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Austrian Foreign Trade News and Analysis
Read the latest headlines about developments in Austrian foreign trade
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The 12th Arab-Austrian Economic Forum Featuring the Arab Republic of Egypt
This year's Austro-Arab Chamber of Commerce forum features the Arab Republic of Egypt as the guest country and focuses on energy, railway and tourism, while presenting an insight into Egypt’s economic landscape and development and highlighting lucrative investments the country has to offer.
October 19, 2021
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Western Balkans: First Foreign Trip of the New Austrian Foreign Minister Michael Linhart
Austrian Foreign Minister Michael Linhart went on his first trip abroad since becoming the foreign minister. Linhart traveled to the Western Balkan state of Bosnia and Herzegovina to meet with members of the international presence, business leaders, and various politicians, including his Bosnian counterpart Bisera Turković. Read more about his trip.
October 15, 2021
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Strengthening Economic and Political Relations between Australia and Austria
The Foreign Affairs Committee of the Austrian Parliament is discussing a state treaty with Australia, which aims to create better framework conditions for a strengthened partnership and the further expansion of trade and investment flows.
October 15, 2021
Austrian Foreign Trade: Imports and Exports Above Pre-Crisis Levels
Austria's foreign trade again recorded strong growth in July 2021. Imports rose by 18.3% year-on-year and exports by 10.4%. This means that foreign trade was already above pre-crisis levels. Compared to July 2019, imports reached 101.3% and exports 104.5%.
October 14, 2021
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Messe Wien Celebrates 100 Years
Messe Wien, the largest trade fair in Vienna, is celebrating its 100th anniversary this fall. To celebrate the occasion, Vienna Mayor Michael Ludwig attended a presentation of a new book that details the one-hundred-year history of the Messe Wien. Read about the new book and the significance of Messe Wien.
October 13, 2021
President of Georgia, Salomé Zourabichvili, in Austria
The President of Georgia, Salomé Zourabichvili, recently visited Austria and was hosted by President Van der Bellen at the Vienna Hofburg. The two heads of state discussed various issues, including the current political crises in Georgia and Austria. Read about the visit and what the presidents said at their joint press conference.
October 13, 2021
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Number of Foreign-Controlled Enterprises in Austria Declines
About 11,700 companies in Austria were owned by foreign groups or had owners based abroad in 2019, down about 200 companies or 1.6% from the previous year. Conversely, Austrian companies owned about 6,000 subsidiaries abroad; this was about 0.2% more than the year before.
October 12, 2021
Polish-Austrian Relations: Official Visit and Business Forum in Warsaw
Polish President Andrzej Duda hosted Austrian President Alexander Van der Bellen in Warsaw for the first official visit of an Austrian President in Poland since 2009. The two had a meeting and held a joint press conference in which they discussed various issues, including Poland's current issues with the EU. Van der Bellen also attended an economic forum and met with other Polish leaders. Read more about the details of the President's visit to Poland.
October 6, 2021
ReFocus Austria: Roundtable in New York as First Initiative in the U.S.
On his stay at the 76th United Nations General Assembly in New York, Foreign Minister Schallenberg held a roundtable event with Austrian and U.S. entrepreneurs to exchange ideas. This was the first of the ReFocus Austria initiative events in the U.S. aimed at strengthening the Austrian economy. Read more about ReFocus Austria and what was discussed at this event.
September 30, 2021
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World Expo Dubai: Architecture Award for Sustainable Austria-Pavilion
The Austrian pavilion at the World Expo in Dubai by querkraft architekten consisting of 38 white cone towers has won the first prize in the category "Sustainable Architecture" at the Global Design & Architecture Design Awards 2021.
September 29, 2021
OPEC's World Oil Outlook 2021 Launched in Vienna
OPEC's flagship annual publication, the World Oil Outlook 2021, was launched via videoconference in Vienna. OPEC forecasts 6% increase in global oil demand in 2021. Learn about the specific highlights of this year's World Oil Outlook.
September 29, 2021
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Doing Business with the United Arab Emirates: World Expo 2020 Opens in Dubai
The World Expo 2020, which kept its name despite being delayed to 2021, is set to begin in Dubai on 1 October. The United Arab Emirates (UAE) has been a particularly sought-after market for many Austrian companies. Read about the upcoming Expo, the economic relationship between Austria and the UAE, and some of the many Austrian companies that have found success there.
September 23, 2021
Vietnamese Business Delegation in Vienna
The Chairman of the Vietnamese National Assembly, Vuong Dinh Hue, and a high-ranking business delegation recently attended a business forum in Vienna with the Austrian Chamber of Commerce (WKÖ) Vice-President Richard Schenz. The forum included discussions about the dynamic Vietnamese economy and why it is an ideal location for Austrian companies and investors to diversify in Asia.
