Pakistan, Austria tie up for trade takeoff

February 17, 2026 (MLN): Pakistan and Austria agreed to strengthen bilateral economic, cultural and strategic cooperation while focusing on expanding trade, investment, technology collaboration and private-sector partnerships in sectors including renewable energy, manufacturing, agriculture, tourism, digital innovation and skilled workforce development.

Prime Minister Muhammad Shehbaz Sharif and Austrian Federal Chancellor Christian Stocker led discussions at the CEOs Forum and the Pakistan–Austria Business Forum, where they highlighted opportunities for joint ventures and increased investment.

Shehbaz Sharif invited Austrian companies to explore projects in Pakistan, particularly in renewable energy, mining, engineering, agriculture and infrastructure, and encouraged participation in the upcoming EU-Pakistan Business Forum in Islamabad later this year, APP reported.

Addressing Austrian cabinet members and senior officials, the prime minister called for a new phase of cooperation encompassing economic ties, cultural exchange and strategic collaboration.

He conveyed greetings from the people of Pakistan, appreciated Austria’s continued engagement, and stressed that Pakistan was open for business after taking steps to improve its investment climate and macroeconomic stability.

Prime Minister Shehbaz Sharif emphasized collaboration in emerging areas such as artificial intelligence, digital technology, vocational training and skilled labor mobility, proposing structured and legal pathways for Pakistani professionals to access European job markets while jointly tackling illegal migration.

He also emphasized  Pakistan’s tourism potential and invited Austrian support in infrastructure and hospitality projects.

Highlighting Pakistan’s demographic strength, the prime minister noted that a majority of the country’s population is young and being equipped with modern technical, IT and vocational skills to contribute to global value chains.

He expressed gratitude for Austria’s support within the European Union framework, particularly trade preferences that have facilitated Pakistani exports.

Deputy Prime Minister and Foreign Minister Ishaq Dar said Pakistan’s foreign policy under Shehbaz Sharif’s leadership gives equal priority to economic diplomacy, adding that bilateral trade volumes do not yet reflect the true potential of relations between the two countries.

He cited structural reforms aimed at improving fiscal discipline and ease of doing business.

Austrian business representatives also voiced interest in expanding cooperation with Pakistan, pointing to prospects in hydropower, rail infrastructure, digital transformation and advanced technologies.

Both sides expressed confidence that continued dialogue and private-sector engagement would translate existing goodwill into stronger economic performance and long-term partnership.

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