CAIRO – Austrian Chancellor Karl Nehammer asserted that his country has established “excellent” ties with Egypt which brought about strong and successful economic relations between the two sides, noting that their volume of trade exchange hit 400 million Euros last year.
The chancellor’s remarks were made during roundtable meetings of the Egyptian-Austrian Business Community held Thursday evening in the presence of Egyptian Prime Minister Mostafa Madbouli and senior government officials and representatives of the two countries’ companies and businessmen.
Addressing the gathering, Nehammer praised the long-standing relations between the two countries and his recent meeting with Egypt’s Ambassador in Vienna Mohammed El Molla.
He cited some of the successful examples of Austria’s investments in Egypt including ANDRITZ HYDRO Company, which was involved in a variety of hydropower projects in Egypt, as well as Frequentis which is an Austrian high-tech company that develops communication and information systems in fields such as air traffic management and public safety.
The chancellor also asserted that there are vast opportunities for expanding economic relations especially in the fields of water management, environmental technology, health, education and transport infrastructure.
He welcomed the signing of a number of agreements in the railway infrastructure earlier in the day.
The chancellor also welcomed the strategic partnership between Egypt and the European Union in the field of green hydrogen which was signed during the 2022 UN climate summit in Sharm El Sheikh (COP27).
Nehammer asserted that his country is willing to support Egypt’s economic aspirations and exchange expertise in all fields of concern to the Egyptian side.