After arriving in Vienna, First Deputy Prime Minister Viktor Zubkov laid a wreath at the Heroes' Monument of the Red Army dedicated to the Soviet soldiers who were killed while liberating the city. "We have just honoured the memory of Soviet soldiers who gave their lives for the liberation of Vienna exactly 67 years ago, in April 1945. The Heroes' Monument of the Red Army in the central district of the Austrian capital shows that Austria understands the key, decisive role of the Soviet people in defeating Nazism. The monument highlights Austria's respect for the military feat of thousands of Soviet soldiers and confirms the perception of the genuine causes of World War II and its pace. The Austrian approach deserves praise especially against the backdrop of a dangerous trend to revise modern history and the results of World War II we are seeing in some other European countries," the first deputy prime minister told journalists.

Viktor Zubkov subsequently visited the Austrian Federal Economic Chamber and addressed leading representatives of the Austrian business community. The first deputy prime minister discussed in great detail the Russian government's efforts to facilitate national economic development, to improve the country's investment climate, as well as prospects for Russian-Austrian trade and economic cooperation.

Viktor Zubkov separately discussed the government's efforts to preserve macroeconomic stability as a major factor of sustained long-term economic development, an improved investment climate and Russian economic modernisation.

"Current results make it possible to feel optimistic about the future. The Russian GDP grew by 4.3% in 2011. This is the highest indicator in G8 and the third highest among the world's largest economies," the first deputy prime minister noted.

He stressed that the government's prompt system-wide measures had enabled key economic sectors to overcome the consequences of the global financial and economic downturn rather quickly. As an example, Viktor Zubkov mentioned the agro-industrial sector that posted 22% growth last year. "Today, Russia is the second largest grain exporter in the world. Russian grain is exported to more than 80 countries. The volume may reach about 27 million tonnes this year," the first deputy prime minister said. He also discussed in great detail the rapid development of Russia's energy industry, automotive industry and the implementation of major investment projects in the oil and gas sector. For instance, Mr Zubkov said the first stage of the Eastern Siberia–Pacific Ocean oil pipeline was now complete. He added that the Nord Stream gas pipeline had begun operating.

Viktor Zubkov drew the attention of Austrian business persons to the fact that Russia had attained a deficit-free budget in late 2011. "Russia is the only G8 country to have accomplished this objective," the first deputy prime minister noted. He added that Russia had only 6.1% inflation last year, an all-time low in the history of modern Russia. He said Russia reduced inflation by more than 50% in 2008-2011. "Russia's sovereign debt accounts for less than 10% of the GDP. At the same time, its external debt is just about 2%. This is among the best indicators worldwide. On April 1, 2012, Russia's accumulated international/gold and foreign currency reserves totaled $513.9 billion. Such reserves make it possible to keep the rouble stable," the first deputy prime minister concluded.

Viktor Zubkov also noted Russia's positive foreign trade trends and positive social changes, including reduced unemployment and real wage increases.

The first deputy prime minister talked about some short-term objectives including infrastructure development, the creation of jobs, increasing labour productivity through greater direct investment and the creation of a modern vocational training system. "Current investment levels account for some 20% of the GDP. We must increase that to at least 25% by 2015. In the future, the investment is to reach 30% of GDP," Viktor Zubkov said.

He said the Strategic Initiatives Agency, a new format for dialogue between society and the state, was a vehicle to expand business activity and to promote the business community's involvement in running the economy. Various development institutions are also expected to accomplish the same objective. The first deputy prime minister singled out the Russian Export Loans and
Investments Insurance Agency, which supports small and medium-sized businesses engaged in marketing high-tech products worldwide. "We must double high-tech exports by 2020, and the share of high-tech and intellectual innovation must reach 50% of GDP," Viktor Zubkov said.

The first deputy prime minister announced various measures to promote domestic demand for innovations, support investment in R&D projects and measures to expand such high-priority sectors as the machine-tool industry, the engine manufacturing industry, the production of new materials, the pharmaceutical sector, the aircraft industry, the ship-building industry and the agro-industrial sector. For this purpose, we will continue to support production alliances with leading global manufacturers, Viktor Zubkov said. These alliances will result in the creation of manufacturing with complete production cycles, as well as design and production development centres in the Russian Federation. Viktor Zubkov spoke about high-priority activities of such integration associations as the Customs Union and the Common Economic Space. He also said the Eurasian Economic Union would be initiated as soon as 2015. The first deputy prime minister said Russia's accession to the World Trade Organisation would promote national economic innovation. "You know, the negotiating process went on for many years. During that time we had basically started abiding by all WTO requirements," Viktor Zubkov noted.

Viktor Zubkov devoted a separate section of his speech to Russian-Austrian relations. "Austria is Russia's long-time, reliable partner. We are united by traditionally friendly ties. Our stable and predictable bilateral relations are distinguished by benevolent pragmatism, mutual respect and sympathy," the first deputy prime minister said.

He noted that Russia and Austria had successfully expanded their economic and investment cooperation. "After overcoming the crisis, we have once again attained positive trends in bilateral trade turnover. Russian statistics show that the trade turnover soared 40% last year and totaled $4.9 billion," the first deputy prime minister noted. In this connection, Viktor Zubkov praised the work of the Mixed Russian-Austrian Inter-Governmental Commission for Trade and
Economic Cooperation, as well as cooperation between the Russian Chamber of Commerce and Industry and the Austrian Federal Economic Chamber. He also noted cooperation within the format of the Russian-Austrian Business Council, which was established in 2007 on the initiative of President Vladimir Putin.