September 22, 2021
Security and Stability: Austria Deepens Cooperation with UAE, Saudi Arabia and Oman
Foreign Minister Schallenberg visited the UAE, Saudi Arabia, and Oman on a four-day trip to the Gulf region. While there, he spoke with various officials, including his counterparts: UAE Foreign Minister Abdullah bin Zayed bin Sultan Al-Nahyan, Saudi Foreign Minister Prince Faisal bin Farhan Al-Saud, and Omani Foreign Minister Sayyid Badr Albusaidi. The main topics of discussion were security, especially regarding extremism, and economic recovery from the COVID-19 pandemic.
September 15, 2021
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"Made in Austria": Ambassadors to Serve as Export Promoters
The Austrian government is calling on its diplomats around the world to promote Austria's export and tourism industries abroad to help the economy recover from the COVID-19 crisis. At the opening event of "ReFocus Austria", Chancellor Kurz, Foreign Minister Schallenberg, and Vice-President of the Federal Chamber of Commerce (WKÖ) Martha Schultz laid out the government's plan. Read about "ReFocus Austria," what these officials said about it, and watch the video of the opening event.
September 10, 2021
Vučić Hosted Kurz: The "Fight Against Illegal Migration"
Serbian President Aleksandar Vučić recently received Chancellor Kurz in Belgrade. The two of them spoke about illegal migration, especially regarding the refugees fleeing from Afghanistan. Other topics of discussion included bilateral relations and the EU rapprochement process. Kurz also spoke with Serbian Prime Minister Ana Brnabić about EU accession for the Western Balkans.
September 7, 2021
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The Chamber of Commerce Switzerland-Austria-Liechtenstein Turns 100 Years Old
The Chamber of Commerce Switzerland-Austria-Liechtenstein or Handelskammer Schweiz-Österreich-Liechtenstein (HKSÖL) has supported economic relations between the countries for 100 years. They provide professional assistance to companies in these countries and Central and Eastern Europe. The HKSÖL has facilitated a particularly successful economic relationship between Austria and Switzerland. Read more about what the HKSÖL does and the Austro-Swiss economic relationship.
August 27, 2021
Importance of Economic Relations Between the United States and Austria
The American Chamber of Commerce in Austria (AmCham Austria) presented a new study on the importance of economic relations between the United States and Austria. AmCham also provided a position paper with five key recommendations to the Austrian Minister for Digital and Economic Affairs Dr. Margarete Schramböck and Secretary-General of the Austrian Foreign Ministry Peter Launsky-Tieffenthal. Read about the findings of the study and AmCham's recommendations.
August 23, 2021
Casinos Austria International in Japan: Casino Resort Milestone Completed
CAI, a wholly owned subsidiary of Casinos Austria AG, has cleared an important hurdle in an elaborate selection process in Japan (Nagasaki Prefecture) for one of the three casino licenses to be awarded.
August 20, 2021
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Economic Opportunity: Malaysian-Austrian Joint Statement on Cooperation
Malaysian Minister of International Trade and Industry Mohamed Azmin Ali met with the Austrian Minister of the Economy Margarete Schramböck. The pair discussed cooperation in the high-tech industry, education and more. The two ministers also signed a joint statement, affirming Malaysia and Austria's intention of further economic cooperation.
August 3, 2021
Pioneering Hydrogen Alliance between the United Arab Emirates and Austria
On the occasion of the visit of the Ruler and Crown Prince of the Emirate of Abu Dhabi, Sheikh Mohamed bin Zayed bin Sultan Al Nahyan to Austria, the United Arab Emirates (UAE) and Austria agreed on a strategic partnership. The core of the agreement is closer international cooperation in the fields of hydrogen, renewable energy, youth exchange, green technologies, digital economy and research, according to the UAE Embassy in Vienna and Chancellor Kurz.
August 1, 2021
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What Is the Joint Vienna Institute and What Does It Do?
The Joint Vienna Institute (JVI) is a Vienna based International Organization which provides policy-oriented training primarily to public sector officials from countries in Central, Eastern and Southeastern Europe, the Caucasus and Central Asia, and other selected countries. It has been a hallmark of cooperation between the IMF and Austria for 29 years. Find out how the institute justifies its existence.
July 22, 2021
Opportunities for Businesses in India and Austria
The Ambassador of India to Austria, H.E. Jaideep Mazumdar, and the President of the Federation of Austrian Industries discuss collaboration between Indian and Austrian companies.
