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Saturday, January 29, 2022

Qatar, Austria trade volume reaches new heights


Trade between Qatar and Austria has continued to develop, a Qatar Chamber meeting highlighted this week.

Qatar and Austria’s bilateral trade exceeded $209m last year, highlighting growing economic ties between the two countries.

During the third quarter of 2020, trade reached $138m, partially thanks to some 33 Austrian companies operating with Qatari partners in Doha. Three fully-owned Austrian companies are also operating in the country.

This was highlighted by Chairman of Qatar Chamber Khalifa Al Thani, who participated in a virtual meeting of the “Board of Directors of the Arab-Austro Chamber of Commerce (AACC)” this week.

Read also: Qatar approves fiscal budget for 2021

The meeting discussed a report on the economic and commercial cooperation between Arab countries in general and Austria, noting a positive trend in relations that were described by the chairman as  “a bridge” between the European state and Arab states in the Middle East.

The meeting also highlighted both countries’ interest in promoting their investment and trade cooperation, in addition to enhancing cooperation prospects between business sectors. 

In recent years, Doha and Vienna have built close economic ties and worked on enhancing trade and multi-faceted relations.

In 1989, the Austro-Arab Chamber of Commerce (AACC) was founded with the aim of strengthening the economic and commercial ties between Austria and the Arab countries, as well as enhancing communication in science, art, and technology.

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