And that is why we have agreed on cooperation in economic matters, and every two years a bilateral economic conference must be organized. They will be organized by the ministers of economy with the participation of company representatives. Poland is the largest economy in this part of the European Union, and also has the greatest economic growth. This creates extraordinary opportunities for both of our countries. And Erste Group, this bank, is a good example of such cooperation. I am also glad that Peter Bosek, the CEO of Erste Group, is a member of our delegation, and this afternoon we will visit the headquarters of Erste Bank Polska. And we want to connect not only economically, but also in human relations.
Austria is investing one billion euros in the expansion of the railway line from Vienna to Warsaw to cut the travel time in half. The central issue that concerns us is our competitiveness. And this is about the foundations of prosperity for our children and grandchildren. Only an innovative and united Europe will be able to represent its interests in a time when we have so much uncertainty.
Security for markets is also important. We must remove barriers, reduce administrative burdens, and the decisive issue here is the supply of energy, electricity. In Europe we have structural problems and, like other countries, we suffer from high gas prices, for example. And this in turn affects other areas. In Austria we are very advanced when it comes to electricity production from renewable energy sources. But as long as the merit order effect works, we in Austria will pay for renewable energy the same amount we pay for electricity from gas-fired power plants. And that is why we need appropriate action at the European level to lower gas prices.
Ladies and gentlemen, dear Donald, cooperation with neighbors is a very important topic of Austrian foreign policy. We would like Poland and Austria to cooperate even more closely with each other bilaterally, but also within regional cooperation and with other countries of Central Europe. It is clear to us that if we join our forces, if we speak with one voice, we will also find allies in Brussels and around the world politically, culturally, economically, and historically. This whole region is closely connected. Our countries face similar challenges and have similar goals to achieve. We must use this potential and coordinate our actions, and our neighbors are our closest and most logical allies.
And allow me, gentlemen, to say a few more words about migration, because it is a topic that concerns us. The legal protection of the European Union's borders is a condition for a fair and consistent migration policy. Yes, the external border of the European Union, but also as the host country of Frontex, Poland has a special role here. And here I would like to thank you for your cooperation, dear Donald. The protection of external borders is not a national task, and here you can also rely on cooperation with Austria and on our solidarity.
Today I will also visit the headquarters of Frontex in Warsaw to form an opinion on border protection and the fight against crime. What I would also like to emphasize is that we must cooperate on readmission issues and the creation of return centers. And we simply proceed from the assumption that if someone does not have the right to stay in Europe, they must leave Europe. And we saw shocking images from the sea in the summer, and we must simply be better prepared for such events.
And we also talked about the fact that we live in times when instruments of hybrid warfare are appearing. You also notice this on the Polish border, and the point is that member states should also have the right to suspend the right to submit asylum applications. Of course, this is connected with Russia's aggression against Ukraine, and dangerous information is reaching us. Hybrid attacks do not stop at the national borders of individual countries. This leads to the destabilization of our democracy. This means that we will also cooperate on this issue and must be solidary. And here Poland can rely on support from Austria.
Just as among friends, Russian attempts to destabilize and intimidate European Union member states will not succeed either. Although Austria is militarily neutral, we must take such problems into account, and we will also contribute to strengthening European resilience. Dear Donald, the last official visit of a Polish prime minister to Austria took place 15 years ago, and you were already in office then. And I am glad that I can return the invitation to come to Vienna, and I would be delighted if you would visit me in Vienna as soon as possible. Once again, thank you for the warm welcome, for the exchange of views, for the good conversations, and I look forward to further cooperation and talks.
We have time for a few questions. Please indicate who they are addressed to, and let us take the first one.
Mr. Chancellor, how specifically do you envision strengthened cooperation in the field of security? You have already spoken about cooperation, and Poland is actively arming itself against Russia. What do you expect from Austria as a contribution? Thank you very much.
Regarding the question about cooperation, we have many areas where we could cooperate more closely. These are economic topics, but also the issue of security, Frontex, the border guard, and also the issue of this hybrid war against us. Everything that destabilizes Europe destabilizes the unity of the European community. Austria is, after all, part of the European Union. In the past we made contributions, and we will also make them on this matter. We are solidary with Ukraine. We supported the sanctions packages because we knew that this is Russia's war against Ukraine, which threatens our security. And it is not about what we support, but that we support it, and we must talk about it. In what form we found a way in the past, I am convinced that in individual situations in the future we will also do so.
The status of Austria as a neutral state. This is a special status at a time when the threat of war is real. This war is taking place right on our border. And we are getting more and more signals that escalation from Russia will continue. That is why we assess with the highest regard the engagement of Austria, a neutral state, as I have already emphasized, in maintaining full European solidarity around Ukraine and in helping Ukraine in the war against the aggressor. And this is not about words regarding solidarity, but about very concrete undertakings. If Poland is a country that, thanks to the SAFE program, obtained 44 billion euros for defense, that required full cooperation and solidarity with the member states.
And the reshaping of European policy very clearly towards security, the protection of the land border against illegal migration, but also securing that border against potential aggression. All of this was possible thanks to Austria's solidary stance. If a neutral state does this, it means even more that in the most important matters we are together and can count on each other. From my point of view, of course, the key commitments of allies are crucial: Article 5 in the event of aggression, and a consistent sanctions policy. We have very many instruments, and we could always count on Austria here in applying certain instruments of pressure on Russia. For now it does not work, that is, the war continues, but it works in the sense that Ukraine also endures thanks to this help, including Austrian and Polish help. So I do not feel any deficit of Austrian actions and support for this line.
I will ask for the next question.
Maciej Adamiak, Polish Television. I would like to ask you both what your positions are today on the EU budget for the years 2028-2034, and whether they have moved closer, given that so far Poland has mainly spoken about increasing this budget and Austria about reducing it?
It is connected with the nature of things that we have 27 states in the European Union and they have different positions. Regarding the financial framework, I also have three different parties in my coalition government. In fact, Austria proposed consolidation for the national budget, and we also talked about this in the case of the European budget. We pointed out that we must spend an additional 10 billion euros on our defense, and therefore we will have to join the European security landscape. Regarding the European Union budget, there is indeed a situation where we proceed from the assumption that the volume is too large, and we must also examine priorities within this budget. And we have times when, as far as finances are concerned, we have shortages, and this must also be taken into account in the budget for the coming years.
As for Austria, we have important points. There are matters that unite us, but also those that divide us, also regarding the budget. We want to reduce its volume. In Austria too, agriculture is of great importance, and simply if a lot of money is allocated for various fields, money must not be lacking for agriculture either. And when Poland becomes a net contributor soon, there will be more elements uniting us, because this will also concern rebates within the negotiations.
To the Chancellor, particularly those last ones.
