Austria's export benefits from China's economic growth

09:04, December 17, 2010      

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Austrian Minister of Economy, Family and Youth Reinhold Mitterlehner Thursday said that Austria' s export has benefited significantly from China's economic growth.

At a press conference held in his ministry, Mitterlehner said Shanghai EXPO has promoted the world's attention to Austria," EXPO 2010 was a most successful activity that Austria demonstrates itself in overseas."

The event let the common people know that Austria was not only outstanding in music and culture but also energy technology, environmental protection technology and other areas, he added.

Figures released from the Austrian side showed that in the first three quarters of this year Austria's export to China increased to 2.1 billion euros (about 2.78 billion U.S. dollars) by 47.6 percent.

The minister believed that as economic ties between China and Austria developed well, in 2014, Austria's export to China was expected to grow significantly, accounting for 4 percent of its total export volumes from the present 2 percent.

Particularly, Austria's technologies of water treatment, cyclic utilization and energy efficient improvement and renewable energy resources will receive great attention from the Far East Area including China, he believed.

Mitterlehner also said that Austria should change the situation of export overly depending upon Europe. Currently, Austria's export to non-European countries accounts for only 18 percent of its total export volume.

"Austria has the overall goal of expanding the proportion of 18 percent greatly, in order to disengage from dependence and improve its ability of anti-crisis,"he said.

At the press conference, Christoph Leitl, President of the Austrian Chamber of Commerce, also pointed out that bilateral trade scale between Austria and China was expanding rapidly," among non-European trade partners, China's position has already surpassed the United States."

China has become the most important trade partner of Austria outside Europe, which simultaneously was also an important production base of Austria's enterprises, he added.

Leitl also noted that two thirds of the world trade occurred outside Europe. To this end, in the next two or three years, Austria will further strengthen its economic internationalization. He also believed "in the near future, our export to China will be doubled." (1 U.S. dollar = 0.756242 euros)

Source: Xinhua
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