Senate Chairman, Syed Yousaf Raza Gilani, has reaffirmed Pakistan's commitment to further strengthening the traditionally strong relations between Pakistan and Austria.

He was talking to the Federal Minister for Finance of Austria, Gunter Mayr, during a meeting held in Vienna today.

The meeting focused on strengthening economic ties, enhancing trade and investment cooperation, and exploring new avenues for collaboration between the two countries.

Syed Yousaf Raza Gilani invited Austrian companies to take advantage of the recent incentives announced by Pakistan for foreign investors, particularly in priority sectors such as mining and minerals, energy, IT, the defense industry, and agriculture.

Chairman Senate also highlighted that several Austrian companies are already contributing to Pakistan's development in different sectors.

Chairman Senate emphasized Pakistan's potential in Alpine tourism and invited Austrian firms to invest in tourism development on a Build-Operate-Transfer basis. Additionally, he highlighted Pakistan's plans to upgrade its railway infrastructure, an area where Austria has significant expertise.

The Austrian Finance Minister assured Pakistan of Austria's support in key areas such as climate change, energy, disaster management and waste management.

He proposed the signing of a Memorandum of Understanding to institutionalize cooperation in these areas.