Austrian Economics Minister Wolfgang Hattmannsdorfer announced plans to expand economic cooperation with Abu Dhabi following the creation of the chemicals firm Borouge Group International (BGI). The BGI deal is part-owned by both Austria and Abu Dhabi and is expected to pave the way for more business. Hattmanniederfer also expressed his desire to see Austrian firms in other industries establish stronger ties with the UAE. He highlighted the need for Europe to strengthen its competitiveness and diversify its trade partners following the announcement of U.S. tariffs.