Expo 2020 Dubai paves way for opening new markets: Austria

Inayat Ur Rahman, Business Editor

Margarete Schramböck, Austria’s Minister of Digital and Economic Affairs, has said that Expo 2020 Dubai paves the way for opening new markets, enhances international cooperation, and provides the opportunity to highlight the quality of research and development of Austrian innovations.

On the occasion of the approaching inauguration of Expo 2020, the minister stated that Austria’s participation focuses on presenting future visions, concepts and technologies that promote living together in an increasingly intertwined world.

She stressed that Austria upholds - with its international-oriented startups - the spirit of innovation and technical knowledge, and that its participation in the Dubai Expo aims to offer useful and meaningful solutions and products.

For his part, Harald Mahrer, President of Austrian Federal Economic Chamber, highlighted the importance of Expo 2020 Dubai in strengthening Austria’s communication with other countries at the international level as well as developing the country’s economy.

The Austrian pavilion participating in the exhibition is set to present projects and innovations in various fields, designed and developed by research institutions and companies that have cooperated with universities and technical colleges, and have succeeded in achieving accomplishments that have a positive impact on the environment and climate.

The pavilion, under the theme, “Innovation Towers,” will showcase 53 selected innovations in many areas while highlighting the contributions of Austrian scientists, companies and research institutes to shaping a positive and innovative future in smart cities, the circular economy, renewable energy, digital technology, health and life sciences.

From 1st October 2021 to 31st March 2022, Expo 2020 Dubai will welcome 191 countries and millions of visitors, inviting everyone to join the making of a new world through a six-month celebration of innovation, culture, creativity and human progress.

Alexander Schallenberg, Minister of Foreign Affairs of Austria, has praised the UAE’s regional and global stature and its advanced experience and capabilities in attracting investments through providing business incubators.

During his meeting with Abdullah Mohamed Al Mazrouei, Chairman of Abu Dhabi Chamber of Commerce and Industry (Abu Dhabi Chamber), at the Chamber’s headquarters in Abu Dhabi, Schallenberg highlighted the facilities that his country offers to foreign businesses to attract more investments and encourage innovation in all sectors.

The meeting explored the prospects of increasing trade and investment cooperation between the two countries.

Dr Mohamed Rashid Al Hameli, Chairman of Emirats Steel Industries, and Rashid Abdul Kareem Al Blooshi, Under-Secretary of the Abu Dhabi Department of Economic Development, attended the meeting along with Saeed Ghumran Al Remeithi, Vice Treasurer of the Abu Dhabi Chamber; Mohamed Helal Al Mheiri, Director-General of the Chamber; and his Deputy Abdullah Ghurair Al Qubaisi.

Al Mazrouei expressed his delight for receiving the Austrian Minister and the accompanying delegation, noting that his visit reflects the keenness of the Austrian leadership to enhance bilateral relations between the UAE and Austria.

“The UAE and Austria share a 50 year-long relationship and it has been growing and developing ever since on all levels, especially in economic and investment fields,” he said.

The Chairman emphasised that the UAE is Austria’s most important partner in the region, which is evidenced by the high-level coordination meetings between the two sides backed by the support of the countries’ leaderships and the opportunities they provide to one another. “Both share the principles of economic openness, which contributes to drawing a clear roadmap for future cooperation.”

Al Mazrouei pointed out that being the voice of businesses in Abu Dhabi, the Abu Dhabi Chamber always strives to equip its members and the business community as a whole with the tools necessary to grow their businesses.

“We constantly strive to offer all types of support to Austrian companies wishing to establish partnerships with their Emirati counterparts, leveraging the enablers offered to foreign investors by the Abu Dhabi government, especially across the industrial, services, tourism, energy, and technology sectors,” he explained.

The Austrian Minister also underscored the importance of collaborating to familiarise businesses in both countries with the available investment opportunities across their markets.

Expo 2020 is the first World Expo to take place in the Middle East, Africa and South Asia (MEASA) region, located on a 4.38 sqkm site adjacent to Al Maktoum International Airport in Dubai South

Built with a meaningful and measurable long-term legacy in mind, the Expo site will transform into District 2020 – a model global community that will rethink the cities of the future – after Expo 2020 closes its doors  In 1851 the Crystal Palace was the centrepiece of London’s Great Exhibition – the first World Expo. It celebrated the man-made industrial wonders of a rapidly changing world. Architecture, contents and a theme, ‘Industry of All Nations’, were combined to create a big idea of nations meeting nations in shared technological and commercial progress. In more recent years, participants in World Expos, including governments, international organisations and companies, have gathered to find solutions to universal challenges and to promote their achievements, products, ideas, innovations, their national brand, and their nations as destinations for tourism, trade and investment.