Austria, Pakistan agree to bolster trade, investment, AI cooperation

By Aamir Latif

KARACHI, Pakistan (AA) - Austrian Chancellor Christian Stocker and Pakistani Prime Minister Shehbaz Sharif on Monday co-chaired a business forum in Vienna, with both leaders highlighting the "enormous" potential to enhance trade, cooperation in AI and digital technology and other priority sectors.

The forum attended by heads of renowned Pakistani and Austrian companies was held at the Federal Chancellery, said a statement from Islamabad's Foreign Ministry.

The companies represented at the CEOs Forum included those working in renewable energies, energy efficiency, industrial manufacturing and construction, IT, textiles, surgical equipment, leather and sports products, healthcare, tourism and hospitality and food and agro-industries.

Sharif invited the Austrian businesses and companies to expand their investments in Pakistan, particularly in the priority sectors for win-win partnerships between the private sectors of both countries.

He also invited Austrian companies to visit Pakistan and participate in the upcoming EU-Pakistan Business Forum to be held in Islamabad in April this year.

Sharif later addressed the Pakistan-Austria Business Forum, organized by the Austrian Chamber of Commerce.

Earlier, the two sides held delegation-level talks, vowing to bolster cooperation in different sectors, particularly trade, investment, education, tourism and agriculture.

Speaking on the occasion, Sharif offered his country's cooperation in the fight against illegal immigration to Europe.

"Let's fight illegal immigration together," Sharif said, calling for the provision of opportunities to skilled Pakistani youths in Austria.

He also thanked Vienna for its "continued" support for Islamabad vis-a-vis the EU's Generalized Scheme of Preferences Plus (GSP+), which gives developing countries a special incentive to pursue sustainable development and good governance.