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Austrian Foreign Trade News and Analysis
Read the latest headlines about developments in Austrian foreign trade
National Council President Sobotka Met Slovak and Czech Counterparts, Kollár and Vondráček
Austria's National Council President Wolfgang Sobotka invited his Slovak and Czech counterparts, Boris Kollár and Radek Vondráček, to discuss the cooperation between the three neighboring countries and other political issues.
August 31, 2020
Foreign Minister Alexander Schallenberg at the Informal Meeting of EU Foreign Ministers in Berlin
Austria's Foreign Minister Schallenberg has come together with the other EU Foreign Minister to discuss current foreign affairs. The main topics were the conflict between Greece and Turkey, the current situation in Belarus, relations between the EU and Russia, and the peace process in the Middle East.
August 28, 2020
Despite Covid-19 Crisis: Austrian Automotive Supplier Pollmann International Builds Plant in Mexico
Austrian company Pollmann International expands to Mexico where it will build a plant in order to better supply the Central and South American market.
August 25, 2020
Austrian Strabag Expands Rail Network in Eastern Germany
Austrian technology company Strabag will be significantly influencing the rail road system in eastern Germany because of a deal that has them extending rail lines in Berlin and between Leipzig and Dresden.
August 25, 2020
Vienna's Mayor Michael Ludwig Met German Vice Chancellor and Minister of Finance Olaf Scholz
Mayor Michael Ludwig and German Vice Chancellor Olaf Scholz met for a working meeting in Vienna. Discussions were held about economic relations and municipal topics such as affordable housing.
August 25, 2020
Austria's Second Amazon Distribution Center Opens in Vienna
Amazon opens its second parcel distribution center in Austria. 120 employees will work in the 7,900 square meter building.
August 20, 2020
US Ambassador Trevor Traina: Relations with Austria Stronger Than Ever
US Ambassador in Vienna Trevor Traina praises the improvement of US-Austrian relations in the recent year. A visit of President Donald Trump to Vienna is likely to happen once the travel restrictions fall.
August 20, 2020
US Secretary of State Mike Pompeo Visits Austria
The visit of US Secretary of State Mike Pompeo to Austria comprised discussions with highest officials of the Austrian government including Chancellor Kurz and President Van der Bellen. Discussions were held about the Covid-19 pandemic, bilateral relations as well as about topics of international importance.
August 17, 2020
Visit of US Secretary of State to Austria Results in a Joint Declaration by Austria and the United States
A joint declaration by Austria and United States was issued as part of US Secretary of State Mike Pompeo's visit to Austria. The declaration included, among other topics, commitment to rebuilding efforts after the Covid-19 crisis and the creation of an even better bilateral dialogue.
August 15, 2020
Austria's Federal Minister for Economic Affairs: New EU Trade Agreement with Vietnam Opens Doors
New EU trade agreement with Vietnam is likely to open doors to a very profitable market for Austrian businesses. Federal Minister for Economic Affairs Schramböck hopes that domestic companies can capitalize on the favorable conditions in the future.
August 1, 2020
Austrian Chamber of Commerce Promotes Business with Sri Lanka and Bangladesh
The WKO Austrian Federal Chamber of Commerce offers the opportunity to participate in a webinar on the opportunities for Austrian and European companies in the two countries Sri Lanka and Bangladesh with and after COVID-19.
July 27, 2020 · Sponsored Content
Indo-Austrian Trade and Investment Opportunities Post Covid-19
The FIEO - Federation of Indian Export Organisations is organising an interactive video conference session on “Trade & Investment Opportunities between India & Austria - Post Covid-19” with H.E Mr. Jaideep Mazumdar, the new Ambassador of India to Austria on Tuesday, 29th July, 2020.
July 13, 2020 · Sponsored Content
Arab - Austrian Expert Forum on the Economic Challenges in Light of Corona Pandemic
The economic obstacles that the Arab world faces due to the wide spread of the coronavirus, the enormous medical efforts that are being made to find a cure for this virus, and the challenges that the economic and trade relations between Arab countries and Austria in particular face in times of the coronavirus, were the main topics that centered around the geneticist and molecular immunologist Prof. Dr. Josef Penninger.
