Q4: What's your take on cooperation opportunities between the two countries in trade and economic sectors?

A4: Despite COVID-related declines, China was by far Austria's most important trading partner in Asia in 2020, with a bilateral trade volume of around 14 billion euros, the second most important supplier of imports and the fifth most important trading partner worldwide – a positive trend which continued into 2021. On this basis there are many cooperation opportunities which we are ready to develop.

For example, new business opportunities arise from certain post-COVID trends. This includes digitalization, like smart manufacturing or e-health. Biotech, pharmaceuticals and medical technology will benefit from the expansion of healthcare systems. Increased health awareness will ensure more demand for leisure activities, especially sports and exercise. We reckon the hosting of the 2022 Winter Olympics in Beijing and Zhangjiakou will strengthen China's sports and leisure industry. Many Austrian providers have already successfully positioned themselves in this market.