Interview: Many opportunities to increase economic cooperation between Austria, China: expert

The bilateral trade between China and Austria is, with an annual volume of about 10 billion euros (11.39 billion U.S. dollars), still rather limited in comparison to other European countries.

Georg Zanger, president of the Austrian Chinese Business Association (ACBA), sees many untapped opportunities and advocates for a more liberal legislation in Austria to make it easier for Chinese people to invest.

The opportunities for a closer cooperation between China and Austria are diverse, Zanger said in a recent interview with Xinhua.

"Austria has many assets that are interesting for China: the fresh air, the scenery, the excellent food," he said. It would be a chance to bring the overproduction in the Austrian food industry to the Chinese market, Zanger said. There is also potential for the collaboration in tourism, green technology and generics.

Zanger sees the Beijing Winter Olympics in 2022 as a great chance. "This is an attractive place for Austrian companies to invest," Zanger said. Austrian services in the winter sports industry are very popular.

A possibility to increase the exchange of goods between Austria and China could be the Belt and Road Initiative, said Zanger.

"China draws on a tradition that was arranged for a peaceful exchange of goods," he said. "The idea to connect China with Europe and the world via the rail, the street and in the maritime sector is just awesome," he added.

"This is a big chance for Austria and we should do everything possible to participate in it, " Zanger said, "However, we are still far behind."

Zanger also called for smoother business administration and legislation in Austria.

In addition, the ACBA supports student exchange programs so "our people get to know the culture of the country and vice versa, then it will be easier to work together. The important thing is to break down prejudices. Then everything will be better," he said. Endit