HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, recently met with Austrian Finance Minister, Hartwig Löger at the Ministry’s premises in Abu Dhabi. As part of the meeting the two leaders discussed ways to strengthen bilateral ties and increase investments between the UAE and Austria.
A number of other topics were discussed, including visits between the two parties to establish an organisational and executive framework for mutual investment and trade, as well as to study the possibility of establishing a private sector council between the two nations.
HE Obaid Humaid Al Tayer highlighted the importance of these meetings with other nations and the key role they play in driving the economy forward through initiatives and solutions that strengthen private sector investments. The meetings also highlighted the significant achievements of the UAE in digital transformation, sustainable energy and in the health and education sector.
HE Al Tayer said:
“This meeting represents an important opportunity to discuss bilateral agreements between the two countries, particularly the Avoidance of Double Taxation agreement signed in 2003, as well as the Protection and Promotion of Investment agreement signed in 2001. The Ministry is committed to strengthening the UAE’s international relationships, especially in investments and government finances.”
The UAE and Austria have enjoyed robust partnerships, with their joint committee reviewing ways and means to develop the bilateral relationship and to cooperate further in the fields of economy, trade, investment, energy, renewable energy, health, transportation, tourism and finance. The Austrian Finance Minister visited a number of companies across the UAE to identify the investment environment and the opportunities on offer by foreign institutions.