“Rapid negotiations in response to global uncertainties”

“What it takes now are quickly negotiations to conclude a free trade agreement between the EU and the United Arab Emirates. I secure the fully support of Austria to the United Arab Emirates in this process”, so Economic Minister Wolfgang Hattmannsdorfer In conversation with the Minister of Commerce Dr. Thani al Zeyoudi in the course of a trade trip to Abu Dhabi.

“The global economic situation is characterized by increasing uncertainty – geopolitical tensions, protectionist tendencies tighten the pressure on export -oriented economies such as Austria. In this environment, stable, reliable partnerships are more important than ever. We need trade agreements, expand the partnerships and open up new markets to our entrepreneurs – so that they can sell their products and services worldwide, create jobs and create work in Austria Secure our social infrastructure., so Hattmannsdorfer.

In view of the always confusing geopolitical situation, the EU Commission and the United Arab Emirates (VAE) have only agreed to take negotiations on a free trade agreement a few days ago. In the course of the trade trip, Federal Minister Hattmannsdorfer has therefore met the Minister of Commerce Thani Al Zeyoudi to talk about the Comprehensive Economic Partnership Agreement (CEPA) between the EU and the VAE. Hattmannsdorfer assured the VAE full support in the talks.

Economic relationships between the EU and VAE already on the growth course

Economic relationships between the EU and the United Arab Emirates have become increasingly important in recent years. In 2023, the EU exported goods worth almost 39 billion euros to VAE – around 30 percent more than in 2019. Machines and chemical products from Europe are particularly in demand. The import of goods from the VAE into the EU has also increased, especially in energy and raw materials. In addition, trading with services is growing: In 2022, the EU exported services worth over 20 billion euros to VAE. The partnership is also close in investments – European companies are increasingly investing in the VAE.

VAE as a future market for Austrian companies – has increased over 24 percent in one year

In 2024 alone, the Austrian exports rose to the United Arab Emirates by over 24 percent. The VAE are therefore a high -growth business location with over 5 percent forecast growth in 2025 and a GDP of USD 545 billion (2024). The exports from Austria to VAE amounted to 816 million euros in 2024. With a high export quota, a high willingness to invest and an innovation -oriented economic environment, VAE are an important partner in the region. The aim is to strategically expand this cooperation – to the mutual economic advantage. Many companies from Austria are already working in the VAE, including companies such as FACC, Rosenbauer, Voestalpine, Andritz, Alpla or Doka.

With their young, urban population, the VAE offer excellent framework conditions for future -oriented economic issues – from green tech to digitization to education.