The 8th meeting of the Uzbek-Austrian intergovernmental commission on trade and economic cooperation and a business forum were held in Vienna.

The events were attended by Badriddin Abidov, Deputy Minister of Investment, Industry and Trade of the Republic of Uzbekistan, Florian Frauscher, Director General of Economic Affairs, Innovation and International Policy, Ministry for Labour and Economy of the Republic of Austria, Philipp Gady, Vice President of the Austrian Federal Economic Chamber, heads of relevant ministries and departments, as well as more than 100 representatives of the business circles of both countries.

During the 8th meeting of the Uzbek-Austrian intergovernmental commission on trade and economic cooperation, the current agenda of bilateral trade, economic and investment cooperation, as well as issues of industrial partnership development were discussed.

The high interest of Austrian companies in the Uzbek market was noted, due to large-scale reforms and a comfortable investment climate in the country. The presence of a wide range of untapped opportunities for the development of multifaceted cooperation was emphasized.

Special attention was paid to the mechanisms of attracting investments, the development of all-season tourism, the introduction of "green" technologies, cooperation in the field of alternative energy, mining, modernization of infrastructure and railways, supplies of medical equipment, animal husbandry and other areas. The Austrian side presented more than 20 proposals for the development of cooperation in these sectors.

The final protocol was signed, which reflected agreements on the adoption Double Taxation Agreement, an agreement on air transport, the opening of an Austrian foreign trade representative office in Uzbekistan, improving the information base on mutual trade, as well as ensuring the participation of companies at exhibitions in both countries.

During the business forum, successful stories of the implementation of joint projects in Uzbekistan in the chemical and mining industries, pharmaceuticals and healthcare were presented. Agreements were reached on attracting financing from the Austrian Control Bank (OeKB Group) and leading Austrian companies to specific projects in the fields of chemical, mining and geology, agriculture and healthcare.

As a result of the discussions, as well as the organized "B2B" and "G2B" negotiations, a joint "Roadmap" for the development of trade, economic and investment cooperation was formed, including mechanisms for systematic monitoring of the implementation of the tasks set.

During the visit, bilateral talks were also held with the heads of major Austrian companies. A constructive exchange of views made it possible to reach agreements on the implementation of joint projects in the fields of healthcare and pharmaceuticals, animal husbandry, production of refractory glass and insulating materials.

In general, there was a high interest of Austrian companies in cooperation with Uzbekistan and a willingness to multiply investments in promising joint projects in various sectors of the country's economy.