June 22, 2020
Another COVID Casualty: Austrian Airline Discontinues Flight Operations
The Austrian low-cost airline "Level" and subsidiary of British Airways (IAG International Airlines Group) has discontinued flight operations with immediate effect. The airline was hit hard economically by the consequences of the Covid 19 pandemic in Europe. A continuation of flight operations is not planned. About 200 employees in Vienna are affected by the bankruptcy.
June 19, 2020
Drastic Drop of over 99% in Passengers at Vienna International Airport
The worldwide travel restrictions and flight cancellations resulting from Covid-19 have had a major impact on the development of traffic and earnings AT Vienna International Airport (Flughafen Wien Group). In April, the Group recorded a decline of 99.6% in the number of passengers and 99.5% at Vienna International Airport. Revenues for Q1/2020 fell by -9.0% to € 161.4 million.
May 20, 2020
War for Global Telecom Infrastructure Supremacy: Vienna first EU Capital with Area-wide 5G Network
While the Third World War is raging backstage between the USA and China for world supremacy in 5G infrastructure, Huawei wins another milestone in Vienna. Digital City Councilor Peter Hanke has set the goal "Vienna should become the first city in Europe with a complete 5G network". The city is supporting the network expansion with 20 million euros.
May 18, 2020
Austrian Chancellor Kurz at 10 Downing Street
Chancellor Kurz met with British Prime Minister Boris Johnson in London today. The discussion with Johnson focused on London's future relations with the European Union.
February 25, 2020
Business with China Slumps: Chamber of Commerce Sets Up Coronavirus Hotline
Because of the coronavirus crisis, the Austrian Federal Economic Chamber (WKO) is now also reacting and setting up an auxiliary hotline for the approximately 1,000 affected companies in the Austrian-Chinese trade.
February 23, 2020
Coronavirus: Infopoint for Affected Companies
The Austrian Federal Economic Chamber has set up a central contact point in Vienna for companies that have requests in connection with the coronavirus. The "Coronavirus Infopoint" brings together all information from Austria and abroad on this topic.
February 19, 2020
Follow-up Meeting between US President Donald Trump and Chancellor Kurz
Following Alexander Schallenberg's visit to Mike Pompeo just a few days ago, the Federal Chancellery has now confirmed, according to various media, the fact that Sebastian Kurz will also be travelling to Washington, D.C. at the beginning of March.
February 14, 2020
US Secretary of Commerce Wilbur Ross in Vienna
The 82-year-old United States Secretary of Commerce Wilbur Ross, who has been in office since February 28, 2017 and was nominated by Donald Trump, visited Vienna and met, among others, US Ambassador Trevor Traina, WKO President Mahrer, Finance Minister Blümel, Environment Minister Gewessler and Economics Minister Schramböck.
February 11, 2020
Digital Tax: Google Charges Customers
The search engine operator Google wants to collect the new digital tax, which has been levied in Austria since January on income from online advertising by international corporations, in its entirety from its advertising customers.
January 31, 2020
Russian Embassy: Economic Networking Russia and Austria
In order to promote economic relations between the two countries, Ambassador Dmitrij Ljubinskij invited about 160 members of the Wirtschaftsforum der Führungskräfte (WdF) to the Russian Embassy in Vienna (Nassaupalais - Palais Simon Vienna).
January 31, 2020
EXPO 2020 Dubai: Groundbreaking Ceremony at the Austria Pavilion
Preparations are in full swing for the first world exhibition in an Arab country. The construction phase of the Austria Pavilion has also begun.
November 18, 2019
Austro-Arab Chamber Secretary General Receives “Decoration of Merit in Gold of the Province of Vienna”
The AACC Austro-Arab Chamber of Commerce in Vienna announced that Secretary General Dipl.-Ing. Mr. Mouddar Khouja was awarded the "Decoration of Merit in Gold of the Province of Vienna", in recognition of his dedication and devotement to the province of Vienna through his personal initiatives and in his professional capacity as Secretary General of AACC.
