Sponsored Content
Foreign Trade
India's Finance Minister Visits Vienna to Intensify Trade and Economic Partnership
The visit of Indian Finance Minister Nirmala Sitharaman to Vienna marks a significant step towards deepening bilateral relations between Austria and India. The talks with Foreign Minister Beate Meinl-Reisinger and Finance Minister Markus Marterbauer focused on strengthening economic cooperation, particularly in the areas of digitalization, green technologies, and the exchange of skilled workers.
April 15, 2025
U.S. Tariffs Cause Tensions: Austria between Willingness to Negotiate and Strong Response
Transatlantic economic relations are once again being put to the test. Following the US decision to impose import tariffs on European products - particularly steel, aluminum, and a range of industrial goods - under former President Donald Trump, the EU has responded with a second package of sanctions. Stakeholders in Austria are also taking a clear stance - between calls for diplomacy and calls for consistency.
April 9, 2025
Shock for Austrian Foreign Trade: Weak Demand from Abroad Depresses Exports
The Austrian economy is facing a new challenge: exports slumped more sharply in November 2024 than they have for years. In particular, weak demand from Germany and the EU is causing concern - experts are warning of long-term consequences for industry and the labor market.
February 7, 2025
Austria's External Trade Deficit 2023 has Fallen Sharply
Austria recorded a remarkable reduction in its foreign trade deficit in 2023. As the latest figures from Statistics Austria show, the deficit fell by around 90 percent from 20.59 billion euros in 2022 to just 2.02 billion euros. This decrease is mainly due to cheaper energy imports, especially gas.
June 25, 2024
Austrian Economic Chamber: Opportunities and Challenges for Austria in Global Trade Dynamics
Against the backdrop of an increasingly interconnected global economy and the challenges posed by geopolitical tensions, Mariana Kühnel, Deputy Secretary General of the Austrian Federal Economic Chamber (WKÖ), emphasized the critical role of international trade for the Austrian economy. On the occasion of the Market Access Day in Vienna, she spoke about the need to secure access to global markets and open the doors to international sales markets, especially for small and medium-sized enterprises (SMEs).
March 21, 2024
Austrian Foreign Minister Schallenberg's Pioneering Visits to Senegal and South Africa
In an unprecedented diplomatic mission, Foreign Minister Alexander Schallenberg was the first Austrian official to visit Senegal and South Africa, setting new impulses in Austrian-African relations and opening the 31st Austrian Cultural Forum in Pretoria.
December 20, 2023
Austro-Arab Chamber of Commerce Hosts Libyan Delegations for Industry and Digital Transformation Talks
In a series of significant events, the Austro-Arab Chamber of Commerce (AACC) in Vienna, Austria, played host to high-level delegations from Libya, focusing on industrial development and digital transformation.
December 5, 2023
Austria-Arab Business Dialogue: Increased Cooperation and Innovation
The 13th edition of the Arab-Austrian Business Forum, which took place in Vienna, impressively demonstrated the growing importance of cooperation between Austria and the Arab countries. The forum, organized by the Austro-Arab Chamber of Commerce (AACC) and the Vienna Economic Chamber (WKW), brought together over 200 participants from various countries, including high-ranking ministers and business people.
December 4, 2023
Vienna Stock Exchange Strengthens International Presence with Barclays as New Trading Member
The Vienna Stock Exchange announced a significant step in its international expansion with the addition of Barclays Bank Ireland PLC as a new trading member. This marks an important milestone in the history of the exchange by adding one of the world's leading banks to its trading circle.
November 21, 2023
Salzburg Summit: International Conference Brings Together Top Politicians, Scientists and Business Leaders
July 26, 2023, marks the start of the 4th Salzburg Summit, a high-profile international business and future conference that will take place on the fringes of the renowned Salzburg Festival. The event will be formally opened by EU Budget Commissioner Johannes Hahn and the President of the Federation of Austrian Industries (IV), Georg Knill. In light of recent global challenges, including a war on European soil and the global COVID-19 pandemic, the summit is dedicated to the goal of a sustainable future for Europe amid uncertainty.
July 23, 2023
30 Years of EU Single Market: Austria’s Advantages are Apparent
30 Years of the EU Single Market have had a positive influence on Austria’s economy. This is shown by the reports of the Ministry of Labor and Economy and the Austrian Economic Chamber (WKO).
February 18, 2023
Austria's Agriculture Minister Totschnig against Mercosur Agreement
Austria's Agriculture Minister Norbert Totschnig is against ratification of the Mercosur trade agreement. In his opinion, the agreement with South America would put domestic farm families and supplies under pressure.
