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Wednesday, March 23, 2011

Austria taps Dominican Republic to showcase technology for the environment

aced with the current warming of planet Earth, leading Austrian businesses have stated their awareness that each country, each industry and each individual must seek suitable solutions.

Technically, Austria plays a very important role and offers leading edge solutions in the European region. In that regard, one fourth of the solar panels installed in the European Union is produced in Austria, for which it’s an important export product.

A small country with few power resources and which has learned from past energy crises of the 1970s and 80s, Austria spurred a new industrial sector that currently accounts for more than 50,000 jobs and its power sector doubled its growth in the last few years, compared with other areas.

All this has been possible only because Austria’s investment in sciences and technology is among the European Community’s highest and continues at the center by developing new, revolutionary ideas such as electric vehicles, with nano, and biotechnology solutions.

Bilateral trade between Dominican Republic and Austria was well balanced last year, with 15.6 million Euros worth of Austrian exports to Dominican Republic, and 16.2 million Euros worth of imports from Dominican Republic to Austria.

Bit by bit foreign trade is recovering from the effects of the economic crisis, as evidenced by the 83% growth of Austrian exports to Dominican Republic in 2010 compared with 2009. Machinery, energy beverages, paper, non-flammable material, pharmaceuticals were among the leading export items.

In that same period Austrian imports from Dominican Republic jumped 30%, including bananas, surgical equipment, electrical transformers, as well as leather for footwear.

It’s also important to note the importance of the tourism sector, as around 10,000 Austrian tourists visited the beautiful Caribbean destination last year.

The Austria Trade Delegation confirms that more and more Austrian investors are looking at the local possibilities, for which in this occasion four Austrian companies will showcase their products and technology to an interested public.

Information on those companies is available in their respective Websites: (, (, ( and (

For community and social projects, the Austrian Government offers the Dominican Government, as well as its industrialists the possibility of accessing credit in the form of soft, low interest loans with a grace period of up to 5 years.

“A stable government and a favorable economic atmosphere for foreign investors and a Free Trade Agreement with the European Community are the ingredients for future successes in the development of good bilateral relations,” the business organization said.

“We hope that this economic mission, organized as the Austria Showcase and the joint collaboration with the Austrian Dominican Business Circle, spurs interest in your country’s political and economic circles and it would please us to welcome you to the work tables scheduled for March 23 from 8:30 a.m. to 2:00 p.m., in the Hotel MeliĆ” Santo Domingo.

Source: Dominican Today

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