November 4, 2019
30th Anniversary Celebrations of Austro- Arab Chamber of Commerce
The AACC Austro-Arab Chamber of Commerce held a gala in the ballroom of the Vienna City Hall on the occasion of its 30th anniversary and on the occasion of the 11th Arab-Austrian Economic Forum & Exhibition.
October 25, 2019
Austria Connect Greater China: Digital Transformation and Tomorrow's Customers
The Austrian Chamber of Commerce in Hong Kong hosts the largest Chinese-Austrian networking event in Asia.
October 22, 2019
Belgrade and Vienna Sign Cooperation Agreement
Not only the Danube connects Vienna with the Serbian capital Belgrade, but now also a new city cooperation agreement with a focus on urban development, affordable housing, smart city, digitisation, open government and culture.
October 21, 2019
Overseas Investments: Number of Austrian Subsidiaries Abroad Increased By 2%
The number of foreign subsidiaries of Austrian companies that were part of a domestic group or owned by Austrian shareholders rose by 2.0% to around 6,000 in 2017.
October 14, 2019
City of Vienna Positions Itself at UNIDO Silk Road Conference
At the recent two-day international silk road conference hosted by UNIDO, the Vienna Chamber of Commerce and Industry, represented by location lawyer Alexander Biach, took a stand and presented the opportunities and advantages of the Vienna region and the possibilities of a connection to the new Silk Road (Belt and Road Initiative).
September 24, 2019
Hong Kong and Vienna Seal Cooperation
In what is probably the most politically difficult time for Hong Kong, the Chambers of Commerce of Vienna and Hong Kong conclude an agreement with the aim of promoting economic development.
September 22, 2019
Investing in Austria: New Provisions for the Screening of Foreign Direct Investments
The Federal Ministry for Digital and Economic Affairs recently published a consultation draft for amendments to those provisions. The new regulation is supposed to create more transparency and certainty around FDIs in Austria.
September 19, 2019
Pfizer Invests 50 Million Euros in Lower Austria
Pfizer is expanding its site in Orth an der Donau by investing 50 million euros in the construction of new laboratories for an international quality control center for vaccines, the construction of modern office space and the modernization and expansion of the existing production infrastructure. Pfizer already produces two vaccines for worldwide export in Orth an der Donau.
August 28, 2019
Ikea Logistics Centre Vienna Completed: €70 Million Investment Volume
One year after the start of construction work, the Ikea logistics centre with 43 loading gates has been completed. To date, Ikea has invested more than 70 million euros in the site. The site will have a total of 150 employees.
August 25, 2019
Austria ist Überall: Austria's Exporters in the United States
The Austrian Trade Commissioner in New York, Michael Friedl, is pleased about the successful business of Austrian companies in the US American market with record export figures of 10.6 billion euros and a trade balance surplus of 4.6 billion euros.
August 23, 2019
What Does Vienna Have in Common with the New Silk Road?
In order to ensure sustainable development, the cities along the New Silk Road also have to face major infrastructural and social challenges, as well as climate-ecological challenges. More than 1000 participants from more than 178 cities are expected in September in the Vienna International Center for UNIDO's Bridge for Cities Conference as part of the Belt & Road Initiative.
August 12, 2019
BMW to Invest 28 Million Euros in Salzburg Location
Within the framework of a festive event under the theme "Good for Salzburg. Good for Austria." the BMW Group recently laid the foundation stone for its new BMW Group Campus Salzburg for Central and Southeastern Europe. BMW is investing 28 million euros in the expansion of 400 employees. The inauguration of the new campus is planned for autumn 2020.
August 5, 2019
Foreign Trade Gains with the Western Balkans
Exports worth 1.35 billion euros to the EU accession candidates of the Western Balkans (Albania, Bosnia and Herzegovina, Kosovo, North Macedonia, Montenegro, Serbia) are balanced by imports to Austria worth 1.25 billion euros.
