.
Source: Emirates News Agency