Economic ties crucial, says Austrian envoy

Educational collaboration, B2B meetings with private sector can bolster trade

LAHORE:

Collaborative efforts and business-to-business (B2B) meetings between the private sectors of Pakistan and Austria can take two-way trade to new heights, said Andrea Wicke, Ambassador of Austria to Pakistan while addressing a gathering at the Lahore Chamber of Commerce and Industry (LCCI) on Thursday.

“Economic ties are crucial because they improve interpersonal interactions, which in turn promote collaboration in all spheres of life,” the envoy observed.

She added that connections between universities will encourage interactions even further, expressing a commitment to the Pak-Austria University of Applied Sciences in Haripur.

“The model of educational collaboration should be promoted by both nations and with other European countries,” she emphasised.

The Austrian Embassy’s Commercial Counsellor, Johannes Brunner said, “The president of LCCI has set a very attainable goal of $1 billion for bilateral trade. By working together, we might even be able to increase mutual trade to $10 billion.”

“Austria is willing to share knowledge with Pakistan in a number of economic fields. A number of Austrian businesses are already active in Pakistan, working in a number of industries, including waste water treatment and infrastructure development,” he said, adding that both nations could also explore cooperation in the fields of information technology and tourism.

LCCI President, Kashif Anwar observed, “Since 1956, Pakistan and Austria have enjoyed excellent diplomatic relations, but these relations are yet not reflected in trade volume.”

Published in The Express Tribune, November 25^th, 2022.

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