July 19, 2021
Corona Year 2020: Austria's Foreign Trade with Sharp Declines Compared to the Previous Year
The effects of the Covid-19 pandemic led to a significant decline in the overall Austrian foreign trade values (imports -8.6% and exports -7.5%). Following are the exact developments of the regions and details on the most important trading partners.
July 16, 2021
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Arab Ambassadors in Vienna and Economic Relations between their Countries and Austria
The Ambassadors from Egypt, Iraq, Jordan, Morocco, Oman, Palestine, Qatar, Tunisia, and the UAE to Austria provided an economic overview of their countries and their relationship with Austria in an online forum with the Austro-Arab Chamber of Commerce (AACC).
July 11, 2021
Austrian-Based EU Strategy for the Danube Region Celebrates Anniversary
The EU Strategy for the Danube Region celebrates its 10th anniversary by highlighting its importance and contribution to Europe. 14 countries with a population of around 115 million people make up one of the strongest economic forces on the European continent.
June 29, 2021
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Kosovo's President Meets Van der Bellen in Vienna
Kosovo's President Vjosa Osmani-Sadriu traveled to Vienna to meet with her Austrian counterpart Alexander Van der Bellen. The main topics of their discussion were the progress in the EU accession process and bilateral cooperation in various fields. Read more about the meeting below.
June 24, 2021
Saudi Arabia Aims to Deepen Relations with Austria
During a working visit by the Saudi Arabian Foreign Minister Prince Faisal bin Farhan bin Abdullah Al Saud in Vienna, he and his Austrian counterpart Alexander Schallenberg have agreed on expanding trade relations and other economic cooperations. Read more below.
June 23, 2021
South Korean President in Vienna
The South Korean President Moon Jae-in has met his Austrian counterpart Alexander Van der Bellen and the Austrian Chancellor Sebastian Kurz in Vienna to discuss the Covid-19 pandemic and a strategic partnership.
June 15, 2021
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Switzerland and Austria Sign Strategic Partnership Agreement
Switzerland and Austria enter in an era of even greater cooperation. The Swiss Foreign Minister, Ignazio Cassis, and his Austrian counterpart, Alexander Schallenberg, have signed a strategic partnership agreement.
June 14, 2021
Taiwan and Austria: Current State of Political and Trade Relations
The relations between Taiwan, officially the Republic of China (ROC), and Austria are developing stably despite the current tensions in the South China Sea.
June 1, 2021
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China and Austria: Extension of Climate Neutrality Research Agreement
On the occasion of the 50th anniversary of diplomatic relations between China and Austria, the Chinese Minister of Science and Technology Wang Zhigang and Austria's Climate Protection Minister Gewessler extend the agreement for cooperation in research and technology in the field of climate neutrality.
June 1, 2021
New Cargo Airline Relocates to Austria
Express service provider DHL Express is relocating a large part of its cargo airline from England to the Vienna area. The new cargo airline for the European market, based in Austria, is said to be a strong signal for the location.
May 26, 2021
Slovakian Prime Minister Meets Kurz and Van der Bellen
The newly appointed Prime Minister of Slovakia Eduard Heger has travelled to Vienna to meet with Chancellor Sebastian Kurz and President Van der Bellen. On the agenda of the working meetings were the Covid-19 pandemic, border management and nuclear energy. Read below to find out more about possible bilateral agreements with regard to the "Green Passport".
May 6, 2021
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Dubai Expo: Which Austrian Companies Will Benefit from the Exhibition in the UAE?
Expo 2020 Dubai, which will take place in the United Arab Emirates from October 1, 2021 to March 31, 2022, is advertised above all as an opportunity for "Austrian companies to make a lasting impression with their innovative strength and creativity". The fact is that so far apparently only a handful of construction and design-related companies directly involved in the development of the Austrian pavilion financed by Austria are benefiting from the project. Which Austrian companies are involved in the project, you will find out in the following.
April 27, 2021
Activities of Arab Countries in Vienna to Strengthen Mutual Cooperation
The Austro-Arab Chamber of Commerce (AACC) under Secretary General Eng. Mouddar Khouja reports on various activities and means to strengthen mutual cooperation between Austria and the Arab countries UAE United Arab Emirates, Egypt and Qatar.
April 25, 2021
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Extension of Austria's Internationalization Program "go-international" Announced
Austrian Economics Minister Margarete Schramböck and President of the Austrian Federal Chamber of Commerce (WKO) Harald Mahrer extend the joint internationalization offensive "go-international" and provide EUR 25.6 million for the next two years. The funding will focus on the areas of innovation and technology, value chains and digitalization.
