Saudi Press

Saudi Arabia and the world
Friday, Apr 26, 2024

Saudi-Austrian panel discuss means to enhance cooperation and development

Saudi-Austrian panel discuss means to enhance cooperation and development

The eighth session of Saudi-Austrian Joint Committee concluded Tuesday after it was held according to the agreement signed between the government of Saudi Arabia and Austria regarding cooperation in the fields of economics, commerce, industry and technology, among others.
The closing ceremony was attended by Minister of Economy and Planning Faisal Al-Ibrahim and Austrian Federal Minister for Digital and Economic Affairs Margarete Schramböck.

Deputy Minister of Economy and Planning for International Economic Affairs Bandar Al-Khamis headed the Saudi side of the meeting, while director of the Economic Affairs, Innovation and International Policy at the Austrian Federal Ministry for Digital and Economic Affairs headed the Austrian side.

During the meeting, talks discussed issued listed on the agenda, went over the current economic condition in both countries and means to enhance cooperation and development aspects.

The Saudi side stressed the importance and the role of the committee, especially after recovery and revival that the Saudi economy witnessed after the novel coronavirus (COVID-19) pandemic, with the GDP of Saudi Arabia realizing a positive growth and recovery to levels that exceeded the pre-pandemic phase.

The two sides also exchanged presentations on the top aspects and sectors of economic cooperation and points of view on means to develop bilateral trade, the growth of commercial exchange and investment between the two countries.They also called on exchanging of expertise, intensifying bilateral visits between the two countries’ public and private sectors, holding joint projects and overcoming any obstacles that might hinder such efforts.

In the infrastructure and transport sector, the two sides stressed the importance of bilateral relations in the aviation sector between the two countries, agreeing to hold bilateral negotiations to discuss an air service agreement during May, 2022.

The Saudi side called on its Austrian counterpart to explore various investment opportunities in the transport and logistics service sector in Saudi Arabia.

The Saudi side expressed interest in contacting the authority responsible for attracting and promoting investment in Austria, represented by the Austrian Business Agency (ABA), to receive information on investment opportunities in Austria and connecting ABA with concerned national companies with the aim of establishing companies in Austria and providing new job opportunities.

For their part, Austrian delegates said that the economic growth in their country will be led by the private consumption, investment and the recovery of the services and tourism sectors, expecting environmental and social tax reform and the implementation of the recovery plan to contribute to the economic resilience.

They noted that the labor market in Austria has achieved recovery in 2021 despite the continuous drop in the labor force in the services and tourism sector, which limited the development process.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Reports in Gaza: 5 dead from the impact of aid packages dropped by the USA
Apple warns against drying iPhones with rice
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
The U.S. vetoed a U.N. Security Council resolution calling for a temporary ceasefire in Gaza, instead proposing its own six-week ceasefire plan contingent upon the release of all hostages held by Hamas
Prince William Urges End to Gaza Conflict
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel has gone ‘beyond self-defence’ in Gaza, says Labour’s Streeting
EU Calls for Immediate Ceasefire in Gaza Conflict
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
Saudi Arabia Introduces Terms for 30-Year Income Tax Exemption for Multinational Companies
Saudi FM: Establishing Palestinian state is only pathway for Mideast stability
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Elon Musk's Starlink Gets License For Israel, Parts Of Gaza
Influencers Exploit X Platform for Profit Amidst Israel-Gaza Conflict
PM Modi Announces Opening Of New CBSE Office In Dubai
International Criminal Court's Chief "Deeply Concerned" By Rafah Bombing
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Indian female military officers commend Saudi Arabia's progress and women's empowerment
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Israel Utilizes AI Military Technology in Gaza Conflict
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
China Warns Iran to Halt Houthi Attacks or Damage Trade Ties
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Iran-backed hackers interrupt UAE TV streaming services with deepfake news
Facebook and Instagram Ban Iran's Supreme Leader
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
U.S. Secretary of State Blinken: The Israelis underwent dehumanization on 7.10, this does not give them the right to do this to others.
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
UK Bans Misleading "Zero Emissions" Claims for Electric Cars
Gaza's Teen Inventor Sparks Light in Displacement
Netanyahu Rejects Ceasefire Proposal, Insists On Total Victory Over Hamas
Guterres appoints independent UNRWA review panel
Private Sector Employment Hits Record High with Over 11 Million Employees in January
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
ZATCA Cautions Against Scammer Schemes
INTRA Defense Technologies inaugurates drone factory in Riyadh
×