Tatarstan makes a significant contribution to the formation of Russian-Austrian relations

First Deputy Head of Tatarstan Investment Development Agency Insaf Galiyev as a part of Tatarstan’s delegation took part in the fourth meeting of the Working group on cooperation of subjects of the Russian Federation with Austria within the Russian-Austrian Mixed Commission on trade and economic cooperation. Russia was represented by 14 subjects of the country.

The event was organized by the Ministry of Economic Development of the Russian Federation and the Austrian Federal Economic Chamber. The Russian part of the Working group was headed by the Director of the Department of Development and Regulation of Foreign-Economic Activity of the Ministry of Economic Development of the Russian Federation Vitaly Gudin, the Austrian part of the Working group - by the Regional Director on Foreign Relations with Eastern Europe and Central Asia of the Austrian Federal Economic Chamber Mr. Michael Angerer.

The meeting discussed the trends and prospects of Russian-Austrian cooperation and outlined plans for further joint activities, the results of which will be presented at the next meeting already in Russia.

Thus, it was decided to intensify the work of the regions of our country with Austria at all levels, develop trade and economic relations, increase trade. In 2018, it reached one of the highest rates in the recent years and amounted to 5,6 billion dollars.

It was also decided to expand the Russian-Austrian business community, activating the exhibition activities of Russian entrepreneurs in the frames of events held in Austria. Last year, 23 Russian companies were represented at Austrian exhibitions.

In addition, among the priorities, the parties identified the organization of business missions and as a common goal - the work on increasing investment activity. Over the past 2 years, projects amounted to $1 billion were launched in 12 Russian regions.

Russian and Austrian governmental officials announced the need to develop the export of services in such areas as tourism, medicine, education, cinema, etc.

Participants of the event called for more coordinated and enhanced work to promote products in the market of third countries. Thus, Russia will become a window for Austria to enter the CIS and Central Asian markets; Austria, in turn, will become a window for Russia to enter the European market.

At the end of the meeting of the working group, the final protocol was signed, which will become a guide to work on expansion of cooperation between countries and regions.

"Tatarstan makes a significant contribution to the formation of Russian-Austrian relations. For 10 years, the Wienerberger brick factory has been successfully operating in the republic, a number of joint projects is being implemented: for the production of composite materials - with "FACC AG" company, in the field of machine engineering - with "Aichelin" and "Palfinger" companies. The potential for expanding cooperation between countries and regions is huge. We intend to develop business relations with Austria and are ready to provide full support to the Austrian investors for the successful implementation of projects in Tatarstan," - the Head of Tatarstan Investment Development Agency Taliya Minullina stated.