February 6, 2023
Austrian Federal Chamber of Commerce and EU-Mercosur Agreement
The Association Agreement between the European Union and MERCOSUR countries, such as Argentina, Brazil, Paraguay and Uruguay, includes provisions on political dialogue, cooperation and trade. For the Austrian Federal Chamber of Commerce, the agreement is a fair trade deal that increases exports and jobs, and high social and environmental standards remain untouched. The EU would be the first region to conclude an agreement with Mercosur.
November 4, 2022
Trade Between Tiger States and Austria at a High Level
The great potential for Austrian companies that emanates from the so-called tiger states in Asia was the main point of the Asia conference recently held by the WKO. Singapore, Hong Kong, Malaysia and South Korea are considered global hotspots for innovation and new technologies.
October 20, 2022
Trade Relations With the USA: Exports and Investments of Austrian Companies on a Strong Upswing
Austrian companies are increasingly exporting to the USA. It is already their largest overseas market and mutual bilateral investments are steadily increasing. Read on to find out what influences the positive growth dynamics and why Austrian products are in such demand in the US.
August 16, 2022
The Importance of Migrant Businesses for Vienna's Economy
It is common to see migrants run and maintain many businesses in Vienna. They offer a variety of different products and services, but they all share one thing: they make a significant contribution to the Viennese economy. In a new study, migrant businesses were examined and their impact on Austria's capital was clearly demonstrated.
August 8, 2022
How the USA Assesses the Austrian Economy
Every year, the United States government publishes a report that informs US companies and investors about the business climate in more than 160 countries and economies, including Austria. In this US State Department report, business officials at embassies and missions around the world prepare and analyse a variety of economies that are or could be markets for US companies of all sizes. Read on if you want to know how the US views the Austrian economy!
August 4, 2022
International Organisations in Vienna: What is the United Nations Commission on International Trade Law?
The United Nations Commission on International Trade Law (UNCITRAL) is based in Vienna and aims to unify and actively promote international trade law. Learn more about this international organisation in Vienna!
August 3, 2022
Viktor Orbán Meets Austrian Chancellor for Controversial Talks in Vienna
Viktor Orban, the polarising Prime Minister of Hungary, met with Austrian Chancellor Karl Nehammer last week in Vienna. The two statesmen expressed friendship, but also disagreed on some issues.
August 1, 2022
Visit of the Slovak Prime Minister to Vienna: Disagreement on Nuclear Technology Issues
Eduard Heger, the Prime Minister of the Slovak Republic, visited Vienna earlier this week. In his conversations with Austria's Chancellor Karl Nehammer, he emphasized the importance of Ukraine's victory over the Russian invader and discussed nuclear power differences between the two countries.
July 18, 2022
Austria's Foreign Trade Achieves Strong Growth
In the previous year, there were strong increases in foreign trade compared to the first CoV year 2020. It is pleasing that almost all federal states were able to record a positive foreign trade balance.
July 15, 2022
Austria's and Hungary's Foreign Ministers in Talks: "Western Balkan Enlargement is the Best Geopolitical Tool We Have"
During a recent visit to Vienna, the Hungarian Foreign Minister Péter Szijjártó met with the Austrian Foreign Minister Alexander Schallenberg. Apart from bilateral issues, the meeting focused on the Russian aggression in Ukraine and its effects on Central European neighbors and Western Balkans. The two foreign ministers also discussed European energy security.
July 15, 2022
EXPO 2025 in Osaka: Austria Wants to Strengthen Diplomatic Relations
Austria wants to further expand its diplomatic relations at the World Expo 2025 in Osaka. To this end, Ursula Plassnik, former Foreign Minister and experienced diplomat, has now been appointed an official representative for EXPO 2025.
June 22, 2022
How the War in Ukraine Affects German-Austrian Trade Relations
After a Corona-induced decline in trade between Germany and Austria, the situation seemed to settle down again in 2021. However, high expectations for growth have recently been depressed by the Russian invasion of Ukraine. A brief analysis.
May 2, 2022
EU Subcommittee of the Austrian Parliament Discussed on Future EU Economic Policies
The EU Subcommittee of the Austrian Parliament discussed future EU economic policy. The topics of artificial intelligence, digitalization, EU trade policy, the update of the EU industrial strategy of 2020 and the modernization of competition law.
April 20, 2022
U.S. Ambassador Vicki Kennedy Received at AmCham Austria Welcome Gala Dinner
New U.S. Ambassador Victoria R. Kennedy recently attended an event organized by the American Chamber of Commerce in Austria (AmCham Austria), where she spoke about transatlantic trade relations and the Ukraine conflict. Read on to learn more about the event and its participants.
