VIENNA, Feb 16 (APP): Prime Minister Shehbaz Sharif on Monday underscored Pakistan\u2019s commitment to boosting bilateral economic cooperation with Austria while highlighting the country\u2019s vast potential in key sectors such as renewable energy, agriculture, mining, and human resource development.<\/p>\n
The prime minister said that Pakistan was an agrarian country and more than 60% people lived in the rural areas, calling upon Austrian expertise to enhance value-addition in citrus and other produce for export markets.<\/p>\n
He also invited Austrian investors to explore opportunities in mining, tourism and engineering sectors.<\/p>\n
\u201cAustria has world-class expertise in engineering, renewable energy, environmental technology and advanced manufacturing,\u201d he said while addressing the Pakistan-Austria Business Forum in Vienna.<\/p>\n
He invited Austrian companies to participate in Pakistan\u2019s renewable energy projects, grid modernization and energy logging initiatives.<\/p>\n
PM Shehbaz Sharif extended a personal invitation to Austrian business leaders to visit Pakistan, promising to showcase investment opportunities and the country\u2019s scenic treasures, from snow-capped mountains to vibrant cultural hubs.<\/p>\n
The prime minister said both countries shared a longstanding friendship grounded in historical ties and decades of Austrian business engagement in Pakistan, particularly in areas such as cable car installations, minerals and renewable energy technology.<\/p>\n
\u201cAlthough the level of economic activity in recent years has declined for a variety of reasons, Austrian firms have made impactful contributions in Pakistan,\u201d he said.<\/p>\n
The prime minister noted that discussions with the Austrian Federal Chancellor had been very warm, fruitful and productive, where both leaders agreed to follow up the meetings to take discussions to their logical conclusion.<\/p>\n
He said approximately 60% of the country\u2019s 240\u00a0million population was young and ready to contribute to global technological and industrial value chains.<\/p>\n
\u201cWe are working to equip our youth with modern training \u2014 laptops, AI skills, IT-led education, vocational and technical training are being rolled out at the federal and provincial levels,\u201d he said, stressing Pakistan\u2019s readiness to supply internationally certified skilled labor to European markets in response to demand.<\/p>\n
He also expressed the resolve to combat illegal immigration in collaboration with partners like Austria, Germany and France.<\/p>\n
The prime minister also announced Pakistan\u2019s intention to host the EU-Pakistan Business Forum in Islamabad at the end of April, with participation from Austrian companies expected to further solidify economic collaboration between the two nations.<\/p>\n
Deputy Prime Minister and Foreign Minister Ishaq Dar on the occasion emphasised that under PM Shehbaz Sharif\u2019s leadership, Pakistan\u2019s foreign policy had given economic diplomacy equal weight to traditional diplomatic engagement.<\/p>\n
\u201cEconomic cooperation is the main driving force of Pakistan-Austria bilateral relations,\u201d he said, noting Austria\u2019s technological excellence and Pakistan\u2019s dynamic, resilient and rapidly evolving economic landscape.<\/p>\n
Ishaq Dar added that Pakistan had undertaken structural reforms to stabilize the macroeconomic environment, enhance fiscal discipline and improve the ease of doing business.<\/p>\n
\u201cOur bilateral trade volume does not reflect the true potential of the friendship and the relationship of our two great countries. This is precisely why we are here \u2014 to convert this potential into performance,\u201d he stated.<\/p>\n
Earlier, Vice President of the Austrian Federal Economic Chamber Carmen Goby, reaffirmed Austria\u2019s keen interest in expanding cooperation with Pakistan.<\/p>\n
Recalling her leadership of an Austrian business delegation to Pakistan in 2022, she praised the hospitality shown by Pakistan and highlighted the country\u2019s economic prospects, particularly in hydropower, rail infrastructure, digital transformation and emerging technologies including drones and quantum applications.<\/p>\n
\u201cI see considerable potential for expanding cooperation in infrastructure development, industrial competitiveness and digital transformation,\u201d she said and adding that Pakistan\u2019s geographic location positions it as a \u201cvital bridge to one of the world\u2019s most dynamic future regions.\u201d<\/p>\n
The Austrian business leader also outlined Austria\u2019s own strategic positioning as a logistics and defense hub in Central Europe, suggesting complementary opportunities for partnership with Pakistan.<\/p>\n