During his speech, the Minister of Economic Affairs of Ukraine, Bohdan Danylyshyn, has stated that participation of representatives of Ukrainian and Austrian business communities, conducting their business in various sectors of economy, in that business forum is indicative of both considerable potential of mutually beneficial cooperation between the countries and great interest of business communities to familiarization with prospects of Ukrainian economic development.

“In terms of foreign economic programme, the Government of Ukraine considers Austria as an important political and economic partner”, - Bohdan Danylyshyn has stressed.

“Taking this into account, - the head of economic department has noted, - we are aimed at meaningful dialogue with Austrian companies and their associations, which is to provide holding of regular meetings on all levels”.

For example, in terms of volume of foreign economic transactions with Ukraine, Austria ranks ninth among the other European countries.

For reference: During 6 months, 2008, the volume of goods circulation between Ukraine and Austria has made US$ 768 million.

However, the Minister of Economic Affairs of Ukraine thinks that the potential of trade and economic cooperation between the countries is not near its depletion.

“Revival of economic business environment and unprejudiced interest of Ukrainian and Austrian businessmen in expansion of cooperation provide conditions favorable for further qualitative transformation of bilateral trade and economic cooperation”, - Bohdan Danylyshyn has told.

According to the head of economic department, mutual interest of Ukraine and Austria in development of bilateral dialogue has to be manifested in purpose-oriented work on specific projects, including projects to be realized in regions.

“Efficient instrument of such cooperation, - Bohdan Danylyshyn thinks, - is Ukrainian-Austrian Joint Commission on trade and economic relations, the eighth session of which had taken place in Austria, in December, 2007”.

Furthermore, in the course of his speech, the Minister of Economic Affairs has made a note of great opportunities for expansion of cooperation in such sectors of economy as hi-tech, electric power engineering, mechanical engineering, transport, tourism, agriculture, and implementation of far-reaching economic projects on both bilateral level and with the participation of other concerned countries.

Bohdan Danylyshyn has told, as well, that positive trends of development of investment cooperation between our countries speak for growing interest of Austrian companies in expansion of their businesses in the territory of Ukraine.

“In terms of volume of foreign direct investments, channeled to the economy of Ukraine, Austria is still one of the leading countries of the world”, - the head of economic department has stated.

For reference: according to the data, provided by State Statistics Committee of Ukraine, as of 01.04.2008, Austria has invested US$ 2,352.8 million to the economy of Ukraine, or, in other words, 7.2% of total volume of foreign direct investments, attracted to Ukraine. 424 joint enterprises with the participation of Austrian capital conduct their business in the territory of Ukraine.

“We are eager to move on, - the Minister of Economic Affairs has stressed, - to develop and implement new investment projects through the attraction of Austrian capital and high technologies, including within the framework of preparation for holding of European Football Championship, Euro-2012, which will take place in Ukraine and Poland”.

Against this background the Minister has invited Austrian business communities to take part in investment projects relating to reorganization of transport and hotel infrastructure of Ukraine, inasmuch as Austria has an exceptional experience of such event organization in 2008 and may provide Ukraine with substantial aid.

“Ukraine thinks much of the attention constantly paid by the Government of Austria to development of relations with our country”, - Bohdan Danylyshyn has stressed.

In the end of his speech, the Minister of Economic Affairs has expressed his belief that immediate contacts between both countries businessmen, including within the framework of this forum, will result in a number of contracts and agreements on implementation of joint projects and had wished meaningful work of Ukrainian-Austrian business forum.