BAKU, Azerbaijan, December 13. Austria’s exports to Uzbekistan have experienced a notable surge, increasing by 21 percent in 2023, amounting to 131.8 million euros, a source from the Austrian Federal Ministry for European and International Affairs told Trend.
"This growth highlights the strengthening of economic ties between the two countries. The majority of Austrian exports to Uzbekistan are machinery of all kinds, followed by measuring instruments, pharmaceutical products, plastics, processed goods, and other finished goods," the source noted.
According to the source, the Austrian businesses have been especially active in healthcare and agricultural processing, capitalizing on the Uzbek market's demand for technological advancements and infrastructure improvement.
"Moreover, Austria’s commitment to supporting small and medium-sized enterprises (SMEs) in Uzbekistan is underscored by the credit facilities being provided to Uzbek banks. This move aims to facilitate business development and expand trade relations, fostering a sustainable economic partnership between the two countries," the representative of the Austrian Federal Ministry for European and International Affairs emphasized.
The source added that with continued growth in trade and new opportunities emerging in sectors such as energy and energy efficiency, the future of Austrian-Uzbek economic relations looks promising.