(Yicai Global) April 10 -- Chinese Commerce Minister Zhong Shan and Margarete Schramboeck, Austria’s digital and economics minister, jointly signed their Memorandum of Understanding on E-Commerce Cooperation in Beijing yesterday when Austria’s President Alexander Van der Bellen and prime minister Sebastian Kurz paid an official visit to China, the latter's ministry of commerce said on its official WeChat account.
China and Austria will join to create a sound environment in which to develop e-commerce by seeking government-level dialog on a regular basis, fostering local partnerships and public-private communications, and supporting companies in the two countries to team up for e-commerce projects, especially those designed to promote the import and export of high-quality goods and services. The two sides will encourage research institutes, industrial organizations and companies to work together on charting new paths and opening new fields for China-Austria economic and trade cooperation on the back of the favorable e-commerce wind in a bid to continually boost trade facilitation to a higher level and steady bilateral economic and trade ties, per the MOU.
As a country set in Central Europe, Austria enjoys unique geographical advantages. It has witnessed a robust growth in mutual economic and trade relationships with China over the years and an ever-stronger industrial integration, with USD8.4 billion in bilateral trade last year hitting a new high. The two countries are vital economic and trade partners that share broad prospects for cooperation in Central and Eastern Europe, not least in areas along the Belt and Road, an initiative proposed by China to promote trade and economy in Asia and beyond.
China has thus far set up bilateral e-commerce cooperative mechanisms with France, Chile, Vietnam, Brazil, Australia, New Zealand, Hungary, Estonia and Cambodia since the start of 2015 and is actively enhancing policy coordination, planning, negotiation, sharing experiences and establishing information interconnectivity with them.