RIYADH, 16 October — Amid calls by a number of Saudi businessmen to generate more European support in the drive to solve the Mideast crisis and bring lasting peace to the region, the Kingdom and Austria signed an agreement here yesterday to set up a joint business council.
The accord was signed after a speech by visiting Austrian President Thomas Klestil at the Council of Saudi Chambers of Commerce and Industry (CSCCI).
Addressing a meeting of chamber officials and Saudi and Austrian businessmen at the CSCCI auditorium, Klestil said that he saw plenty of scope for further deepening the links between the two countries.
Klestil held wide-ranging talks with Riyadh Governor Prince Salman, Foreign Minister Prince Saud Al-Faisal and other high-ranking officials on a whole range issues, including the Middle East peace process and international terrorism.
He assured the Saudi side of Austria’s help to promote Palestinian-Israeli talks and extended his country’s full support for Saudi Arabia’s accession to the WTO.
The Kingdom, which applied for World Trade Organization membership in 1993, has made substantial progress to join the international trade watchdog.
Referring to the Saudi-Austrian agreement inked yesterday, Osama Al-Kurdi, CSCCI’s secretary-general, said that the accord between the CSCCI and Austrian Chamber of Commerce will ensure setting up of a 20-member joint business council.
Asked how Austria can play an effective role together with its European allies in the Middle East peace process, Austrian Minister of Economics Martin Bartenstein said "a global economy needs a global security, which eventually needs a global political network".
He allayed fears of terrorism saying that a global economy will help to minimize the fears of terror attacks, which send economies slumping on regional and international levels.
He lauded the efforts of the Arab countries, which have joined international coalition against terrorism. However, he added that "now it is the responsibility of the US to maintain this coalition and to make this coalition more effective and stronger."
To this end, he reiterated that the solution to the existing conflict between Palestinians and Israelis will ensure permanent peace in the region.
Referring to the growing economic relations between the two countries, Bartenstein said an Austrian company is currently working on a project to set up six cable car projects in the Kingdom. He especially thanked the Kingdom for its efforts to stabilize the oil prices after the terror attacks on the US.
"We have a lot to offer to the Kingdom, which is planning to implement Riyadh-Jeddah-Madinah railway project," he said.
Vienna has also developed better technology in terms of management of wastewater and sewage, an area in which the two countries can cooperate. He said that "we have also had interesting discussions with Prince Sultan, second deputy premier and minister of defense and aviation, about Austria’s desire to cooperate in defense sector."
On trade front, the two countries have forged closer cooperation with two-way trading exceeding SR1 billion annually.
