01/12/2010
Austrian Trade Mission to Visit Saudi Arabia in March
A 15-member Austrian trade mission will be visiting major cities of Saudi Arabia early 2011. This was disclosed by Dr. Johannes Wimmer, Austrian Ambassador to the Kingdom, in a meeting with Mr. Abdulrahman Rahsed Al Rashed, Chairman of Asharqia Chamber, today at the Chamber premises.
The Austrian mission, expected by March next year, will represent companies from various sectors including machinery, healthcare, foodstuffs, water treatment, environment and alternative energy. It will be a multi-sectoral mission, said Mr. Pierre Prunis, Commercial Counsellor of the Austrian Embassy in Riyadh.
Mr. Wimmer focused on the huge potential of alternative energy sources in Saudi Arabia, where sun emits about 7,000 watts of energy per square meter over an average of 12 hours. He said that the Kingdom needs to develop solar energy for the cooling systems of its houses and factories. He offered Austrian expertise and technology in the field of developing solar energy in Saudi Arabia.
Mr. Al Rashed stressed the economic importance of the Eastern Provincedescribing it as a hub of industrial activities. He pointed to industrial cities in Dammam and Jubail where world–class industries are based and these industrial units represent over 55 percent of the total industries in the kingdom. Growing industries in the Eastern Province has resulted in the lower rate of unemployment in this region than other parts of the country, observed Mr. Al Rahsed.
He sought cooperation with the Austrian companies in the service sector which has witnessed tremendous growth on the back of massive investments in oil, gas, petrochemical, power, water and infrastructure development in recent years. Saudi government has spent tens of billions of Riyals for its infrastructure development inthe Eastern Province, said Mr. Al Rashed.
According to Austrian Embassy in Riyadh, the annual bilateral trade between the two countries has reached around 620 million Euro with Saudi exports to Austria accounting for 120 million Euro and its imports amounting to 500 million Euro. Saudi Arabia mainly imports machinery, steel and foodstuffs from Austria while it exports oil and petrochemicals.
