Austria is seeking to join UAE companies in bidding for projects in Iraq and increase its presence in the Gulf, said senior government officials.
The central European country is also positioning itself as a major gateway into the East European markets.
Currently, the Austrian flag carrier is the only airline operating direct flights between Vienna and Dubai. Qatar Airways launched regular flights to Vienna last autumn from Doha.
Emirates is launching regular flights to Vienna this summer, increasing traffic between Dubai and Vienna, which will help the business communities of central Europe and the Gulf expand trade activities.
With Emirates' regular flights, tourism exchange is also expected to increase between the two destinations, said officials.
Austria's exports to the UAE last year were worth 200 million euros, slightly lower than its exports to Saudi Arabia, which hit 220 million euros. Its total exports to the Gulf have been close to one billion euros, which is less than two per cent of its global exports, which were over 72 billion euros during the first 11 months of last year.
"We have a strong economic relationship with the Gulf countries, especially the UAE. Austrian exports to the UAE are expected to gain by 3.5 per cent this year," said Dr Horst Machu, the Austrian Federal Economic Chamber's regional manager for Africa and the Middle East.
The Chamber is holding a week-long trade roadshow in the Gulf. A number of Austrian companies are taking part in the networking roadshow to source business in the Gulf.
One of them, according to Dr Machu, is offering water desalination without the use of chemicals. Among the participants are Austroconsult, AVL, Bank Privat AG, Apsys GmbH, Europe Cooperation Klemenc, Eva Handels, FindMyHome, Iku Intelligente, MCM Musil, Mils Electronic and Nowicky Pharma.
"Our companies are looking to forge partnerships with local companies here and increase our presence in the Gulf. Many Austrian companies are planning to enter the Iraqi market and they could use the local expertise and contacts to help rebuild Iraq.
"We have a commercial office in Iraq currently tapping the market and helping the Austrian companies participate in the tendering process. Our companies have so far won some contracts worth about 10 million euros.
"Earlier, Austrian companies used to do business worth 100 million euros in Iraq under the UN oil-for-food programme every year, while the economic sanctions were in place. An Austrian company built the largest water treatment plant in Basra.
"By forging ties with the UAE companies, both parties can benefit from each other's resources." He said Vienna is being seen as a commercial gateway into Eastern European markets.
"This year, 10 new countries are joining the European Union, some from East Europe, our neighbours. Vienna will become the commercial hub as well as a gateway to enter these markets as we are conveniently located in the centre of Europe. Besides, the increasing aviation link will help us increase tourism exchange as well.
"Emirates' daily flights to Vienna will help the tourism industry of both the countries by bringing in tourists to and from central Europe."
Gulf News