Viktor Zubkov made special mention of Russian-Austrian cooperation in energy. "Next year will mark the 45th anniversary of initial Russian gas distribution to Austria," the first deputy prime minister recalled. He said that Russia completely honoured its contractual obligations regarding gas deliveries to Austria, the oldest consumer of Russian fuel. "Gazprom is interested and takes every necessary action to facilitate more reliable gas deliveries to Europe. A project involving our Austrian partners stipulates the use of underground reservoirs in Austria and is being implemented for this purpose," Viktor Zubkov added. He said the planned South Stream gas pipeline was a major step making it possible to strengthen energy cooperation and to facilitate European and Austrian energy security.

Viktor Zubkov said negotiations between Russian President Dmitry Medvedev, Prime Minister Vladimir Putin and Austrian President Heinz Fischer during the latter's official Russian visit in May 2011 was a turning point in the bilateral partnership for modernisation. "The relevant policy documents signed during the visit, first of all the declaration on partnership for modernisation and the action plan to expand cooperation in economic modernisation, lay an important foundation for the diversification of Russian-Austrian ties, including a substantial increase in innovation," Viktor Zubkov noted.

He said the innovation and high-tech sectors, primarily information, bioengineering and nanotechnologies, metallurgy, engineering, transport, communications, healthcare, agriculture and forestry, tourism, environmental protection, energy-saving and energy-efficient technologies, were becoming the main reference points, guidelines and key concepts for Russian and Austrian businesses, as well as both countries' agencies overseeing foreign economic operations.

In this connection, Viktor Zubkov singled out the long-term nature of the July 2011 framework agreement on the guidelines of cooperation between the Skolkovo Foundation and the Austrian Federal Ministry of Transport, Innovation and Technology, the foundation's first international partner. The document was signed in Vienna. "About 30 Austrian firms have already voiced their intention to join the projects of the Skolkovo Foundation. We are ready to provide assistance to them to promote the fastest possible practical implementation of their projects," the first deputy prime minister noted.

Viktor Zubkov noted growing cooperation in the areas of automotive, aviation and railway transport and the construction of related infrastructure. "The experts of our countries continue to assess the prospects for extending broad-gauge railway tracks from Kosice to Vienna and the creation of a major logistics centre on the Danube River under a four-way cooperation agreement with Ukraine and Slovakia. The findings of independent experts on this trans-border project and the investment feasibility studies show that the profitable and mutually beneficial project opens up broad, and I would even say, strategic prospects regarding transport routes and freight transit between Europe and the Far East," the first deputy prime minister noted.

Mr Zubkov also spoke about the potential for bilateral cooperation in the tourism and sport industries. For example, he praised the involvement of Austrian companies in building Olympic facilities in Sochi. The first deputy prime minister then called on Austrian companies to take part in similar projects during preparations for the 2018 FIFA World Cup and during the creation of a North Caucasus tourist cluster, which will comprise a chain of winter resorts.

In conclusion, Viktor Zubkov underscored the importance of expanded inter-regional cooperation between Russia and Austria. "The cooperation between Russia's regions and Austria's federal states is, doubtless, an important pre-requisite for the expansion of our countries' trade, economic and investment cooperation. We are confident of the need to encourage long-term Russian-Austrian inter-regional ties in every way," the first deputy prime minister noted. In this connection, he introduced Tambov Region Governor Oleg Betin to members of the Austrian Federal Economic Chamber. Moreover, Viktor Zubkov congratulated Samara Region Governor Vladimir Artyakov on receiving an honourary badge from the Austrian Federal Economic Chamber.

The discussion of issues of bilateral trade and economic cooperation was continued at a meeting between the first deputy prime minister and members of the Austria-Russia Friendship Society. The society comprises members of the Austrian parliament, heads of some federal and regional ministries, departments and educational institutions, the Federal Economic Chamber, as well as major Austrian enterprises.

After the meeting, Viktor Zubkov negotiated with Austria's Federal President Heinz Fischer. The talks culminated in the signing of an agreement between the Government of the Russian Federation and the Government of the Republic of Austria on cooperation in infrastructure technologies. The document was signed by Viktor Zubkov and Austria's Federal Minister for Transport,
Innovation and Technology, Doris Bures.

"This agreement will promote the practical implementation of the declaration on partnership for modernisation and the action plan to expand cooperation in economic modernisation, which was signed during the May 2011 visit of Austria's Federal President Heinz Fischer to Russia. The document envisions mutual efforts to facilitate technology exchanges and expanded cooperation regarding the development of the infrastructure in transport, healthcare, energy, IT and communications solutions. This will make it possible to maximize the cost-effective use of the potential of our cooperation in these areas," Viktor Zubkov noted.

Issues of Russian-Austrian energy cooperation were examined at a meeting between Viktor Zubkov and
Gerhard Roiss, Chief of Austria's OMV AG oil and gas concern.

The first deputy prime minister will complete his Austrian visit on April 24 when he will negotiate with Austria's Vice Chancellor and Foreign Minister Michael Spindelegger.