April 20, 2021
Austrian Companies Develop Innovations for Africa
On the occasion of the "Africa Innovation Challenge 2021" organized by Advantage Austria - Aussenwirtschaft Austria, several Austrian companies have developed innovative solutions to solve societal challenges in Africa's dynamic markets. At the World Summit Award (WSA), five projects have been selected champions by an international jury.
April 19, 2021
Austrian Foreign Trade: Covid-19 Pandemic Takes its Toll
Austria's imports and exports both declined heavily in 2020. A year characterized by the Covid-19 pandemic, the total value of imports decreased by around 9 percent compared to 2019, while Austrian companies exported 7.5 percent less than the year before. In total, imports and exports resulted in a trade balance deficit of around EUR 2 billion.
March 15, 2021
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Swiss President Visits Austria
The new Swiss President Guy Parmelin conducted his first trip abroad to meet with Austria's Federal President Alexander Van der Bellen and National Council President Wolfgang Sobotka in Vienna. The politicians discussed the Covid-19 situation in Europe, the Swiss relations with the EU and bilateral cooperation between Switzerland and Austria.
March 4, 2021
New EU Trade Strategy: Schramböck Welcomes Proposal
Austria's Minister of Economics Margarete Schramböck welcomes the European Commission's document on a new EU trade strategy. The proposal incorporates various topics that will determine the EU's trade strategy for the next few years. Lessons learned from the Covid-19 crisis with regard to inner-European policy as well as international trade is accounted for in the proposition.
February 18, 2021
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How the EU-Japan Economic Partnership Agreement Benefits Austria
The EU-Japan Economic Partnership Agreement (EPA) celebrates its second anniversary by adding 28 protected geographical indications, one of them important for Austria, and facilitating trade in wine and vehicles. The agreement does not only benefit the EU as a whole, but has also immediate impact on Austria's economy.
February 8, 2021
US Ambassador Traina Leaves Austria
The U.S. Ambassador to Austria Trevor Traina has concluded his mission and returns to his home country. Austria's Chancellor Kurz and Foreign Minister Schallenberg thank Traina for his commitment to better the bilateral relations between the two countries, while Traina himself bids farewell in a video starring highlights of his term.
January 26, 2021
New US Presidency: Austria and EU Welcome New Chapter
Joe Biden, as new President of the United States, and Kamala Harris, as new Vice President, were inaugurated on January 20, 2021. The reactions from politicians throughout the European Union and Austria to the inauguration and the President's first acts were filled with hope and positivity.
January 22, 2021
Brexit Agreement: Austria's Economy Significantly Better Off
The Austrian Institute of Economic Research (WIFO) has issued a study in which the effects of the post-Brexit trade agreement between the United Kingdom and the European Union was compared to a no-deal scenario. The results of the study show that the Austrian economy be happy with the negotiated agreement.
January 14, 2021
Eurochambres President Demands Repositioning of EU
After the post-Brexit trade deal between the EU and the United Kingdom has finally been set up, Eurochambres President Christoph Leitl demands repositioning of the European Union and does not only see negative impacts of the UK leaving the single market and the customs union.
January 11, 2021
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Austro-American Society Celebrates 75th Anniversary
The Austro-American Society (ÖAG) celebrated it 75th anniversary on January 6, 2021. The Austrian Ambassador to the USA, Martin Weiss, the U.S. Embassy in Vienna, and the heads of the ÖAG used this occasion to underline the goals of the society's. These comprise the strengthening of the Austro-American relations in the aspects of social, economic, cultural and public life.
January 7, 2021
Investment Agreement with China Opens Doors
The European Union and China have agreed on a joint investment agreement. The core elements of the "Comprehensive Agreement on Investment" (CAI) include better market access, sustainability and a level playing field for European and Chinese companies. Considering the fact that China will be the biggest economy of the world in the near future, the agreement opens doors to a huge market.
December 30, 2020
Schramböck: "UK Will Remain Important Partner in Europe"
Although the United Kingdom will be leaving the European Union's customs union and single market at the end of 2020, Austria's Economics Minister Schramböck assures that "Austria's companies will continue to play a significant role in the UK markets" in the future. The newly negotiated agreement between the UK and the EU will provide a proper framework for these business relations.
December 30, 2020
WKO: Importance of Trade Agreements
The chairman of the Federal Board for Foreign Trade in the Austrian Federal Economic Chamber (WKO), Karl Pisec, underlines the importance of international trade agreements for the European Union as well as for Austria. As an example to show benefits of trade agreements, he uses the EU's agreement with the Mercosur states and the Regional Comprehensive Economic Partnership in Asia.
December 23, 2020
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