Flags of Germany and Austria

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Economic Affairs Minister Peter Altmaier exchanged views with his Austrian counterpart, Federal Minister for Digital and Economic Affairs Dr Margarete Schramböck, on the impact of the COVID-19 pandemic on the economy, several industry-policy issues and the German EU Council Presidency in a phone call today.

Federal Minister Altmaier said: “Austria and Germany are working closely together in many fields as neighbours in the European Union, with close ties also beyond the border regions. We need to work with our European partners if we are to tackle the great challenges resulting from the COVID-19 pandemic. Coping with the economic consequences of the COVID-19 pandemic will therefore also play a central role during Germany’s EU Council Presidency. We are working to strengthen the EU internal market and the future viability of our industry. This includes in particular strengthening the competitiveness and innovative capacities of our enterprises. And we need open markets and more European digital and technological sovereignty.”

Germany and Austria enjoy close economic relations. In 2019, bilateral trade amounted to nearly €110.12 billion (exports totalled €66.07 billion and imports €44.05 billion). Austria ranks eighth among Germany’s most important trading partners. Germany is Austria’s number one trading partner in the world.