Kazakhstan, Austria discuss new opportunities for economic cooperation in Vienna
4 May 2022 14:42

Kazakhstan, Austria discuss new opportunities for economic cooperation in Vienna

VIENNA. KAZINFORM - Within the framework of the 30th anniversary of diplomatic relations between Kazakhstan and Austria, Deputy Foreign Minister of Kazakhstan Roman Vassilenko paid a working visit to Vienna to hold meetings with Government representatives and business circles, Kazinform has learned from the press service of the Kazakh Foreign Affairs Ministry.

At the meeting with the Foreign and European Policy Adviser to the Federal Chancellor of the Republic of Austria, Barbara Kaudel-Jensen, the parties discussed a wide range of issues of mutual interest in bilateral cooperation. It was emphasized that the trade turnover between Kazakhstan and Austria increased from 1,015.7 million euros in 2020 to 1,541.7 million euros by the end of 2021, i.e., by 51.7%.

The parties agreed to consider the possibility of cooperation in the petrochemical industry, as well as the availability of minerals required for the production of high-tech equipment for «green» energy. Special attention was given to the ongoing political and socio-economic reforms put forward by President Kassym-Jomart Tokayev and aimed at building a «New Kazakhstan». Topical issues on the international agenda, including the situation in Ukraine, were also discussed.

During the visit, a round table with Austrian business circles was held. Representatives of the Federal Ministries of Agriculture, Regional Development and Tourism, Digitalization and Economy, the Austrian Chamber of Commerce, as well as well-known companies Frequentis, Vamed, Gebrüder Weiss, Raiffeisenbank International, Lasselsberger Group, Rail Cargo, Austrian Technology Corporation, Weissenseer, etc. took part at the meeting.

Mr. Vassilenko underlined that Kazakhstan has been and remains a reliable partner of Austria in the Central Asian region and continues to contribute to the energy security of Austria and Europe as a whole. Thus, the major part (39%) of oil imported to Austria is of Kazakh origin.

The Austrian Co-Chairman of the Kazakh-Austrian Joint Commission (JPC), Florian Frauscher, highly appreciated the importance of the agreements achieved at the 10th jubilee meeting of the JPC in Nur-Sultan in 2021, the implementation of which will have a positive impact on bilateral trade and economic ties.

In view of the international situation, the parties talked about the possibility of expanding transport and logistics ties between Kazakhstan and Austria.

One of the leaders of the world's oldest transport and logistics company Gebrüder Weiss (founded in 1823), Dieter Buchinger, positively noted the growth of international cargo traffic through Kazakhstan, where the company owns four logistics terminals and has a representative office in Almaty.

There was a substantive discussion with the Austrian side, particularly the Rail Cargo company, on cooperation with the Trans-Caspian International Transport Route (TITR).

Director-General of the Federal Ministry for Agriculture, Regional Development and Tourism of the Republic of Austria Andreas Reichhardt drew attention to the high potential of cooperation with Kazakhstan in renewable energy, telecommunications, agriculture, transport infrastructure, and healthcare.

At the end of the meeting, one of the most reputable businessmen, Vice-President of the Austrian Chamber of Commerce and Co-Chairman of the Kazakh-Austrian Business Council Richard Schenz, expressed his firm support for the political and economic reforms to build a «New Kazakhstan,» emphasizing the importance of their prompt and complete implementation from the international business community’s point of view.

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