A “wide range of opportunities and interesting prospects of cooperation” were open to entrepreneurs from both Malta and Austria, participants at a business forum were told.

Michael Berger, commercial consul of the Austrian Chamber of Commerce, listed sectors that could be tapped: tourism and leisure; naval industry and yachting; environmental technology; renewable energy; life sciences; finance and banking sector, gaming and related IT and ICT and cooperation to undertake projects in third party countries.

The aim of the forum, organised by Dr Berger and Michael Bianchi, Austria’s honorary consul general in Malta, in cooperation with the Malta Chamber of Commerce, Enterprise and Industry at its offices in Valletta, was to further promote business development opportunities between both countries.

Dr Berger said Maltese exports to Austria last year were valued at €12 million and mainly had to do with the cruise liner industry, toys, electronic goods and pharmaceutical and chemical products.

Imports from Austria were valued at €39.3 million, consisting of products as wood, natural or cultured pearls, precious and semi-precious stones, machinery and mechanical appliances, jewellery and beverages.

Malta sold €103 million worth of services to Austria in 2015, up 51 per cent, while services from Austria were valued at €111 million, that is an increase of 15 per cent.

The biggest joint venture between the two countries, of course, remains Malta International Airport.

Economy, Investment and Small Business Minister Chris Cardona praised the long history of healthy trade and diplomatic relations between Malta and Austria. He said 419 Austrian companies owned shares in Maltese firms, a fact that reflected the excellent business relations between the two countries.

The non-resident Austrian Ambassador to Malta, Michael Schwarzinger, also attended the forum, which was followed by a networking opportunity.