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Austria

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Austria profile

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(Last updated: 1 Apr 2009)


Current business situation

The Department of Foreign Affairs and Trade (DFAT) provides advice for business travellers and tourists going to Austria. This is regularly updated, and should be checked before planning travel.

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Country facts

Capital city: Vienna
Surface area: 84,000 sq km
Population: 8.3 million
Official language(s): German
Head of State: H.E. Federal President Dr Heinz Fischer
Head of Government: Federal Chancellor HE Werner Faymann
Australian exports to Austria: A$91 million
Australian imports from Austria: A$1,159 million
Austria's principal export destinations: Germany, Italy, USA
Austria's principal import sources: Germany, Italy, Switzerland
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)

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Economic climate

Austria joined the European Union (EU) in 1995. A top priority of the current coalition government is the implementation of a package of measures designed to boost the competitiveness of Austria as a European business location.


For the latest key economic indicators and statistics please see the Department of Foreign Affairs and Trade country economic fact sheet.

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Political climate

Austria is a federal republic. It is divided into nine provinces and each has its own provincial assembly and government. The Federal Assembly, which has a similar structure to the Australian Federal Parliament, comprises the Lower House (the ‘Nationalrat’) with members elected for four years, and the Upper House (the ‘Bundesrat’) with members elected by the provincial assemblies.


The Federal President, elected by popular vote for six years, is the Head of State. The President, Dr Heinz Fischer, carries out representative functions and generally acts on the advice of the Council of Ministers, led by the Federal Chancellor.

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Trade relations and statistics

Austria has strong ties with its EU partners. It also has good trading ties with Central Europe, Switzerland, USA, and Japan. As an EU member, Austria participates in the European Economic Area. It is also a member of the World Trade Organisation.


Please see the Department of Foreign Affairs and Trade country economic fact sheet for key trade statistics.

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OECD Guidelines for Multinational Enterprises

Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the ANCP website.

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Disclaimer

Austrade makes no warranty, express or implied as to the fitness for a particular purpose, or assumes any legal liability for the accuracy or usefulness of any information contained in this document. Any consequential loss or damage suffered as a result of reliance on this information is the sole responsibility of the user.