Austria and China sign online trade agreement

Austria and China have signed an agreement, which should give Austrian retailers easier access to the Chinese e-commerce market. Margarete Schramböck, Federal Minister for Digital and Economic Affairs, is currently on a state visit to Beijing, where she negotiated a deal with the Ministry of Commerce of the Government of China. Schramböck is in Beijing to pave the way for Austrian e-commerce companies to enter China, currently the biggest e-commerce industry in the world. The signed agreement should give online retailers from Austria better access to Chinese online marketplaces, such as Alibaba, Tmall and JD.com.

The goal of the agreement is to strengthen the cooperation and exchange of experience between the cross-border e-commerce platforms of both countries. Austrian companies, especially SMEs, can benefit from facilitating contacts with the major Chinese e-commerce platforms and thus be present faster on the Chinese market. According to the Austrian Ministry, there should also be support provided for the import and export of quality products and services through e-commerce platforms. “China is by far Austria’s most important trade partner in Asia, and the second most important trading partner overseas, after the USA,” says Schramböck.