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Belarus and Austria resumed operation of all institutional mechanisms of economic interaction

Belarus and Austria have resumed the operation of all institutional mechanisms of economic interaction. This was announced by Elena Kupchina, Deputy Minister of Foreign Affairs of Belarus, at the 13th meeting of the Belarusian-Austrian intergovernmental commission on trade and economic cooperation. 

“It is pleasant to note that we, together with the Austrian partners, have resumed the operation of all institutional mechanisms of economic interaction between us, which, for whatever reasons, mainly political, haven’t worked for a while,” said the Deputy Minister. 

The meeting of the intergovernmental commission took place along with the Belarusian-Austrian business forum. Over 100 Belarusian companies and about 25 Austrian ones showed interest in participation in this event. 

Franz Wessig, CEO on foreign economic relations of the Federal Ministry of Science, Researches and Economy, in turn, noted that Austria has a great interest in cooperating with Belarus. “We are trying within the European Union to speak up for Belarus and to support it in the best way,” he said. 

Belarus is absorbing about 400 million euros on the Austrian projects this year, as declared Vladimir Ulakhovich, Chairman of the Belarusian Chamber of Commerce and Industry. 

“Our business contacts are developing very dynamically, positively and exemplarily in comparison with other our partners in Europe. We have a fine investment history. Austria is the main investor of Belarus among the European countries. Only this year the volume of investment of about 400 million euros is being realized on the projects which have come to Belarus in recent years,” Vladimir Ulakhovich noted. He urged to support the positive dynamics, to strengthen the interaction. “And we must increase our modest turnover,” said the Chairman of the Belarusian Chamber of Commerce and Industry. 

Rudolf Lukavski, Head of the Trade Mission of Austria in Russia, in turn, noted that the commercial ties between Belarus and Austria are highly positive. 

“Austria is one of the strongest investors in Belarus. There has been a certain decline in mutual trade for the last two years. Currently the turnover constitutes about 170 million euros. The purpose of our economic mission is to deepen the business contacts,” said Rudolf Lukavski. 

According to him, 25 representatives of various Austrian companies have arrived in Minsk to meet the Belarusian colleagues and to hold negotiations. “We are convinced that Belarus has a good future, and we are here to discuss joint projects,” he summed up. 

Elena Kupchina emphasized that Belarus constantly makes efforts to improve the business climate. She stated that the political dialogue between the countries is developing dynamically and substantially. “We are grateful to Austria for the active position in the removal of the European Union’s sanctions from Belarus. It has opened new opportunities for our business communication. We are now working in the economic sphere in an entirely different atmosphere,” the Deputy Minister said. Kupchina noted that Belarus and Austria have a serious potential to intensify trade and economic and investment cooperation.

According to BelTA