Skip to main content

Record Delegation to China Has Austria Preparing New World Order

Record Delegation to China Has Austria Preparing New World Order


Matthias Wabl

April 5, 2018, 2:18 PM GMT+5:30

Austria sees economy and markets shifting toward China, Asia

China’s President Xi Jinping meets Austrian leader Sunday

Austria is sending its largest-ever trade delegation to China to strengthen the foundation of what the Alpine country sees as a new economic and political order tilting east toward Asia.

About 150 Austrian company representatives led by President Alexander Van der Bellen will fill a Boeing 777 on Friday headed for Beijing for a week of hobnobbing with China’s economic and political elite. China’s President Xi Jinping is scheduled to hold a working meeting with Van der Bellen on Sunday.

“We’ll discuss what the geopolitical shift from a transatlantic world order to a Pacific one means,” Austrian Foreign Minister Karin Kneissl told reporters at a press conference in Vienna. “Regarding the economy, 80 percent of our exports are focused on European markets, so there is room for improvement in Asia -- which is much more than China.”

Austria’s delegation, which also includes Chancellor Sebastian Kurz, underscores China’s growing role in trade and technology. Austrian executives expectChina’s so-called new silk road to spur demand of climate-friendly technologies like batteries and electric cars. The trade route known in Beijing as the Belt and Road Initiative has invested than $60 billion in countries participating in the transport network.

Read How Trump May Drive EU and China Closer on Trade: QuickTake Q&A

Austrian companies will present their products for potential customers in the energy, infrastructure, aviation and security sectors. Christoph Leitl, the head of Austria’s chamber of commerce, is accompanied by senior executives from companies including Erste Group Bank AGAndritz AG and Red Bull GmbH.

Companies are planning to sign about 30 contracts worth 1.5 billion euros ($1.8 billion) during their visit, according to Economy Minister Margarete Schramboeck. Austria will increase the frequency of large economic missions to Asia and is planning to present a new export strategy by the end of the year, she said.

Chinese companies have also started to take stakes in Austrian companies to gain access to technology and markets. They include FACC AG, a maker of aircraft components; Wolford AG, a luxury knitwear company; and C-Quadrat Investment AG, a Vienna-based asset manager.


Popular posts from this blog

Balochistan to establish first medical university

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

5 Shia Hazara community members gunned down in Pakistan

Five members of the minority Shia Hazara community, including two women, were killed on Sunday in an attack by unidentified gunmen in Pakistan’s restive Balochistan province.This is not the first time that members of the Hazara community have been targeted in Quetta and other parts of Balochistan.(Reuters File Photo)Updated: Sep 11, 2017 00:20 ISTBy Press Trust of India, Press Trust of India, KarachiFive members of the minority Shia Hazara community, including two women, were killed on Sunday in an attack by unidentified gunmen in Pakistan’s restive Balochistan province.The gunmen targeted a car in Kuchluck area of Quetta while it was coming from the Chaman border crossing area, police said.The firing took place when the travellers had stopped at a filling station to refuel their vehicle. Five people of the Shia Hazara community, including two women, died in …

China’s 'Digital Silk Road': Pitfalls Among High Hopes

Will information and communication technologies help China realize its Digital Silk Road?By Wenyuan WuNovember 03, 2017In his speech at the opening ceremony of China’s 19th Party Congress, President Xi Jinping depicted China as a model of scientific and harmonious development for developing nations. Xi’s China wants to engage the world through commerce but also through environmental protection and technological advancement. This includes Beijing’s efforts to fight climate change with information and communication technologies (ICTs) that it plans to export along its “One Belt One Road” initiative (OBOR). Xi may have ambitious plans, but could China be throwing up obstacles in its own way?In his speech, the Chinese president emphasized the need to modernize the country’s environmental protections. The Chinese state is taking an “ecological civilization” approach to development and diplomacy, with a natio…