March 24, 2022
Canada and Austria: Current State of Political and Trade Relations
Relations between Canada and Austria continue to develop. A brief analysis of economic, academic and political relations.
March 23, 2022
Austria Enhances Bilateral Economic Relations with Conflicting Neighbors India and Pakistan
The initiative ReFocus Austria, accompanied by Austria's Foreign Minister Alexander Schallenberg, visited the emerging republics of Pakistan and India in recent days. The aim of the trip was to establish economic relations and promote mutual investments. Read on if you want to know which sectors are in particular demand.
March 23, 2022
Russo-Ukrainian War: First Effects of Western Sanctions on Russian Economy
The Russian economy is already beginning to feel the effects of the Western sanctions for its invasion of Ukraine. Read what effects the sanctions are having on the economy.
February 28, 2022
Continued Strong Interdependence of Business between Russian, Ukrainian and Austrian Companies
Austrian businesses have established significant ties with those in Ukraine and Russia over the years. Read about the amount of business Austria does with each country and how the recent escalation of tensions could affect this.
February 23, 2022
Schallenberg Met Baerbock - Shared Responsibility Against the Aggression of the Kremlin
German Foreign Minister Annalena Baerbock met with Foreign Minister Schallenberg in Berlin to discuss the tensions between Russia and Ukraine, as well as climate action and the Western Balkans. Read what the two foreign ministers said about these issues.
February 21, 2022
EU - African Union Summit as Driver for Strengthened Economic Partnership between African Countries and Austria
Austria plans to use the upcoming European Union - African Union Summit as a means to strengthen the economic partnership between African countries and Austria. Read more about Austria's plans for strengthening cooperation with Africa.
February 15, 2022
Ukraine Crisis: Potential Impact of Russian Invasion on Ukrainian, Russian and EU Economies
The solution of the Russian aggression and violation of rights towards Ukraine, is of central importance for the world we want to live in. The Vienna Institute for International Economic Studies (WIIW) conducted a study on the potential economic impacts of a Russian invasion of Ukraine. Read their prediction for how an invasion would affect the economies of the EU, Russia, and Ukraine.
February 8, 2022 · Updated: February 11, 2022; 08:35
Armenia and Austria Strengthen Bilateral Ties
Foreign Minister Schallenberg is visiting Armenia in an attempt to strengthen bilateral ties. Read about Austrian-Armenian relations and Schallenberg's trip, which includes meetings with Armenian Prime Minister Nikol Pashinyan and Foreign Minister Ararat Mirzoyan.
February 2, 2022
Meet Andrei Plotnikov, Head of the Trade Representation of Russia in Austria
Dr. Andrei Plotnikov, who was born in 1959 in Donetsk in the former Ukrainian Soviet Socialist Republic, currently the embattled eastern part of Ukraine, has been the Head of the Trade Representation of Russia in the Republic of Austria since 2021.
January 18, 2022
Australia and Austria for Strong Multilateralism and Foreign Trade
Foreign Minister Alexander Schallenberg reaffirmed the good relations with Australia in a personal meeting with Australia's Foreign Minister Marise Payne. Mrs. Payne also paid a visit to Chancellor Nehammer.
December 13, 2021
After Pandemic Shock, Strong Upturn in Foreign Trade: China +26.4 %, USA +18 %
New data for January to September 2021 shows that Austria's foreign trade is returning to pre-pandemic levels. Read about Austria's improving trade figures.
December 10, 2021
Russian Trade Representation in Austria Celebrated 100th Anniversary
The Russian Trade Mission in Austria celebrated its 100th anniversary on December 7, 2021. On this day, exactly 100 years ago, the agreement between Russia and Austria was signed, after which the Trade Representation of Soviet Russia in Austria was established.
December 8, 2021 · Updated: December 8, 2021; 18:20
President of the German Chamber of Commerce in Austria Urges People to Vaccinate
Hans Dieter Pötsch, President of the German Chamber of Commerce in Austria (DHK), recently urged everyone to get vaccinated during the 66th General Assembly of the DHK. Read about Mr. Pötsch's urgent appeal and his outlook on economic relations between Germany and Austria.
November 30, 2021
Austrian Foreign Trade Picks Up Again
Austria's foreign trade in 2021 has improved significantly compared to 2020, and in some months, it is even approaching the pre-pandemic levels of 2019. Read the detailed numbers showing that Austrian trade is picking up again.
November 11, 2021
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
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
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
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
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
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
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
Fast News Search