July 16, 2019
Foreign Trade: Imports and Exports Pass the 150 Billion Euro Mark for the First Time
The total nominal value of imports of goods in 2018 was 5.8% higher than in the previous year at 156.06 billion euros, while exports of goods rose by 5.7% to 150.1 billion euros. This results in a trade deficit of 5.99 billion euros. More than half of Austria's foreign trade was spread across only five countries.
July 10, 2019
Massive Slump in Austrian Exports to Iran
Trade between Iran and Austria is shrinking. Austrian exports to Iran fell by 11.1 % in 2018, as the Foreign Trade Centre Tehran of the Chamber of Commerce reported. In addition, a further decline is expected after the negative GDP growth in 2018/2019. In addition, there are fears of a further currency decline of the rial and rising inflation.
June 24, 2019
Business and Networking Event at the Embassy of India in Vienna
The Embassy of India in Vienna hosted a business talk and networking session with the purpose to bring together Austrian companies having business interest in India and to provide them with a platform to share their experiences and to provide answers to their queries.
June 12, 2019
Largest Chinese Bank Opened Branch Office in Vienna
China's largest bank, ICBC - Industrial and Commercial Bank of China was officially commenced for business in Vienna. Mr. Li Zhanshu, Chairman of the Standing Committee of the National People's Congress, who was on an official visit in Austria attended the opening ceremony of ICBC Austria Bank GmbH (ICBC Austria).
May 28, 2019
Austro-Arab Chamber of Commerce Strengthens Links with Iraq
Representatives of the AACC visited Baghdad to further develop the foundation for Iraq-Austria business relations. Visits and contacts with, among others, the Mayor of Baghdad, the Ministry of Electricity, the Governor of the Central Bank and the Federation of Iraqi Chambers of Commerce were on the agenda.
May 20, 2019
Opening of the New Austrian Foreign Trade Centre in Vietnam
The Austrian Federal Economic Chamber's largest economic mission to Vietnam and Singapore is currently travelling in Southeast Asia to open a new base in Ho Chi Minh City and to sign a cooperation agreement in Singapore to establish a new Accelerator Programme.
May 16, 2019
Russia Expands Network in Upper Austria
Wolfgang Mayer of the company Backaldrin was elected Honorary Consul of the Russian Federation for Upper Austria in Asten/Upper Austria by the Russian Ambassador in Austria, H.E. Dmitrij Ljubinskij. After the already established Honorary Consulates in Innsbruck and Bludenz, he thus takes over the third Russian Honorary Consulate in Austria. His task is to look after the 3000 Russians in Upper Austria and to promote culture and education.
May 16, 2019
National Council Chairman: Liechtenstein an Important Economic Partner
The Chairman of the National Council Wolfgang Sobotka pays tribute to the Principality of Liechtenstein as neighbour and friend.
May 3, 2019
CETA Complies with EU Law - Austria Signs Free Trade Agreement with Canada
The agreement had been provisionally in force since the previous year and exports to Canada had recently risen by 7.5 percent. Now that the European Court of Justice has ruled that CETA, especially the arbitral tribunals, is in conformity with EU law, this is welcomed in Austria by business-oriented institutions and Federal President Alexander Van der Bellen has confirmed his willingness to sign the agreement.
May 2, 2019
Belt and Road Initiative - China's Reconquest of the World
Many heads of state did refrain from appearing at the second Belt and Road Forum for International Cooperation in Beijing this year, or are increasingly expressing themselves critically. Chancellor Sebastian Kurz also expressed his caution after meeting President Xi and Prime Minister Li Keqiang for talks.
April 26, 2019
Alibaba's Jack Ma Hosted Lower Austrian Business Delegation
In order to improve bilateral relations and exports between Lower Austria and the Chinese partner province Zhejiang near Shanghai, a large delegation from Lower Austria headed by Governor Johanna Mikl-Leitner was touring East China this week. The plan is to increase goods exports by 100 million euros within four years.
April 26, 2019
Mobile Bank N26 Invests in Tech Centre in Vienna
Germany's mobile bank N26 plans to hire more than 300 software engineers, product managers and IT specialists in Vienna in the long term and up to 100 in the medium term. The office is scheduled to open in autumn 2019, and specialists will be recruited with immediate effect.
April 26, 2019
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