Tatarstan Ministry of Industry and Trade: Austrian companies are interested in cooperation with Tatarstan enterprises

On May 17, reporting at a briefing at Tatarstan Cabinet of Ministers about results of the working visit of Tatarstan delegation led by Tatarstan President to Austria on May 12-13 Deputy Prime Minister – Minister of Industry and Trade of the republic Albert Karimov said that in 2015 the trade turnover between Tatarstan and Austria amounted to 56 million US dollars, nine million US dollars of which account for export sales.

According to him, Austia's GDP amounted to more than 370 billion US dollars in 2015.  Austria has a well-developed service (74 per cent of GDP),  industrial (25.3 per cent of GDP) and agricultural (1.4 per cent) sectors.

Karimov went on to report that Vienna hosted the Austrian-Tatarstan business forum, during which the investment and tourist potential of Tatarstan was presented, perspective areas of trade and economic cooperation were discussed. Also, meetings with representatives of Tatarstan and Austrian business circles were held.

"Joint projects in the field of petrochemical equipment, machinery, robotic technology have been outlined,"  Karimov said. According to him, oil refining and petrochemistry, power engineering, information technology, pharmaceuticals and others are promising areas of bilateral cooperation.

The Austrian colleagues said that they are interested in cooperation with Tatarstan enterprises.