ČR, Austria want to raise volume of mutual trade

Prague, Sept 10 (CTK) - Economic cooperation between Austria and the Czech Republic should be raised in the years to come but for this, transport infrastructure has to be improved in a fundamental way, Sonja Zwazl, president of the Lower Austria Economic Chamber, said at a press conference Monday.

For example, the important motorway connecting Brno and Vienna needs to be built, Zwazl said at the International Engineering Fair (MSV) in Brno.

The Czech Republic is Austria's most important trading partner in the region of Central and Eastern Europe and Central Asia.

The value of Austrian trade with the Czech Republic reached EUR5bn (Kc123bn) last year, with imports and exports being almost the same.

In the first half of this year, the Czech Republic was Austria's sixth most important trading partner. In the previous years, it placed fourth to fifth. Roughly 4,000 Austrian companies are represented in the Czech Republic, Austrian trade commissioner in Prague Nikolaus Seiwald informed.

Austrian investments in the Czech Republic were reaching EUR1bn in the last few years and last year fell to EUR760m.

It would be good if Czech companies invested in Austria as well, in particular in Lower Austria, Seiwald said.

At the MSV fair, 35 Austrian companies and 25 companies under Czech brands are exhibiting their products. Some 150 Upper Austrian companies are present in the Czech Republic.

A study has shown that the potential for a wider cooperation between southern Moravia and Upper Austria is high but the necessary infrastructure, in particular in transport, has to be built, Zwazl said, adding that the Vienna/Brno motorway was of key importance.