Senate Chairman Pledges to Enhance Economic Ties with Austria

Vienna: Senate Chairman Syed Yousaf Raza Gilani has reaffirmed Pakistan’s commitment to strengthening its long-standing relations with Austria, focusing on economic collaboration and investment opportunities. His remarks came during a meeting with Gunter Mayr, Austria’s Federal Minister for Finance, held in Vienna.

According to a statement by Ministry of Information and Broadcasting, the meeting centered around enhancing trade and investment cooperation between the two nations. Gilani extended an invitation to Austrian companies to capitalize on incentives recently announced by Pakistan for foreign investors, targeting sectors such as mining, energy, IT, defense, and agriculture.

Gilani noted the contributions of several Austrian companies to Pakistan’s development and emphasized the potential for investment in Alpine tourism, proposing a Build-Operate-Transfer model for tourism infrastructure. He also pointed out Pakistan’s plans to upgrade its railway system, an area where Austrian expertise could be beneficial.

In response, Minister Mayr assured Pakistan of Austria’s support in areas like climate change, energy, disaster management, and waste management. He suggested formalizing this cooperation through a Memorandum of Understanding.

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