Chancellor-led Austrian delegation seeks to boost exports to China

Austria's Chancellor Christian Stocker is the first EU leader to visit China since October's trade agreement between Beijing and Brussels. 

With a delegation of 50 Austrian companies, Stocker's visit comes as the two countries mark 60 years of economic ties. China has since become Austria's third largest trading partner, behind Germany and Italy.

With eyes upon expanding its export opportunities to the world's second largest economy, the Austrian delegation also stopped at the China International Import Expo (CIIE). 

The CIIE is "absolutely important," Markus Tomaschitz tells CGTN. The Chief Human Resource Officer at Austria's automotive supplier AVL hopes the event will help his company connect with potential partners. "The opportunity in a very short time to meet a lot of people, to be really focused on what is going on in the Chinese market."

As part of the Austrian delegation, AVL is looking to secure new business in China, as orders from German carmakers continue to decline. The delegation, however, represents a broad range of industries, from cable car manufacturer Doppelmayr to steel producers Voestalpine and many others.

For years, trade between Europe and China has been dominated by Chinese exports. Now, Austria wants to open up more business opportunities in the Chinese market. The Alpine republic is looking to secure new contracts and unlock an estimated $6 billion in untapped export potential.

As tariffs and trade restrictions mount worldwide, AVL hopes that both sides can work together and keep markets open to drive economic growth.

"Austrian companies have the possibility to go with their products on a huge Chinese market, and vice versa," Tomaschitz says. "China has the chance to see Austria as an entry gate for the European market, and in the end, I think both parties will win. 

"So I understand that there's some kind of protection going on at this very moment. But if you look into the past, I think we both benefited the most and we prosper the most if we can create open markets."