Austrian Federal Economic Chamber-Austrian Trade's Regional Director for Middle East and Africa Andreas Meindl, leader of the mission, and Austrian Embassy's Commercial Counselor Hartwig Seuchter gave an overview of the objectives of the mission, which includes establishing new joint ventures and enhancing investments in this part of the world. "We have some new companies that want to establish their presence across the Kingdom," Meindl said.
"The Kingdom is the most important trading partner for us in the region," Meindl said. Advantage Austria, the official Austrian foreign trade promotion organization, a central platform for companies looking for world-class suppliers and partners as well as for investors, has organized the mission. The mission comprises companies representing a wide range of products and services including telecommunications technology, solutions for the health care sector, software solutions for various business and industrial sectors, freezing and storage systems, wood and timber products, education at tertiary and secondary levels, galvanizing plants, components for warehouses, and processing machines for the meat industry.
Seuchter said Austrian exports to Saudi Arabia had tripled between 2001 and 2009, from 170 million euros to 493 euros. Austrian imports from Saudi Arabia totaled 118 million euros in 2009. "We are increasing our investment in our ongoing joint venture projects in the Kingdom, and also looking for new areas for our involvement" he said. One of the joint venture plants related to oil and petrol chemicals opened in Jubail last year. "At the moment more than a dozen joint ventures exist across the Kingdom, most of them related to the construction industry, as this sector continues to boom in this part of the world. Our involvement in one of the existing projects includes the 20-year-old water pipeline from Alkhboar to Riyadh," Seuchter added.
